Abstract This chapter focuses on how the digital revolution has transformed marketing value creation. Changes in traditional marketing (the 4Ps) are examined alongside possible complementary e-marketing elements, and new marketing value elements (the 4Cs) are introduced. The chapter considers how each of these new marketing value-creation elements works in the digital world, and makes suggestions for management. It concludes with a new discussion on how to utilize today’s e-value drivers in the light of the transformation of our understanding of marketing in the digital age.
Keywords 4C elements • Connectivity • Content • Community • Commitment • Integrated e-marketing value
Marketing theory and understanding have undergone fundamental changes during the last decade. The Internet has given rise to more sophisticated consumers, more fragmented markets, and rising consumer empowerment. What we are seeing today is a major marketing thought transformation, with increasingly active market involvement by consumers
This chapter is based on my original article entitled “Towards integrated e-marketing value creation process”, published in Journal of Direct, Data and Digital Marketing Practice in 2011, Vol. 12, pages 345-363.
© The Author(s) 2017
S.U. Kucuk, Visualizing Marketing,
which is having a fundamental impact on many business and marketing operations. This consumer revolution, in which consumers are empowered and/or are acting as equal alternative agents and players in markets, has not been previously observed in traditional marketing.1
Clearly, traditional marketing-mix elements no longer build value on the Internet as they used to in physical markets. Without an understanding of today’s digital value elements and their interaction with traditional marketing-mix elements, all the money spent by businesses on the 4Ps will be wasted. In order to balance the changing power dynamics in online markets, a re-conceptualization of new e-marketing value drivers and market meanings in today’s visual spaces is inescapable. This chapter focuses on these transformative changes.
It has recently been proposed that consumer power can be balanced in the consumer decision process by four principal basic strategies: findability, credibility, convenience, and consulting.2 However, this conceptualization does not reflect all the major changes in both markets and theory. The present work attempts to fill this gap by providing (1) an investigation of the transformation in marketing-mix elements; (2) a re-conceptualization of the new e-marketing value drivers—the “4Cs” of connectivity, content, community, and commitment—in today’s digital world; and (3) an investigation of possible synergy effects in an integrated value-creation approach.