Optimizing Marketing Mix Strategy in the Era of Digital Transformation

EasyChair Preprint 13734

Abstract

The digital transformation has radically altered the marketing landscape, presenting both challenges and opportunities for businesses. This paper explores how organizations can optimize their marketing mix strategy to thrive in this new era.

The rise of digital channels, social media, and data analytics has empowered consumers and disrupted traditional marketing approaches. Brands now must seamlessly integrate online and offline touchpoints to deliver a cohesive customer experience.

This paper examines key considerations for optimizing the marketing mix, including:

Rethinking the product strategy to leverage digital features, personalization, and new distribution channels

Pricing strategies that account for dynamic, data-driven models and customer willingness to pay

Optimizing promotion through targeted digital campaigns, influencer marketing, and real-time content

Evolving the place strategy to optimize the omnichannel customer journey

The paper also highlights the importance of using advanced analytics to continually test, measure, and refine the marketing mix. With the right data-driven approach, organizations can better allocate resources, improve marketing effectiveness, and drive sustainable growth.

By adopting a dynamic, digitally-enabled marketing mix strategy, businesses can enhance customer engagement, boost brand loyalty, and stay ahead of the competition in the era of digital transformation.

Keyphrases: Economics, Finance, Marketing

@booklet{EasyChair:13734,
  author    = {Favour Olaoye and Kaledio Potter and Lucas Doris},
  title     = {Optimizing Marketing Mix Strategy in the Era of Digital Transformation},
  howpublished = {EasyChair Preprint 13734},
  year      = {EasyChair, 2024}}