The paper “ Sharp Corporation - an Expanded Marketing Mix for Online Marketing" is a perfect example of a case study on marketing. Successful online brick-and-mortar businesses consider the key to their thriving business process management is to develop a diverse marketing mix that can work in an effective manner. This implies that for a business to survive and flourish within a competitive world, it is required to create a whole spectrum of marketing strategies as well as operate simultaneously rather than relying on a single marketing approach. Spurred by high economic growth enhanced by internet and related technologies, most of the companies are engaging in e-commerce activities as well as internet marketing.
Online auctions are one major area of internet marketing dominated in both sales and customer interest involved in online marketing (Millman 1998). The research investigates an expanded marketing mix for the online marketing with a focus on Sharp Corporation as the case of study, how the marketing mix for the online marketing are varying with a consideration on how the internet is used to vary the marketing mix and concludes with an overall understanding of the current situation for an organization in relation to its internet strategies as well as the recommendations for company’ s future development. An expanded marketing mix for online marketingMarketing mix commonly referred to as the four (4) P’ s of marketing namely product, promotion, place, and price are perceived to be the basic principle of marketing.
However, the four P’ s may be an efficient approach for tangible products but with the intangible products, such elements may not operate sufficiently. Based on Sharp Corporation’ s Internet Business Model, studies indicate that the company has been utilizing the electronic media in an effective manner, and as a result, its sales have increased due to it.
In addition, the internet has transformed the 4 P’ s of marketing for a Sharp Corporation, and thus acquired a new form of 4 C’ s. The implication of this is that the use of the Internet in Sharp Corporation is concerned with Content, Customer Care, commerce as well as Converting to Leads (Smith & Chaffey 2001). According to Vantage (2004), such a transformation is fundamentally an extension of the 4 Ps to 4 C’ s that have defined the manner in which the consumer market operates.
For instance, the product has been broadened to contend the most appropriate place where the customer can be able to obtain the information concerning the various products. Vantage also examined that Place has been widened to include Commerce where individual customers shop whilst seeing the products, establishing both its feature and price changes on the internet. On the other hand, the price has been extended to include Customer care identified with the quick response from the customer so as to enable him or she obtain the product instantly.
Lastly, Promotion has been broadened to include Converting leads to encourage the customer to return as well as make a purchase of the same product increasing sales. Although the 4 P’ s have evolved basically in the application of marketing, its basis of customer satisfaction has been maintained in order for the customer to benefit from the organization. Therefore, Sharp’ s model aimed at developing the 4 P’ s to 4 C’ s as well as ensuring better service and customer satisfaction (Biff, 2002).