Proximity Marketing: The 5th P of the Marketing Mix

//Proximity Marketing: The 5th P of the Marketing Mix

Proximity Marketing: The 5th P of the Marketing Mix

With retail budgets being squeezed ever tighter, brands are having to look to different marketing strategies to ensure that they get the best returns possible.

This is where proximity marketing can play an important role.
The 4 P’s of the marketing mix: product, place, price and promotion have long been used to determine strategy. If we look at them in terms of proximity marketing, it shows how effective digital marketing can be.

Product: Unlike traditional marketing methods, which take months of work and may not be relevant at the moment of delivery, proximity marketing targets the consumer at the exact time that they need the product.
Place: Proximity marketing targets the consumer when they are physically near the premises, and so ensures that the possibility of conversion is at its highest.
Promotion: Digital marketing is so effective as it allows promotions to be customised. This targeting increases conversion rates.
Price: With marketing budgets under threat,strategies with high conversion rates and lower costs, like proximity marketing, are an attractive proposition.

By |2018-09-26T16:18:11+00:00September 26th, 2018|Latest News|Comments Off on Proximity Marketing: The 5th P of the Marketing Mix

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