Social Networking As a Marketing Model

[WHB - Tyler]

From the Web Hosting Buzz Blog:

There are said to be four P’s at the core of marketing: Product, Price, Promotion, and Place. Together, these elements can allow a business to be competitive in the global marketplace of today’s economy. Businesses stretch their marketing budget thin trying to achieve these objectives, but often times overlook a growing – and free – trend of marketing via social networking.

The four P’s are elements of an expanded definition of marketing: putting your product in front of a potential customer at a time when they are most likely to buy that product, in a place where they are willing to buy it, and at a price they are willing to pay for your product. By properly leveraging these elements, a business can capitalize on their potential market and compete on a global scale.

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