Is Big Data Changing the game of Traditional Marketing?

In traditional marketing, we always were told about four Ps: Product, Price, Promotion, and Place. But the world is changing so fast and we can see the way marketing has been changing rapidly as well. Like, we can see a lot of marketing has been moving online. Are the four Ps of marketing still working in the industry? How can we apply them in today digital marketing?

One of the biggest changes is the shifting customers online and they are able to interact with the companies. In the past, customers might just walk in the physical store, shop and leave. Now, company is able to track their online shopping behavior. The age of big data is providing the chance and leading the trend for business to transit the marketing. Big data enables "personalized marketing" to become the basic service.

 The traditional marketing, cannot do very detailed personal marketing and mostly focusing public marketing or group marketing. For example, traditional marketing based on consumer demand, and the market segmentation is for the different groups. For example, a sports shoes brand has seven market segments, and then with seven marketing activities, often have to spend a lot of manpower and resources. But with big data, the marketers can get every consumer's purchase time, purchase cycle, purchase characteristics to analyze their buying behavior and shopping experience. They can launch online marketing campaign which cost much less money and resources.

Everyone's buying behavior, consumption habits are not the same, but the traditional marketing because of the limitations of resources and manpower, therefore, often can only be with people to marketing, rather than marketing to meet people; when the business can only perform seven marketing activities. But when the marketing activities have the ability to become as many as 70,000, each consumer can be matched from 70,000 activities to the most suitable for these activities, and thus move the old marketing point of view, into a person to find activities, rather than activities find someone.

Marketing activities from groups to the individual, the market segment is getting smaller and smaller, or that each customer has become a focus on the market, marketing become personalized accompany by the age of big data.