The contemporary landscape of marketing is in a state of perpetual transformation, characterized by the incessant march of technological progress and the ubiquitous presence of the Internet. The marketing mix, a fundamental concept in the field of marketing, has been a guiding framework for businesses and marketers to address consumer needs and wants. Developed by Jerome McCarthy in 1964, the traditional marketing mix consists of four core elements: Product, Price, Place, and Promotion (McCarthy, 1964). However, the past two decades have witnessed an unparalleled revolution in the way businesses approach marketing. Advancements in technology and the proliferation of digital platforms have led to significant alterations in the marketing mix and have prompted scholars and practitioners to reevaluate and expand upon its foundational principles.
This paper embarks on a scholarly exploration of the evolving terrain of marketing, with a particular emphasis on the impact of the Internet and digital technologies on the marketing mix. The objective is to discern the underlying shifts and disruptions that have led to the reconfiguration of marketing strategies and the emergence of new dimensions in the marketing mix. Additionally, this research seeks to illuminate the pivotal role of a novel addition to the marketing mix, denoted as “P-PACE,” as it reflects the acceleration factor that reverberates through all other elements. This innovative framework reflects the dynamic and fast-paced nature of contemporary marketing, where speed is often the essence of competitiveness and customer satisfaction.
The marketing arena, like many other domains, has felt the transformative force of technology. The impact of digitalization, enabled by the Internet, has been pervasive, altering the way businesses interact with their customers, execute marketing campaigns, and conduct market research. In the era of information technology, customers have become more connected, empowered, and informed, challenging businesses to adapt to their evolving needs (Kalyanam & McIntyre, 2002).
The proliferation of digital media platforms has ushered in a new era of marketing. It has not only provided novel channels for communication and interaction with consumers but has also redefined how information is disseminated and products are marketed. In the pre-digital era, marketing was primarily one-directional, with companies pushing messages to passive audiences through traditional media. However, the advent of the Internet has transformed consumers into active participants who engage with brands, share their experiences, and influence the perceptions of others (Sharma & Sheth, 2004). This shift from a one-way communication model to a two-way, interactive dialogue has compelled marketers to rethink their strategies and embrace the digital revolution.
One of the key developments in this context is the rise of digital and social media marketing (DSMM). Social media platforms, such as Facebook, Twitter, and Instagram, have become central to the marketing strategies of many businesses. These platforms provide a space where consumers not only search for products, read reviews, and compare prices but also share their experiences and opinions, amplifying the reach and impact of marketing campaigns (Kalyanam & McIntyre, 2002).
Furthermore, the ubiquity of “smart” mobile devices and the seamless integration of technology into everyday life have redefined the consumer's path to purchase. Consumers can now seamlessly transition from researching a product on their smartphone to making a purchase on a tablet or laptop, or even in a physical store. This omni-channel experience has compelled businesses to adopt multi-platform marketing strategies to ensure a consistent and engaging customer experience (Lamberton, 2016).