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Where Social Media Fits in the Marketing Mix

Opinions expressed by Entrepreneur contributors are their own.

The marketing mix has traditionally been made up of the "four Ps": product, price, place and promotion. With social media, a fifth P -- participation -- has emerged. Adding participation to the traditional mix creates what Mikal Belicove calls a "viral loop" that shores up a greater amount of sales and leads.

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Sales Not Where You Want Them to Be? Consider Video Marketing.