7 p’s of marketing mix

INTRODUCTION
The marketing mix is one of the most famous marketing
terms. The marketing mix is the tactical or
operational part of a marketing plan. The marketing
mix is also called the 4Ps and the 7Ps. The 4Ps are
price, place, product and promotion. The services
marketing mix is also called the 7Ps and includes the
addition of process, people and physical evidence.

Describe by the diagram
“The marketing
mix is . . . The set
of controllable
tactical marketing
tools – product,
price, place, and
promotion – that
the firm blends to
produce the
response it wants
in the target
market”.

ELEMENTS OF THE MARKET FIX :-
explain by the points

PRODUCT There is no point in developing
a product or service that no one wants
to buy, yet many businesses decide
what to offer first, and then hope to
find a market for it afterwards. In
contrast, the successful company will
find out what customers need or want
and then develop the right product —
with the right level of quality to meet
those needs now and in the future.
Product means
the goods-and-
services
combination the
company offers
to the target
market.

PRICE
A product is only worth what
customers are prepared to pay for it.
The price also needs to be
competitive, but this does not
necessarily mean the cheapest; the
small business may be able to
compete with larger rivals by adding
extra services or details that will offer
customers better value for money.
Your
pricing must also provide a profit. It is
the only element of the marketing
mix
that generates revenue — everything
else represents a cost.
Price is the
amount the
consumer
must
exchange to
receive the
offering .

PLACEMENT The place where customers buy
a product, and the means of
distributing
your product to that place, must be
appropriate and convenient for the
customer. The product must be
available in the right place, at the
right
time and in the right quantity,
while
keeping storage, inventory and
distribution costs to an acceptable
level.
Place includes
company
activities that
make the
product
available to
target
consumers.

PROMOTION Promotion is the way a
company communicates what it
does
and what it can offer customers. It
includes activities such as branding,
advertising, PR, corporate identity,
sales management, special offers
and
exhibitions. Promotion must gain
attention, be appealing, tell a
consistent message and above all
else give the customer a reason to
choose your product rather than
someone else’s.
Promotion
includes all of the
activities
marketers
undertake to
inform consumers
about their
products and to
encourage
potential
customers to buy
these products.

PEOPLE Anyone who comes into
contact with your customers will make
an impression, and that can have a
profound effect — positive or negative
— on customer satisfaction. The
reputation of your brand rests in your
people’s hands. They must, therefore,
be appropriately trained, well motivated
and have the right attitude.
• It is essential to ensure that all
employees who have contact with
customers are not only properly
trained, but also the right kind of
people for the job
• Many customers cannot separate
the product or service from the
All human actors
who play a part in
service delivery
and thus influence
the buyers’
perceptions;
namely, the firm’s
personnel, the
customer, and
other customers in
the service
environment.

PROCESS • Customers are not interested in the
detail of how your business runs.
What matters to them is that the
system works
• Do customers have to wait? Are
they kept informed? Are your
Process is one of the 'P's that is
frequently overlooked. A customer
trying to reach your company by phone
is a vital source of income and
returning value; but so often customers
have to stay on hold for several
minutes listening to a recorded
message before they are able to get
through. Many of these customers will
give up, go elsewhere and tell their
friends not to use your company - just
because of the poor process that is in
place. Even if they do get through, they
will go away with a negative impression
of the company.
The process of giving a
service,
and the behavior of those
who deliver
are crucial to customer
satisfaction.
Issues such as waiting
times, the
information given to
customers and the
helpfulness of staff are all
vital to keep
customers happy.

PHYSICAL EVIDENCE
A service can’t be experienced
before it is delivered. This means that
choosing to use a service can be
perceived as a risky business because
you are buying something intangible.
This uncertainty can be reduced by
helping potential customers to ‘see’
what they are buying. Case studies
and testimonials can provide evidence
that an organization keeps its
promises. Facilities such as a clean,
tidy and well-decorated reception area
can also help to reassure. If your
premises aren’t up to scratch, why
would the customer think your
service is?
(Physical evidence is) .
. . The environment in
which the service is
delivered, and where
the firm and customer
interact, and any
tangible components
that facilitate
performance or
communication of the
service.

Is there an 8th P?
In some spheres of
thinking, there are 8 P’s
in the Marketing Mix.
The final P is Productivity
and Quality. This came
from the old Services
Marketing Mix and is
folded in to the Extended
Marketing Mix by some
marketers so what does
it mean?

The 8th P of the Marketing Mix:
Productivity & Quality –
This P asks “is what you’re offering
your customer a good deal?” This is
less about you as a business
improving your own productivity for
cost management, and more about
how your company passes this onto
its customers.

7 p’s of marketing mix

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