Marketing professionals and specialist use many tactics to attract and retain their customers. These activities comprise of different concepts, the most important one being the marketing mix. There are two concepts for marketing mix: 4P and 7P. It is essential to balance the 4Ps or the 7Ps of the marketing mix. The concept of 4Ps has been long used for the product industry while the latter has emerged as a successful proposition for the services industry.
The 7Ps of the marketing mix can be discussed as:
Product - It must provide value to a customer but does not have to be tangible at the same time. Basically, it involves introducing new products or improvising the existing products.
Price - Pricing must be competitive and must entail profit. The pricing strategy can comprise discounts, offers and the like.
Place - It refers to the place where the customers can buy the product and how the product reaches out to that place. This is done through different channels, like internet, wholesalers and retailers.
Promotion - It includes the various ways of communicating to the customers of what the company has to offer. It is about communicating about the benefits of using a particular product or service rather than just talking about its features.
People - People refer to the customers, employees, management and everybody else involved in it. It is essential for everyone to realize that the reputation of the brand that you are involved with is in the people's hands.
Process - It refers to the methods and process of providing a service and is hence essential to have a thorough knowledge on whether the services are helpful to the customers, if they are provided in time, if the customers are informed in hand about the services and many such things.
Physical (evidence) - It refers to the experience of using a product or service. When a service goes out to the customer, it is essential that you help him see what he is buying or not. For example- brochures, pamphlets etc serve this purpose.
what can you buy for 7p with a push a leaf of bread
The marketing mix has two variations, the 4ps, and more recently the 7 ps. Below are the Ps in order (1 to 4 the 4 ps, 5 to 7 the additional 3 that make the 7 ps):ProductPricePlacePromotionPeopleProcessPhysical EvidenceThe marketing mix was coined by Neil Borden in 1948 in an article entitle "the concept of the marketing mix" which referred to these 4 or 7 elements as ingredients in a recipe.
product price place promotion people packaging process
pimps, price,prostitues are the 3 ps. rest four ps goes to hr
The market mix is often referred to as the 4 Ps or the 7 Ps, which are in order:ProductPricePlacePromotionPeopleProcessPhysical EvidenceThe term marketing mix was coined by Neil Borden in 1948 in an article entitled "the concept of the marketing mix" which referred to the 4 or 7 Ps as ingredients within a marketing recipe, which can be use to follow existing recipes, or create new recipes.There is a good infographic called 'The Marketing Mix Made Easy' which explains the marketing mix in more detail, you can find this at http://www.zeno-marketing.co.uk/marketing-clinic/2012/7/5/marketing-mix-made-easy.html
The 7 Ps of marketing are product, prices, promotion, place, packaging, positioning, and people. They play important roles in developing one's marketing strategy.
The 4 PS of marketing are- P-product P-place P-price P-promotion
Price is perhaps the most important of the four Ps (product, promotion, and place being the others) of marketing.
The marketing strategies of Siomai House are founded on the 4 Ps of marketing. The 4 Ps stand for price, place, promotion and product and is commonly referred to as the marketing mix.
The 4 PS or the 'marketing mix' are Product, Price, Place and Promotion.
The Marketing mix of Parle-G is based on what is commonly known as 4 Ps. The 4 Ps stand for product, price promotion and place.
well in case of services there are three additional elements which are- process, physical environment and people. So there are 7 ps in case of marketing mix of services.
The classic four Ps classification of marketing mix variables (product, price, promotion, and place) emerged as a marketing principle.