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Whilst for some time there were considered to be 7Ps in the services marketing mix, which included the traditional 4Ps plus Process, People and Physical evidence (the last 3Ps represent the systemic vision from the Marketing point of view), Services Marketing Academics and Experts from the sector have recently added an 8th P (Lovelock and Wirtz, 2007, pp. 22-23). Thus, the 8Ps of services marketing are defined as follows:
Product elements - the core and periphery service elements at the centre of the company's marketing strategy;
Place and Time - delivering product elements to customers can be done physically and/or electronically, depending upon the service. Speed and convenience are essential to the customer and are important value-adds;
Price and Other User Outlays - pricing is only a part of what customers may part with when purchasing a service; one must also consider time and convenience;
Promotion and Education - speaks for itself, but the marketer must make sure communications not only provide information, but also persuade the customer of the service's relevance to the customer's particular 'problem';
Process - the means by which the firm delivers product elements;
Physical Environment - the appearance of the place where the services are delivered may have a significant impact upon whether the service was satisfactory;
People - front-line staff will have a direct impact on perceptions; and
Productivity and Quality - improving productivity is a requisite in cost management; but quality, as defined by the customer, is essential for a service to differentiate itself from other providers. (Lovelock and Wirtz, 2007, pp. 23)
References:
Lovelock, C. and Wirtz, J. 2007. Services Marketing: People, Technology, Strategy. 6th Edition. New Jersey, USA: Pearson International - Pearson/Prentice Hall.
What else can I help you with?
How do you think the elements marketing mix differ in terms of services?
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.
What are the 72p in marketing mix?
The marketing mix is traditionally defined by the 4 Ps: Product, Price, Place, and Promotion. However, the extended marketing mix for services includes three additional Ps: People, Process, and Physical evidence, totaling 7 Ps. In some frameworks, additional elements such as Packaging, Positioning, and Performance are included, leading to concepts like the 72 Ps, which encompass a broader range of marketing strategies and considerations. These elements collectively help businesses create, communicate, and deliver value to their customers.
What are the four PS of marketing?
Price is perhaps the most important of the four Ps (product, promotion, and place being the others) of marketing.
What is marketing mix And seven p's of marketing?
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.
Why marketing of services is difficult than marketing of goods?
why marketing of services is difficult than marketing of goods
How do you think the elements marketing mix differ in terms of services?
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.
4 PS of marketing?
The 4 PS of marketing are- P-product P-place P-price P-promotion
What are the four PS of marketing?
Price is perhaps the most important of the four Ps (product, promotion, and place being the others) of marketing.
What are the marketing strategies of siomai house?
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.
What's the difference between advertising and marketing?
In basic terms, marketing is the process of identifying customer needs and determining how best to meet those needs. In contrast, advertising is the exercise of promoting a company and its products or services through paid channels. In other words, advertising is a component of marketing.
What is marketing mix And seven p's of marketing?
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.
Why marketing of services is difficult than marketing of goods?
why marketing of services is difficult than marketing of goods
What are the 4ps in marketing?
The 4 PS or the 'marketing mix' are Product, Price, Place and Promotion.
ico marketing services In India?
ico marketing services In Lucknow
Define marketing distinguish product marketing and services markrting with suitable example?
Define Marketing. Distinguish product marketing and services marketing with suitable examples
What is the classic four PS classification of market mix variables?
The classic four Ps classification of marketing mix variables (product, price, promotion, and place) emerged as a marketing principle.
What are the barriers to international marketing of services?
describe in detail the barriers to international marketing of services
