THE SEVEN PS OF THE MARKETING MIX
THE SEVEN PS OF THE MARKETING MIX
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The 7ps of the marketing MiG’s
Traditionally the marketing mix is set to consist of four levels of marketing control. These levels are product place promotion and price today.
We can include three more that address the shift in the modern business model. Those are people process and physical evidence or proof 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, successful companies determine what customers need or want and then develop the right product to meet those needs price.
The 7 Ps of the Marketing Mix
1.Product
2.Price
3.Place
4.Promotion
5.People
6.Process
7.Physical Evidence
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 their money your pricing must also provide a profit.
It is the only element of the marketing mix that generates revenue price positions you in the marketplace.
The more you charge, the more value or quality your customers will expect for their money existing.
Customers are generally less sensitive about price than new customers place the place where customers buy a product and the means of distributing your product to the 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.
Customer surveys have shown that delivery of performance is one of the most important criteria when choosing a supplier. The place also means
ways of displaying your product to cus our group’s.
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.
Your 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 somebody else’s promotion.
Should communicate the benefits that the customer obtains from a product and not just features of that product. Whether your promotional material is a single sheet or complex brochure folder, or catalogue, it must grab the attention of your customers. It should be easy to identify why they should buy your product.
Your promotional material should be customized by varying them to suit the target customers and changing them as required 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. Many customers cannot separate the product or service from the staff members who provide it with.
This show the importance of your people process the process of giving service, and the behaviour of those who deliver is crucial to customer satisfaction issues such as waiting times, the information is given to customers, and the helpfulness of staff are all vital to keeping customers
happy 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 or your staff helpful, or your services carried out efficiently? Do your people interact in a manner appropriate to your service process is often overlooked, for instance?
The customer tries to reach your customer-company by phone as a vital source of income and returning value but to soften, customers, sit on hold for several minutes listening to a recorded message many of them.
Give up to go elsewhere and tell friends about their harmful experience processes often fail the customer because they build for the company’s needs and not design for the customer in mind physical evidence or proof a service.
It can’t be experienced before it is delivered. This means that choosing to use the service can be perceived as a risky business because you were buying something intangible this uncertainty can be reduced by helping potential customers to see.
They are buying facilities such as a clean and tidy well the decorated reception area can also help to reassure if your premises aren’t up to scratch. Why would the customer think your services an organization also demonstrates physical evidence through testimonials.
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