The 7 P's of Marketing Mix
THE 7 P 'S OF MARKETING MIX
1.INTRODUCTION
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.
The marketing mix helps marketing companies to develop better strategies, so that the product or service they offer would target their target market accurately. When marketing a product the marketing company should have a unique selling proposition this attracts the audience’s attention.
In the marketing world, there is plenty of theory and "how to" books to follow. However, the "seven P 's of marketing" are the key principles that guide our work. These seven aspects - product, price, place, promotion, people, processes, and physical evidence - make up the marketing mix. They are the things that marketers need to assess and tick off in order for any of our campaigns to be successful. These tips are practical, useful, and thanks to the alliteration, easy to remember.
2.WHAT ARE THE 7 P 'S?
2.1.PRODUCT
This is your core offering, the thing that your customer wants or needs. If there is something wrong with your product, your campaign has failed before it 's even started. Marketers aim to look at products from an outsider 's perspective. They ask questions such as, "is this product suitable in today 's market?" "How will it benefit customers?" "Do customers need or want this product?" They also compare the product with that of competitors, and determine its strengths, weaknesses, and whether it can be improved in some way.
Product 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.
2.2.PRICE
Naturally, price is a major factor when it comes to sales rates and customer satisfaction. Marketers frequently assess the price of products, and make a judgement about whether the price is right for the current market
1.INTRODUCTION
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.
The marketing mix helps marketing companies to develop better strategies, so that the product or service they offer would target their target market accurately. When marketing a product the marketing company should have a unique selling proposition this attracts the audience’s attention.
In the marketing world, there is plenty of theory and "how to" books to follow. However, the "seven P 's of marketing" are the key principles that guide our work. These seven aspects - product, price, place, promotion, people, processes, and physical evidence - make up the marketing mix. They are the things that marketers need to assess and tick off in order for any of our campaigns to be successful. These tips are practical, useful, and thanks to the alliteration, easy to remember.
2.WHAT ARE THE 7 P 'S?
2.1.PRODUCT
This is your core offering, the thing that your customer wants or needs. If there is something wrong with your product, your campaign has failed before it 's even started. Marketers aim to look at products from an outsider 's perspective. They ask questions such as, "is this product suitable in today 's market?" "How will it benefit customers?" "Do customers need or want this product?" They also compare the product with that of competitors, and determine its strengths, weaknesses, and whether it can be improved in some way.
Product 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.
2.2.PRICE
Naturally, price is a major factor when it comes to sales rates and customer satisfaction. Marketers frequently assess the price of products, and make a judgement about whether the price is right for the current market