7P's Marketing management.pptx

7p's of marketing

1. 7 p s o f m arketing m i x S o w miya . S B B A D o n B o s c o C o l l ege ( c o - e d ) Y e l a g i r i H i l l s

2. I n t r oduction t o t h e 7 p s o f m a rketing m i x * t h e s e s e v e n a r e : product, price, promotion, place, packaging positioning and people. As products, markets, customers and needs change rapidly, you must continually revisit these seven Ps to make sure you're on track and achieving the maximum results possible for you in today's marketplace.

3. 4 P s o f m a r keting • p r o duct • p r i c e • p r o m o tion • p l a c e

4. 3 p s o f m a r keting • p r o c ess • p h y s i cal e v i dence • p e o ple

5. T a r g e t m a r k e t

6. P r o duct * A product is the item offered for sale. A product can be a service or an ite m . * P roduct is any item or service you sell to serve a customer's need or want. They can be physical or virtua l.

7. P l a c e • This refers to your pricing strategy for your products and services and how it will affect your customers. You should identify how much your customers are prepared to pay, how much mark-up you need to cater for overheads, your profit margins and payment methods, and other costs.

8. P r o m o tion * We have different tools for communication with v a r y i n g b e n e f i t s. • Advertising is good for raising awareness and reaching new audiences, whereas personal selling using a sales team is great for building relationships with customers and closing a sale.

9. P r i c e * This is the only revenue-generating element of the mix – all other marketing activities represent a cost. * As price is also a strong indication of the positioning in the market against competitors (low prices=value brand), prices need to be set with competitors in mind too.

10. P r o c e s s * Understanding the steps of the customer journey – from making an enquiry online to requesting information and making a purchase – helps us to consider what processes need to be in place to ensure the customer has a positive experience.

11. P h y s i c a l E v i d e n c e • Physical evidence provides tangible cues of the quality of experience that a company is offering. For an agency, the website itself holds valuable physical evidence – from testimonials to case studies, as well as the contracts that companies are given to represent the services they can expect to be delivered.

12. P e o p l e People, in the marketing mix, refers to anyone directly or indirectly involved in the business side of the enterprise. That means anyone involved in selling a product or service, designing it, marketing, managing teams, representing customers, recruiting and training.

13. C o n c l u s ion