7ps of marketing management hehehee.pptx

For Business

1. P’s Of Marketing

2. INDEX  WHAT IS MARKETING ?  7 P’S OF MARKETING  MEANING AND IMPORTANCE OF 7 P’s OF MARKETING  CONCLUSION

3. WHAT IS MARKETING • Marketing is communicating the value of a product, service or brand to customers, for the purpose of promoting or selling that product, • Marketing techniques include choosing target markets through market analysis and market consumer behavior and advertising a product's value to the customer.

4. 7 P’ s OF MARKETING PRODUCT PRICE PLACE PROMOTION PEOPLE POSITIONING PACKAGING

5. Product: The product is the primary – though not the only – component of the 7 Ps of the marketing mix. Marketing consultants will consider carefully which features of the product are most likely to appeal to its target market, as well as taking into account factors such as the life span of the product, and its potential for diversification and development.

6. Price: The price that is set for a product not only determines the amount of profit the business will be able to make from it (and therefore how many units will need to be sold), but also affects the value of the product as perceived by the consumer. Many consumers will use the product’s price as a means of judging its quality, and most will compare the price with that of similar products before deciding which to purchase.

7. Place: Products are not only sold in shops – they may also be sold door-to-door, online, or in trade fairs or markets.

8. Promotion: This is an umbrella term, covering all the media by which a business informs customers about its product – including advertising, public relations and sales promotion.

9. People: Knowing the customer is the linchpin of a successful marketing strategy – without accurate customer profiling, none of the other 7 Ps of marketing mix can be correctly channeled, and the product may well fail to sell.

10. Positioning: One of the most important of the 7 Ps of marketing mix, positioning refers to a product’s status in relation to the wider market, particularly how it lines up against competitors.

11. Packaging : This refers not just to the way in which a product is wrapped, but also to its overall presentation, and the way in which its physical arrangement is designed to attract the customer.

12. CONCLUSION • Traditionally, the marketing mix was developed for the fast moving consumer goods sector, and there were 4 distribution). marketing, this marketing mix has been developed to also include: People, Process and Physical Evidence. 4 Ps will suffice, it can be useful to think how much of a service element there is to your business. Indeed, the products are purely goods and very few purely service.