Uploaded on Dec 8, 2022
The 7Ps of Marketing Mix are a set of marketing tools that help companies develop effective strategies to increase sales and gain market share. They consist of Product, Price, Promotion, Place, People, Physical Evidence, and Process.
What Are The 7ps in Marketing Mix and Why it is Important?
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7Ps of Marketing Mix
PRODUC PRICE
T
PROMOTIO PHYSICAL
N EVIDENCE
What are the 7Ps of
Marketing Mix?
The 7Ps of Marketing Mix are a set of marketing tools that help companies
develop effective strategies to increase sales and gain market share. They
consist of
People
Product Place
Process MARKE Physical
evidence
T
MIX
Price Promotion
PRICE
This refers to the amount of money
customers need to pay for your
product or service. It should be
determined based on the cost of:
MARKET • Production,
MIX
• Customer demand, and
• Market competition.
The best prices should balance
between maximizing profit and
customer satisfaction.
PROCESS
This refers to the steps you take to market
and sell your product or service. It includes
activities such as:
• Lead generation,
MARKET • Customer acquisition,
MIX • Onboarding, and
• Order fulfilment.
It is important to have smooth process
systems in place such as automated emails
and efficient tracking processes. You also
need to take into account how to take orders,
manage payments, handle returns, etc.
PRODUCT
This refers to the goods or services
provided by your business. It includes
aspects such as:
• Packaging
MARKET • Branding
MIX • Product features and
• Quality.
Some businesses may also offer services
such as:
• Warranties and
• After-sales support.
PEOPLE
This refers to those involved in
marketing your product or service.
They include staff members such as:
• Customer service representatives,
MARKET • Salespeople, and
MIX • Marketers.
To hire and train the best people, you
must have the right organizational
structure and staff policies in place.
PLACE
This refers to the distribution channels used
by your business. It includes:
• Physical stores,
• Website sales,
•
MARKET Wholesalers, and
MIX • Third-party retailers.
While determining the channels, consider
the cost of delivery and customer
convenience. Choose the most appropriate
way to reach your target market, such as
local stores, online platforms or global
markets.
PHYSICAL EVIDENCE
This refers to tangible aspects of your
product or service that customers can use
to evaluate its quality and value. It
includes things like:
MARKET • Design,
MIX • Packaging,
• Branding materials,
• Store displays, and
• Customer reviews.
In some cases, customers may even want
to inspect the products before making a
purchase decision.
PROMOTION
This is how you will advertise your
product or service to potential
customers. It includes techniques such
as:
• Print ads,
MARKET
MIX • Television commercials,
• Online marketing, and
• Personal selling.
The promotion strategy should be
tailored to the target market. It must be
appealing and effective in order to get
the desired results.
Why Marketing Mix is Important
for Market Research?
Overall, the 7Ps of Marketing Mix
are an important tool that can be
used to develop effective
marketing campaigns and gain
insights into customer behaviour.
They help businesses create
strategies that will increase sales,
build brand loyalty and ensure
customer satisfaction.
Why Indicators Consulting?
Indicators Consulting helps you
use the Marketing Mix to gain an
MARKET edge over your competitors. We
MIX provide comprehensive
market research and strategic
marketing consulting services that
will help your business succeed.
Contact Us
Office 5, The Binary by Omniyat, +971 4 5700 495
Business Bay, Dubai, UAE
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