marketing mix 7ps assignment

Marketing mix on 7ps

The marketing mix is probably the most famous phrase in marketing. The elements are the marketing ‘tactics’. The marketing mix principles are controllable variables which have to be carefully managed and must meet the needs of the defined target group. All elements of the mix are linked and must support each other.The 7’p’s are:

• Product •Price •Place •Promotion •People •Process • Physical evidence.

Marketing mix

Product –

A product is seen as an item that satisfies what a consumer needs or wants. It is a tangible good or an intangible service. Intangible products are service based like the tourism industry, the hotel industry and the financial industry. Tangible products are those that have an independent physical existence. Typical examples of mass-produced, tangible objects are the motor car and the disposable razor. A less obvious but ubiquitous mass produced service is a computer operating system.

Every product is subject to a life-cycle including a growth phase followed by a maturity phase and finally an eventual period of decline as sales falls. Marketers must do careful research on how long the life cycle of the product they are marketing is likely to be and focus their attention on different challenges that arise as the product moves through each stage.

The marketer must also consider the product mix. Marketers can expand the current product mix by increasing a certain product line’s depth or by increasing the number of product lines. Marketers should consider how to position the product, how to exploit the brand, how to exploit the company’s resources and how to configure the product mix so that each product complements the other. The marketer must also consider product development strategies

The price is the amount a customer pays for the product. The price is very important as it determines the company’s profit and hence, survival. Adjusting the price has a profound impact on the marketing strategy, and depending on the price elasticity of the product, often; it will affect the demand and sales as well. The marketer should set a price that complements the other elements of the marketing mix.

When setting a price, the marketer must be aware of the customer perceived value for the product. Three basic pricing strategies are: market skimming pricing, marketing penetration pricing and neutral pricing. The ‘reference value’ (where the consumer refers to the prices of competing products) and the ‘differential value’ (the consumer’s view of this product’s attributes versus the attributes of other products) must be taken into account.

Promotion –

Promotion represents all of the methods of communication that a marketer may use to provide information to different parties about the product. Promotion comprises elements such as: advertising, public relations, personal selling and sales promotion.

Advertising covers any communication that is paid for, from cinema commercials, radio and Internet advertisements through print media and billboards. Public relations is where the communication is not directly paid for and includes press releases, sponsorship deals, exhibitions, conferences, seminars or trade fairs and events. Word-of-mouth is any apparently informal communication about the product by ordinary individuals, satisfied customers or people specifically engaged to create word of mouth momentum. Sales staff often plays an important role in word of mouth and public relations (see ‘product’ above).

Place refers to providing the product at a place which is convenient for consumers to access. Place is synonymous with distribution. Various strategies such as intensive distribution, selective distribution, exclusive distribution and franchising can be used by the marketer to complement the other aspects of the marketing mix

An essential ingredient to any service provision is the use of appropriate staff and people. Recruiting the right staff and training them appropriately in the delivery of their service is essential if the organisation wants to obtain a form of competitive advantage. Consumers make judgments and deliver perceptions of the service based on the employees they interact with. Staff should have the appropriate interpersonal skills, aptititude, and service knowledge to provide the service that consumers are paying for. Many British organisations aim to apply for the Investors In People accreditation, which tells consumers that staff are taken care off by the company and they are trained to certain standards.

Refers to the systems used to assist the organization in delivering the service. Imagine you walk into Burger King and you order a Whopper Meal and you get it delivered within 2 minutes. What was the process that allowed you to obtain an efficient service delivery? Banks that send out Credit Cards automatically when their customers old one has expired again require an efficient process to identify expiry dates and renewal. An efficient service that replaces old credit cards will foster consumer loyalty and confidence in the company.

Physical Evidence

Where is the service being delivered? Physical Evidence is the element of the service mix which allows the consumer again to make judgments on the organization. If you walk into a restaurant your expectations are of a clean, friendly environment. On an aircraft if you travel first class you expect enough room to be able to lay down! Physical evidence is an essential ingredient of the service mix, consumers will make perceptions based on their sight of the service provision which will have an impact on the organizations perceptual plan of the service.

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7Ps of Marketing Mix: Explained well with examples

Learn everything about the 7Ps of Marketing mix, Understand why this concept is still relevant today and will be relevant for the foreseeable future. The 7Ps of Marketing is the Price, Place, Promotion, Product, People, Process and finally, Physical Evidence.

It originally started as 4 Ps, but as the world, and the complexities of marketing grew; 3 more were added to formulate an effective marketing strategy. The ‘P’s stand for each of the pillars of a marketing strategy, and together are a part of the concept called the ‘marketing mix’. The term ‘marketing mix’ sounds a little confusing, but in essence, it is a foundation model for businesses. More easily explained, it is the operational part of a marketing plan- the nuts and bolts of it.

Funfact, there are actually 9Ps of Marketing: The above 7+2 viz. Packaging and Payments. But the 7Ps are popular given their wide and timeless application in the World of Marketing. Anyway, let’s just straight in the post.

The 7Ps of Marketing: With Examples

We can understand this with the example of a rainbow. The 7 colours of a rainbow and the 7Ps in a marketing mix bear a resemblance. Just as not all rainbows have the same the composition of the VIBGYOR colours, the same way every marketing plan is unique and contains varying amounts of the 7Ps of the marketing mix. The components are explained in the following points

One very important aspect of any product/success being a success in the market is the price at which it is marketed. The first colour of the marketing mix rainbow is one of the determining factors of what the people will see. Marketers tread very carefully while setting a price that is a win-win situation for both the company as well as the consumers.

There are several pricing models. One of the most famous ones is Competitive Pricing Strategy as is used by Coca-Cola. Coca-Cola’s main aim is to penetrate the markets and achieve the highest market share without compromising on its customer base and product positioning. Thus, the company charges its consumers what its competitor Pepsi is charging. It’s a simple, yet highly competitive strategy as the name suggests.

It is the channel through which your company’s goods/services get moved from the manufacturer to the consumer. Your good/service will need to be brought into the market through a mechanism, and ‘place’ is exactly that- a way for your offering to be seen by the correct audience. An example of this element of the marketing mix can be the numerous branches of McDonald’s all over the world. Almost every country in the world either has a McDonald’s franchisee, or knows of it. And each country has its unique menu, with the standard guarantee of tasty food, served fast, at low prices.

The Product

This is the P that starts it all. The need for this P to be known, positioned, and showcased gets the marketers working hard at strategies. ‘Product’ is the offering that your company has for the market whether it is a tangible good or intangible good (services). The product development has various stages, and it is instrumental in being the deciding factor in many strategies. Various aspects of a product like the product life cycle, the type of need it services, and its positioning come into play with this P.

We can consider the example of Starbucks here, which was solely established to make good quality coffee and coffee beverages accessible to people. Starbucks’ approach to marketing is very focused on its product and the quality of the product provided to its customers.

The Promotion

Directly speaking, the mainstream meaning of the word ‘Promotion’ also applies here. The essence of promotion lies in the activities that a marketer does in order to showcase the product in the market in the right sense. Promotional activities involve multi-channel, multi-level marketing communications in the technical sense. In a more simplistic sense, these activities are the communications that the companies indulge in like advertising, direct calling, using social media channels, as well as print media. There are many instances of how promotional activities have set a product apart from its competitors in the industry. One such is the launch of Sony Xperia Z3 Dual in 2014 as an underwater pop-up store.

The Physical Evidence

Physical evidence is a part of the product. If your product is a tangible offering, then all of its material cues (packaging, business cards, brochures, company branding) will be taken notice of, by the consumers. However, these tangible cues are also attached to a product that is intangible. The example can be, every time you encounter a FedEx delivery vehicle, you’ll immediately recognize it because of its purple and orange color scheme. That’s how they’re set apart from all the other delivery companies.

All the people involved in the making, distributing, and selling of your company’s product are also essential. Mostly, services (intangible offerings) have marketing mixes which are focused on the people presenting the product. The employees you have in the store, the delivery personnels, the sales executives, all of it and more leave a lasting impression on the people. Hotels like Taj, Hyatt, JW Marriott are known for the people that work there to serve the consumers. These brands have established themselves and built loyal customer bases due to the kind of people they employ.

The Process

Process involves all the ways the company and its customers can engage in order to facilitate the product to reach the consumer. It’s a map of how the company and its offerings are accessible to the market. It isn’t just a means to an end, but a roadmap of the company’s operations.

Here again, we can consider Starbucks as it has so many different ways in which the company operates- joint ventures, retail store licensing operations, food service accounts, depending on which country they’re operating in. They have an interactive website in order to collect customer feedback and suggestions, which also tells people how accessible the company is for the consumers.

Now, rounding up these 7 colors of the rainbow. We see that all these aspects ring in something essential for the business to gain competitive advantage. Though every product, every industry will have a unique marketing mix, the underlying structure will always be based on these 7 elements.

The 9Ps of Marketing you say?

Well yes, in the recent times, there appears to have introduced 2 more Ps vs earlier mix, now making the concept 9Ps of Marketing mix. We’ll keep this one short given you’ve gotten the gist. The 8th P is Packaging. Why? Given how connected the packaging has become to a customers journey, we cannot really let this one go, can we? Take the example of Paper Boat, the reason it connects so well is because of the simple packaging.

The 9th P of Marketing is Payments, it talks about the initiatives that companies can undertake in order to make your payment procedure a little more simple. That is introduce one click payment, EMI options, etc.

Anyway, that is all.

And well, the Author

No, this isn’t the 10th P of marketing. However, we believe, given the world has evolved today, there must exist a new P, a new dimension of Marketing. Something around Data Analytics, maybe, Programming? eh?

Anyway, the piece was written by Mahek Mirchandani , a co-author at Casereads. We’ve uploaded 10+ MBA starter concepts to kick start your MBA journey, directly click here .

Before you go, if you liked this piece, and if you have a friend starting their MBA; Why not be a good friend and share this with them on WhatsApp ?

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Extended Marketing Mix (7P's)

Last updated 18 Feb 2018

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The extended marketing mix (7P's) is the combination of seven elements of marketing that aim to work together to achieve the objectives of a marketing strategy. These 7 elements are: product; price; place; promotion; people; process and physical.

The short video below provides an overview of the Extended Marketing Mix (7P's) concept and there are some additional study notes below the video.

Marketing mix
Extended Marketing Mix (7p's)

Marketing mix: place (revision presentation).

Teaching PowerPoints

Marketing Mix (Basic 4P's)

Product - introduction, promotional decisions, price - introduction, place (distribution) - introduction, marketing mix introduction (gcse), personal branding and the marketing mix.

7th September 2015

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Home Marketing Strategy The Marketing Mix: Building a Strategy With the 7Ps

The Marketing Mix: Building a Strategy With the 7Ps

“The marketing mix” aims to provide a complete framework for modern business models and marketing strategies across the entire customer journey.

While there are many variations of the marketing mix, the most common framework consists of seven elements, collectively known as the 7Ps. The idea is that a business can adopt the 7Ps principle and use it as a seven-step framework for building a successful marketing strategy that covers every stage of the buying process.

In this article, we look at how you can use the marketing mix to build a complete strategy, plus a few tips for improving the 7Ps model.

What is the 7Ps model?

The name derives from the seven elements outlined in the 7Ps model, which all begin with the letter “P”:

Physical evidence

The 7Ps model is an evolution upon the 4Ps model originally founded by E. Jerome McCarthy in 1960, in his book Marketing: A Managerial Approach . The original marketing mix concept was created during a time when the majority of businesses sold physical products and it was updated in the 1980s as more service-oriented businesses started to emerge.

The evolution from 4Ps to 7Ps

As mentioned in the previous section, Jerome McCarthy’s 4Ps model was created for businesses selling products to consumers.

As Smart Insights explains:

“The 4Ps were designed at a time where businesses were more likely to sell products, rather than services and the role of customer service in helping brand development wasn’t so well known.”

The original 4Ps included:

These same four elements still exist as the primary components of the 7Ps models. As business and consumer markets have evolved, the application of the marketing mix has adapted, too. In 1981, Bernard H. Booms and Mary J. Bitner expanded McCarthy’s model into the 7Ps marketing mix we know today.

While the original 4Ps remain in place, Booms and Bitner added a further three Ps in the mix:

Like its predecessor, the 7Ps marketing mix has adapted to the evolution of consumer trends and new technologies.

In his book, Digital Marketing: Strategy, Implementation and Practice , digital strategist and co-founder of Smart Insights, Dave Chaffey, refreshed the 7Ps model for the modern digital age.

Some marketers argue that the 7Ps model is outdated but, even in 2021, it’s the backbone for business models and marketing theories. In fact, even the older 4Ps model is as relevant today as it was in 1960, even if it doesn’t cover the entire marketing mix in the modern, digital age.

This will become more obvious throughout the rest of this article as we look at each of the 7Ps individually and, later, assess whether there are any gaps or weaknesses in the model.

Applying the 7Ps to digital marketing

Now that you understand the basic premise of the marketing mix, let’s take a closer look at the 7Ps model that’s most widely associated with it today. Let’s start by reminding ourselves of what the 7Ps stand for and explain a bit about what they actually mean.

Product: The product or service, including its features, unique selling points and the overall quality on offer.
Promotion: The methods used to promote the product across multiple channels.
Price: The long-term pricing strategy of the product in question, including sales, discounts & deals.
Place: Where people find your product, learn about it and, ultimately, buy it.
People: The people who come into contact with your target customers – both directly and indirectly.
Process: Your methods for delivering the product to customers and providing the best possible experience.
Physical evidence: Tangible items and experiences that tell customers your offer is real – for digital, this can include website visits, confirmation emails, testimonials, customer reviews and more.

We’re sticking to the original 7Ps model for this part of the article but we’ll look at ways you can adapt and expand it even further to meet the needs of your business later on.

#1: Product

At the end of the day, if you’ve got a lousy product – especially in this day and age – you’re going to have a hard time marketing it.

The key elements of the product in your marketing mix can vary, depending on which market you’re and who your target audiences are. But, at the very least, you should invest good resources into the following:

Quality: Higher product quality makes everything else you do in marketing and sales so much easier.
Image: This refers to how people see your product and this is what separates products like the iPhone from Android devices or sports cars from cheaper, more practical vehicles.
Branding: Closely linked to “image”, this is the brand story you build around your product and how it incorporates with your wider brand image.
Features: The features of your product or service, which should place a heavy emphasis on USPs and benefits for your target customers.
Variants: The different versions of your product or service, who they target and how you differentiate them.

The list could go on-and-on for Product and if you go back to Dave Chaffey’s version of the 7Ps we looked at earlier, you’ll see this is the longest list in his visualisation.

Take TrueNorth for example. The first thing you see on the homepage is the Product; It’s branding (both the name and visual style), product imagery, and a video walking through the product features.

#2: Promotion

Above all, you need to be present where your target audiences are active and interested in a brand like yours.

Given the rapid evolution of multi-channel marketing, this is one area where a version of the 7Ps model from as recent as five years ago can quickly look dated.

Here are some key elements to consider:

Multi-channel marketing: The consumer journey takes place across more devices, sessions and platforms than ever before, making it all the more important that you’re present on the channels that matter most to your target audiences.
Personalised experiences: The more relevant you can make experiences to individual users, the more engaging your messages become and the more “locked-in” customers are to your brand.
Integrated marketing & sales: Today’s brands need seamless integration between marketing and sales strategies to prevent leads getting lost along the funnel.
Lead nurturing: A lot of brands make the mistake of focusing all of their attention on lead generation without dedicated enough resources to lead nurturing – especially customer retention.
Branding: Today’s consumers want authentic experiences and brands are scrutinised for their ethical practices, making brand image more important – and fragile – than ever.
PR: Brands don’t always give PR the attention it deserves in the digital age but it’s an invaluable tool for building, maintaining and even changing your brand image.
Automation: As the digital marketing workload increases, brands need to automate as many repetitive tasks as they can to manage multi-channel campaigns successfully, maintain costs and achieve the fastest possible growth.

There’s no doubt that the Promotion aspect of the 7Ps model is getting more challenging with every year that passes, as technology and consumer trends become more complex.

The days of running a few TV ads and blasting out some unsolicited email campaigns are long behind us.

Today’s brands need to use the right marketing and sales software to maximise productivity, automate repetitive tasks and manage campaigns across an ever-growing number of channels.

Take a look at some of our software recommendation articles for help with this:

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Price is pretty self-explanatory but the mistake companies normally make is underestimating the amount of detail that goes into pricing a single product – let alone an entire range of products or services.

Here’s a list of just some of the things you need to strategise:

Positioning: Where do you see your product, service or brand positioning in the market?
Competition: The price of rival products, brand image of rival brands and competing quality of the products on offer.
Justification: As soon as someone spends money on goods or a service, they instinctively spend time trying to justify the expense – and you need to make sure the result is worth the asking price.
Discounts: Discounts should be strategic and planned out to maximise interest, demand and sales – not to clear unwanted items off the shelves.
Credit: Are you going to offer credit options to make large purchases and expenses more manageable for your customers?
Payment methods: Which payment methods are you going to provide your target customers?
Free or value-added elements: Which freebies, value-added elements and incentives are you going to use to sweeten the deal for your prospects.

Value is highly subjective and the happiness of your customers with their purchases is determined far more by emotion than logic. As we’ve explained before in our articles on cognitive biases , you can influence consumer perception with simple psychological techniques.

A common example of this is software pricing pages where companies start with the most expensive price on the left side of the page. This exploits a cognitive weakness known as anchoring bias where people instinctively set the first piece of information they see as default, meaning any lower prices that follow naturally feel like good value.

Place is the final P in the original 4Ps model and this traditionally refers to the place where customers physically buy products and services. Of course, in the digital age, things are a little more complex and we have to expand the concept of place across multiple channels throughout the customer journey:

Discovery: The “places” both online and offline where potential customers discover your brand and its products/services.
Browsing: The locations where prospects can browse through your offers alongside competitors (e.g.: an online store) or within your own domain (e.g.: a product category on your website).
Learn: Places where target audiences can learn more about your products or services, such as third-party reviews.
Comparison: Where potential customers go to compare your offers against rival brands.
Physical interaction: Any place where prospects are able to physically touch the product or service (if relevant) although this could apply to free trials and demos for digital products, too.
Purchases: Online and offline locations where your customers can purchase from you.
Customer services: The channels where customers can reach out for care after making the initial purchase.
Retention: The channels you use to target customers after the initial purchase to entice further sales.

Place in the digital age refers to every strategic location where potential customers engage with your brand and its product or services – both before and after the sale.

The point is, you need to control these locations, which starts with choosing the right channels of discovery to capture new leads and then nurturing prospects along the sales funnel with targeted interactions.

In today’s customer-centric approach to marketing, you might assume “People” refers to your target audiences, buyer personas and customers. However, the People in the 7Ps model actually refers to the people within your organisation that interact with your customers – both directly and indirectly:

Marketers: The 7Ps model highlights the importance of hiring the best talent for every position on your marketing team.
Sales team members: These are the people who typically handle the first person-to-person interactions with your customers – and often seal the deal.
Customer service team: The individuals tasked with keeping your customers happy, even when things aren’t quite going to plan.
Recruitment: Hiring the best talent starts with having quality recruitment personnel.
Training & skills: The people responsible for ensuring all of your team members encompass the brand ethos and meet your requirements.
Managers: The people with people skills to manage teams, get the best out of everyone and ensure you hit targets.

Chances are, you’ll have several other groups or teams included in your People. Here at Venture Harbour, we’ve got the developers who build and test our products, designers who create the best possible experience for our customers and a pool of freelancers we turn to for a range of different tasks.

Everyone in our team contributes to building and delivering the best product and experiences we can to our customers – and it’s important we recognise the value in that.

For more information on how to build and manage a marketing team effectively, you can read our guide:

Marketing Teams: How to Structure & Manage Them Effectively

#6: Process

Process in the 7Ps model refers to your processes for delivering the product or service to your customers, as well as any additional customer service and post-purchase systems you have in place.

At the very least, you should have processes in place for the following:

Customer-end delivery: The customer’s process for attaining your product or service, whether it’s ordered online and delivered via a courier, bought in-store, downloaded from your website or accessed through an online sign-up process.
Business-end delivery: Your processes for facilitating customer-end delivery and safeguards for resolving any potential issues (e.g.: technical issues preventing online purchases).
Customer service: Your processes, systems and channels for providing customer service beyond the initial sale.
Resolutions: Your processes for dealing with problems that prevent usual delivery systems from completing successfully and instances where customers are unhappy with the process/service received.
Incentives: Measures designed to keep unhappy customers engaged with your brand so you can keep them on board and win them over.
Returns & refunds: Your systems for dealing with returns, cancellations, refunds and any other processes for customers who refuse to stay on board.
Feedback: Your processes for collecting customer feedback and applying these insights to product/service improvements.
T&Cs: The terms and conditions that your customers agree to, specifying your processes and protecting your business in any instance where things don’t go to plan.

Today’s customers have more options than ever and modern businesses need to satisfy these expectations – from delivery methods and payment options to customer service channels and financial guarantees.

If you’re doing this properly, you’ll be forced to make some difficult decisions and it’s not always a question of doing what’s best for the customer. For example, you don’t want to make it too easy for customers to seek a refund, return items or close accounts. You want to carefully add some friction here and there to provide crucial time for resolving issues and encourage continued use.

Once again, technology can help you strike the right balance between customer care and profitability – for example, using chatbots to handle the first interactions with customers. Likewise, personalised automated email responses can cut the perceived time it takes for human team members to contact customers directly.

#7: Physical evidence

Of course, these are all forms for physical evidence today but, in the digital age, we have to reconsider our definition of “physical”.

So what does physical evidence really achieve?

Well, on one hand, it helps customers feel more confident that they’re dealing with a legitimate business before they make a purchase. A company with stores across the country, great products and nice packaging must be doing pretty well for itself and, surely, this wouldn’t be possible if they weren’t taking good care of their customers – right?

The second key role physical evidence plays is after the initial sale by providing customers with evidence that the transaction took place, their payment was received and their products or services will be delivered.

Places: This was the fourth P on our list of 7Ps and these locations act as physical evidence – whether it’s your website, physical stores or trusted third-party platforms.
Third-party evidence: Customer reviews, press coverage in major publications and positive press are especially important in the digital age where simply having a website doesn’t provide the level of physical evidence real-world stores.
Online experience: That said, the quality of your website and the user experience it provides are crucial forms of physical evidence in the modern consumer journey.
Feedback: Sales staff provide all kinds of feedback through conversation, facial expressions and body language, which is lost in the online experience. So it’s important to design intuitive feedback into the experience – everything from click confirmations and animations to on-page feedback when forms are completed and payments are submitted.
Order confirmation: Whether it’s physical receipts or confirmation emails, customers need to know their transactions are successful.
Product packaging: Both the physical and digital packaging/branding of your products or services.

By providing feedback across the entire customer journey, you can confirm that every little interaction is successful and build reassurance as they get closer to putting their money on the line.

What are the limitations of the 7Ps model?

There’s no such thing as a perfect marketing model and, no matter how comprehensive a list we make for each of the 7Ps, there’s no way it can cover every aspect of a digital marketing strategy.

In fact, there are various different versions of an 8th P added to the model of seven, depending on which marker you speak to. As Smart Insights explains in this article , “An eighth P, ‘Partners’ is often recommended for businesses to gain reach online… although some would argue it’s part of Place.”

Other incarnations of a proposed 8Ps model may include Performance, Productivity, Packaging or a range of other alliterated alternatives for the enigmatic title of the eighth P.

If this debate tells us anything, it’s that the 7Ps model clearly has its limitations and there have been plenty of expansions or alternatives proposed in the past.

For me, the glaring omission in the 4Ps and 7Ps models is the lack of reference to the end customer in both of them. In fact, on a broader scale, neither model even makes a reference to market research and ensuring there’s a large enough target audience for the product or a demand for it.

I guess you could solve this problem without changing the 7Ps model by simply including customers in People and market research in Product. However, stronger alternatives have been offered in “the age of the customer” while others can be used to expand upon the 7Ps model.

In 1990, Robert F. Lauterborn proposed his customer-centric alternative to the 4Ps model, which we can crudely call the 4Cs:

Customer needs
Convenience
Communication

This offers a more customer-centric alternative to the traditional 4Ps model that feels a lot more suitable for the modern age. However, there are problems with simply replacing the Ps for Cs.

As we mentioned in the Process section earlier, if you only consider the customer in your delivery methods, you can easily overlook the business management side of things. Likewise, if you think of the customer with your customer service processes, then you can end up creating a system that hurts your bottom line – either by being too generous or overspending on your customer care systems.

While it sounds great to talk about the customer experience as the priority (perhaps it should be), it’s not the only factor in a successful business, by any means – or a complete marketing strategy for that matter.

As Hannah Tow suggests in her article for G2 , we might be better off extending the 7Ps even further to include the 4Cs, allowing us to look at Price from the business’ perspective and also the Cost from the customer’s point of view.

Create the model that works for you (and your customers)

It’s a model that you should scrutinise, adapt and reshape to suit your business, your target audiences and your customers. Whether this means staying relatively true to the original 7Ps, expanding it with the 4Cs or coming up with your own version is entirely up to you.

Just make sure you cover all of the essential bases to avoid leaving gaps in your marketing strategy and the customer experience.

Getting your marketing mix structured & organised

We’ve broken down a lot of theory, but how do you actually apply this and ensure you have marketing activity across all stages of the marketing mix?

Well, initially you may consider running an audit across all seven areas to identify which areas need attention. From there, you will want to come up with ideas and begin tracking these as campaigns/tasks in whichever tool you use to manage your marketing.

In TrueNorth , for example, you could allocate budget across the 7Ps and even track your marketing activity and results according to the various 7Ps to ensure you are doing enough in each area and to separate the campaigns that are designed to improve each of the seven areas.

While there’s no right or wrong way to do it, the key is to ensure you take stock of where you are and have a clear system in place to constantly improve in all areas of the marketing mix over time.

Aaron Brooks is a copywriter & digital strategist specialising in helping agencies & software companies find their voice in a crowded space.

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The 7 Ps of Marketing Mix

The Seven Ps of Marketing is a relatively simple framework that can be used by any organisation or manager to plan marketing activities and a marketing strategy .

It is useful because it ensures that you look across each area together, and consider how they might be related.

The Seven Ps started as just four: product, price, place and promotion. Over time, as marketers became more aware, and practices and businesses changed, three more have been added: people, processes, and physical evidence.

This page explores each of these areas in turn, looking at the important aspects to consider when planning marketing activity.

The 7p's of Marketing Mix. Product, Price, Place, People, Promotion, Processes, Physical Evidence.

Product first, or customer?

Apple is said to have developed the iPod without checking for customer demand first. Steve Jobs was apparently convinced — correctly, as it turned out — that people would want to buy his product.

History, however, is littered with less successful examples of companies who have developed a product first, and worried about finding customers later. It is true that customers do not always know what they want . They do, however, often have an idea of what they lack, or the problem they are trying to solve.

Doing some good customer research in advance of any development costs will ensure that you do not waste any time or money on products that nobody wants to buy.

It is also helpful to check back with your customers during the development to ensure that you are still developing the right product. In particular, check that you are not over-engineering the quality: sometimes good enough is all that is necessary or required.

The price that you charge is important, because it will determine the profit that you make on the product or service.

It must, therefore, be greater than the cost of producing the goods or services.

However, a product is only worth what someone is prepared to pay for it, so it needs to be priced competitively: consistent with what others are charging for similar goods or services.

Pricing also sends a signal to your customers:

Cheap often indicates a ‘no-frills’ product, without any added extras.
Expensive may indicate a ‘luxury’ product, or one that has some added value such as improved customer service.

What you charge will therefore influence your customers’ expectations of your product or service, and you need to ensure that you meet those expectations .

‘Place’ describes where and how your customers will buy your product or service, and how it will reach them.

This might be, for example, through your website, or in a particular shop or shops.

In considering ‘place’, you need to decide two things:

How you will get the goods to that place; and
How you will get the goods to the customer.

Research shows that delivery of goods bought online is very important to overall customer satisfaction, so should be a part of your overall strategy.

Promotion is how you communicate what you do and/or sell to your customers.

'Promotion' includes a whole range of activities, from branding through social media activity and advertising to sales management and special offers. It is designed to show customers why they should buy your product or service , and should therefore focus on benefits, and not just features.

Perhaps the most important thing to remember is that promotion is NOT one-way . Instead, you should see it as the way to start a conversation with your customers, and with your employees, who also need to understand the product.

It is important to look at a variety of channels, including print, online and mobile. Your promotion activity should focus on where your customers are, whether that is particular social media sites, or newspapers.

Your customers are unlikely to separate the product or service from those who provide it.

Your staff—and that means anyone who comes into contact with customers, even remotely, through something that they have written for the company website—are therefore vital. They will have an important effect on customer satisfaction . This is even more important now, because so many people are active on social media, and staff therefore can (and will) communicate with customers directly.

Staff will need to be adequately trained to understand their importance, and how to deal with customers.

Physical evidence

Physical evidence refers to what the customer ‘sees’ of your product. It shows them what it would be like to own or use it.

It therefore includes your website, or your business premises or shop, models wearing your clothes, or photos of them doing so. It also includes customer testimonials, especially if they are on an independent reviewing site, and not under your control.

Like price, the physical evidence sends an important signal to your customer about your product , so it is important that, for example, your website sends the right impression of your product or service.

A collective endeavour

Marketing as a whole relies on all seven Ps.

It is essential to consider them as a whole, and not in isolation. Customers must experience a coherent view of your company and your product, and that can only come from viewing the customer experience from end-to-end across all seven Ps.

Continue to: Customer Segmentation Strategic Marketing

See also: 5 Marketing-Based Skills to Learn During Lockdown Workplace Confidentiality

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The Marketing Mix: Build a Complete Strategy With the 7Ps

“The marketing mix” aims to provide a complete framework for modern business models and marketing strategies across the entire customer journey. While there are many variations of the marketing mix, the most common framework consists of seven elements, collectively known as the 7Ps. The idea is that a business can adopt the 7Ps principle and use it as a seven-step framework for building a successful marketing strategy that covers every stage of the buying process. In this article, we look at how you can use the marketing mix to build a complete strategy, plus a few tips for improving the 7Ps model.

See you on the action-field,

Raksha Sukhia, SMB Growth Expert, Founder BBR Network. #bbrnetwork

What is the 7Ps model?

The 7Ps marketing model is a framework designed to help businesses build a complete marketing strategy, from start to finish. In theory, a new business should be able to use the 7Ps model to devise an entire marketing strategy from scratch. The name derives from the seven elements outlined in the 7Ps model, which all begin with the letter “P”:

Physical evidence

The 7Ps model is an evolution upon the 4Ps model originally founded by E. Jerome McCarthy in 1960, in his book Marketing: A Managerial Approach. The original marketing mix concept was created during a time when the majority of businesses sold physical products and it was updated in the 1980s as more service-oriented businesses started to emerge.

The evolution from 4Ps to 7Ps

As mentioned in the previous section, Jerome McCarthy’s 4Ps model was created for businesses selling products to consumers.

As Smart Insights explains:

“The 4Ps were designed at a time where businesses were more likely to sell products, rather than services and the role of customer service in helping brand development wasn’t so well known.”

The original 4Ps included:

While the original 4Ps remain in place, Booms and Bitner added a further three Ps in the mix:

The 7Ps model was created to reflect the emergence of service-oriented businesses where “Product” can mean either prospects or services. The expanded model also increases the emphasis upon customer service, as a result of increased consumer power and competition in every industry. Like its predecessor, the 7Ps marketing mix has adapted to the evolution of consumer trends and new technologies. In his book, Digital Marketing: Strategy, Implementation and Practice, digital strategist and co-founder of Smart Insights, Dave Chaffey, refreshed the 7Ps model for the modern digital age.

Some marketers argue that the 7Ps model is outdated but, even in 2020, it’s the backbone for business models and marketing theories. In fact, even the older 4Ps model is as relevant today as it was in 1960, even if it doesn’t cover the entire marketing mix in the modern, digital age. This will become more obvious throughout the rest of this article as we look at each of the 7Ps individually and, later, assess whether there are any gaps or weaknesses in the model.

Applying the 7Ps to digital marketing

1. Product: The product or service, including its features, unique selling points and the overall quality on offer.

2. Promotion: The methods used to promote the product across multiple channels.

3. Price: The long-term pricing strategy of the product in question, including sales, discounts & deals.

4. Place: Where people find your product, learn about it and, ultimately, buy it.

5. People: The people who come into contact with your target customers – both directly and indirectly.

6. Process: Your methods for delivering the product to customers and providing the best possible experience.

7. Physical evidence: Tangible items and experiences that tell customers your offer is real – for digital, this can include website visits, confirmation emails, testimonials, customer reviews and more.

Now, it’s worth reaffirming the point that the original 4Ps are solid figures in the updated 7Ps model but you will find some variation in the three additional Ps added into this model, depending on where you get your information from. We’re sticking to the original 7Ps model for this part of the article but we’ll look at ways you can adapt and expand it even further to meet the needs of your business later on.

#1: Product

The first P in this marketing model is “Product” and this is almost unanimously featured as the first P in all versions of the marketing mix. This is because one of the core principles of this theory is that marketing begins with your product. At the end of the day, if you’ve got a lousy product – especially in this day and age – you’re going to have a hard time marketing it. The key elements of the product in your marketing mix can vary, depending on which market you’re and who your target audiences are. But, at the very least, you should invest good resources into the following:

Quality: Higher product quality makes everything else you do in marketing and sales so much easier.

Image: This refers to how people see your product and this is what separates products like the iPhone from Android devices or sports cars from cheaper, more practical vehicles.

Branding: Closely linked to “image”, this is the brand story you build around your product and how it incorporates with your wider brand image.

Features: The features of your product or service, which should place a heavy emphasis on USPs and benefits for your target customers.

Variants: The different versions of your product or service, who they target and how you differentiate them.

The list could go on-and-on for Product and if you go back to Dave Chaffey’s version of the 7Ps we looked at earlier, you’ll see this is the longest list in his visualisation.

His list isn’t definitive or complete either; it’s up to you to decide which items belong on this list for your business. The point is that your product (or service) is the focal point of your marketing strategies and you want to do everything you can to ensure the right level of quality is there. In terms of the branding aspects, this varies from one business to the next. Companies like Apple and Nike put huge resources into the branding of their products, not only the brand name itself. This isn’t necessarily the case companies like Google, Amazon or Intel that put more emphasis on market penetration.

#2: Promotion

Promotion refers to your marketing, advertising and sales activities across all channels. Once again, your channels of choice will vary depending on the nature of your business. For example, a B2B company may prioritise account-based marketing while a B2C company in the same industry might focus more on direct marketing methods. Above all, you need to be present where your target audiences are active and interested in a brand like yours. Given the rapid evolution of multi-channel marketing, this is one area where a version of the 7Ps model from as recent as five years ago can quickly look dated. Here are some key elements to consider in 2021:

Multi-channel marketing: The consumer journey takes place across more devices, sessions and platforms than ever before, making it all the more important that you’re present on the channels that matter most to your target audiences.

Personalised experiences: The more relevant you can make experiences to individual users, the more engaging your messages become and the more “locked-in” customers are to your brand.

Integrated marketing & sales: Today’s brands need seamless integration between marketing and sales strategies to prevent leads getting lost along the funnel.

Lead nurturing: A lot of brands make the mistake of focusing all of their attention on lead generation without dedicated enough resources to lead nurturing – especially customer retention.

Branding: Today’s consumers want authentic experiences and brands are scrutinised for their ethical practices, making brand image more important – and fragile – than ever.

PR: Brands don’t always give PR the attention it deserves in the digital age but it’s an invaluable tool for building, maintaining and even changing your brand image.

Automation: As the digital marketing workload increases, brands need to automate as many repetitive tasks as they can to manage multi-channel campaigns successfully, maintain costs and achieve the fastest possible growth.

There’s no doubt that the Promotion aspect of the 7Ps model is getting more challenging with every year that passes, as technology and consumer trends become more complex. The days of running a few TV ads and blasting out some unsolicited email campaigns are long behind us.

Today’s brands need to use the right marketing and sales software to maximise productivity, automate repetitive tasks and manage campaigns across an ever-growing number of channels.

Positioning: Where do you see your product, service or brand positioning in the market?

Competition: The price of rival products, brand image of rival brands and competing quality of the products on offer.

Justification: As soon as someone spends money on goods or a service, they instinctively spend time trying to justify the expense – and you need to make sure the result is worth the asking price.

Discounts: Discounts should be strategic and planned out to maximise interest, demand and sales – not to clear unwanted items off the shelves.

Credit: Are you going to offer credit options to make large purchases and expenses more manageable for your customers?

Payment methods: Which payment methods are you going to provide your target customers?

Free or value-added elements: Which freebies, value-added elements and incentives are you going to use to sweeten the deal for your prospects.

Value is highly subjective and the happiness of your customers with their purchases is determined far more by emotion than logic. As we’ve explained before in our articles on cognitive biases, you can influence consumer perception with simple psychological techniques.

Discovery: The “places” both online and offline where potential customers discover your brand and its products/services.

Browsing: The locations where prospects can browse through your offers alongside competitors (eg: an online store) or within your own domain (eg: a product category on your website).

Learn: Places where target audiences can learn more about your products or services, such as third-party reviews.

Comparison: Where potential customers go to compare your offers against rival brands.

Physical interaction: Any place where prospects are able to physically touch the product or service (if relevant) although this could apply to free trials and demos for digital products, too.

Purchases: Online and offline locations where your customers can purchase from you.

Customer services: The channels where customers can reach out for care after making the initial purchase.

Retention: The channels you use to target customers after the initial purchase to entice further sales.

Place in the digital age refers to every strategic location where potential customers engage with your brand and its product or services – both before and after the sale.

10-VH-Go-To-Market-Strategy-funnel-1024x582

Marketers: The 7Ps model highlights the importance of hiring the best talent for every position on your marketing team.

Sales team members: These are the people who typically handle the first person-to-person interactions with your customers – and often seal the deal.

Customer service team: The individuals tasked with keeping your customers happy, even when things aren’t quite going to plan.

Recruitment: Hiring the best talent starts with having quality recruitment personnel.

Training & skills: The people responsible for ensuring all of your team members encompass the brand ethos and meet your requirements.

Managers: The people with people skills to manage teams, get the best out of everyone and ensure you hit targets.

Everyone in our team contributes to building and delivering the best product and experiences we can to our customers – and it’s important we recognise the value in that.

#6: Process

Process in the 7Ps model refers to your processes for delivering the product or service to your customers, as well as any additional customer service and post-purchase systems you have in place. At the very least, you should have processes in place for the following:

Customer-end delivery: The customer’s process for attaining your product or service, whether it’s ordered online and delivered via a courier, bought in-store, downloaded from your website or accessed through an online signup process.

Business-end delivery: Your processes for facilitating customer-end delivery and safeguards for resolving any potential issues (eg: technical issues preventing online purchases).

Customer service: Your processes, systems and channels for providing customer service beyond the initial sale.

Resolutions: Your processes for dealing with problems that prevent usual delivery systems from completing successfully and instances where customers are unhappy with the process/service received.

Incentives: Measures designed to keep unhappy customers engaged with your brand so you can keep them on board and win them over.

Returns & refunds: Your systems for dealing with returns, cancellations, refunds and any other processes for customers who refuse to stay on board.

Feedback: Your processes for collecting customer feedback and applying these insights to product/service improvements.

T&Cs: The terms and conditions that your customers agree to, specifying your processes and protecting your business in any instance where things don’t go to plan.

You have to carefully and strategically build processes for every customer interaction, down to the finest detail. When your primary method of delivering products or services to your customers fails, you need a solid backup plan – and another one for when your Plan B fails, too. Today’s customers have more options than ever and modern businesses need to satisfy these expectations – from delivery methods and payment options to customer service channels and financial guarantees. If you’re doing this properly, you’ll be forced to make some difficult decisions and it’s not always a question of doing what’s best for the customer. For example, you don’t want to make it too easy for customers to seek a refund, return items or close accounts. You want to carefully add some friction here and there to provide crucial time for resolving issues and encourage continued use.

Likewise, your customer service processes need to be effective in terms of keeping customers on your side but they also need to be affordable and it’s not always realistic to have an in-house team of customer care staff sitting by the phones every day. Once again, technology can help you strike the right balance between customer care and profitability – for example, using chatbots to handle the first interactions with customers. Likewise, personalised automated email responses can cut the perceived time it takes for human team members to contact customers directly.

#7: Physical evidence

The final P in the 7Ps stands for Physical evidence and this used to refer to actual physical items and forms of interaction: products, stores, receipts, packaging, bags and other branded items that could be seen and touched. Of course, these are all forms for physical evidence today but, in the digital age, we have to reconsider our definition of “physical”. So what does physical evidence really achieve? Well, on one hand, it helps customers feel more confident that they’re dealing with a legitimate business before they make a purchase. A company with stores across the country, great products and nice packaging must be doing pretty well for itself and, surely, this wouldn’t be possible if they weren’t taking good care of their customers – right?

Places: This was the fourth P on our list of 7Ps and these locations act as physical evidence – whether it’s your website, physical stores or trusted third-party platforms.

Third-party evidence: Customer reviews, press coverage in major publications and positive press are especially important in the digital age where simply having a website doesn’t provide the level of physical evidence real-world stores.

Online experience: That said, the quality of your website and the user experience it provides are crucial forms of physical evidence in the modern consumer journey.

Feedback: Sales staff provide all kinds of feedback through conversation, facial expressions and body language, which is lost in the online experience. So it’s important to design intuitive feedback into the experience – everything from click confirmations and animations to on-page feedback when forms are completed and payments are submitted.

Order confirmation: Whether it’s physical receipts or confirmation emails, customers need to know their transactions are successful.

Product packaging: Both the physical and digital packaging/branding of your products or services.

Physical evidence is primarily about easing consumer concerns and purchase anxieties by reassuring potential customers that your business is legitimate, their money is in good hands and the purchase is going to go smoothly. By providing feedback across the entire customer journey, you can confirm that every little interaction is successful and build reassurance as they get closer to putting their money on the line.

There’s no such thing as a perfect marketing model and, no matter how comprehensive a list we make for each of the 7Ps, there’s no way it can cover every aspect of a digital marketing strategy. In fact, there are various different versions of an 8th P added to the model of seven, depending on which marker you speak to. As Smart Insights explains in this article, “An eighth P, ‘Partners’ is often recommended for businesses to gain reach online… although some would argue it’s part of Place.” Other incarnations of a proposed 8Ps model may include Performance, Productivity, Packaging or a range of other alliterated alternatives for the enigmatic title of the eighth P. If this debate tells us anything, it’s that the 7Ps model clearly has its limitations and there have been plenty of expansions or alternatives proposed in the past. For me, the glaring omission in the 4Ps and 7Ps models is the lack of reference to the end customer in both of them. In fact, on a broader scale, neither model even makes a reference to market research and ensuring there’s a large enough target audience for the product or a demand for it. I guess you could solve this problem without changing the 7Ps model by simply including customers in People and market research in Product. However, stronger alternatives have been offered in “the age of the customer” while others can be used to expand upon the 7Ps model.

Create the model that works for you (and your customers)

The 7Ps model isn’t a fixed framework that you have to follow religiously. It’s more of a template that helps you consider every aspect of marketing across the entire journey – so you don’t overlook key factors like how physical evidence increases confidence and enhances the customer experience. It’s a model that you should scrutinise, adapt and reshape to suit your business, your target audiences and your customers. Whether this means staying relatively true to the original 7Ps, expanding it with the 4Cs or coming up with your own version is entirely up to you. Just make sure you cover all of the essential bases to avoid leaving gaps in your marketing strategy and the customer experience.

Source: ventureharbour

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7Ps of Marketing Mix Template

Wondering what are the 7Ps of marketing mix? Check out our marketing mix template and get a custom report in 3 simple steps. Add the data, choose the design, and download the result.

Our 7Ps framework generator is a simple and efficient tool that helps businesses and organizations to define the primary areas that influence product and service marketing. It is a free tool that generates customized reports for your project within a few minutes. Apart from being user-friendly, it is also easily accessible online.

📊 How to Use the Template
🚀 7 Ps of Marketing Mix Explained
✅ The Tool’s Benefits

🔗 References

📊 how to use 7ps marketing mix template.

You don't have to stress about using the 7Ps framework tool because it generates impressive results in a few clicks.

Get your marketing mix by following the simple steps below:

Enter your business data
Select a suitable design
Download your results in pdf format

You will get the best model to make your marketing plan more effective.

🚀 7Ps of Marketing Mix Explained

You must understand the definition of the 7Ps of marketing before we proceed.

It is an approach that comprises seven principles that experts use to develop and implement strategies that enhance customer engagement and generates revenue.

Read on to gain a deeper understanding of the 7Ps framework.

Who Created the 7Ps of Marketing?

E. Jerome McCarthy was the originator of the 4Ps marketing model. Later on, in 1982, Mary J. Bitner and Bernard H. Boom improved the marketing mix and made it better from four to seven components. Thus, the 7ps marketing mix is a significant aspect in many companies offering services and business environments offering intensive knowledge to customers. It helps to evaluate the marketing strategy to make it more practical and effective.

What Are the 7P's of Marketing Mix?

Below are the 7Ps of the marketing mix to assist you in creating and implementing a great marketing strategy.

7 Ps of Marketing Mix

What is process in 7ps of marketing.

The process is an essential component in marketing since it ensures order in operations. Many businesses often train employees to work using a set procedure. Such processes allow the employee to provide efficient services. Besides, return clients will be accustomed to a consistent standard of operations. Process mapping is an approach that most businesses use to guarantee efficiency. It contains visual maps with symbols, details, or flowcharts with examples of each process.

📂 7Ps Framework Free Example

Let's take an example of Amazon 's 7Ps framework:

Product. Amazon offers products and service delivery. Some products include books, movies, music, clothes, and games. Customers perceive Amazon's products to be of high quality.
Price. Prices are lower than average market costs. The company buys products directly from the manufacturer and sells them to customers at reasonable rates.
Place. The company operates in the online marketplace . Any person worldwide can access the platform.
Promotion. Amazon uses several media channels for promotion – TV and radio advertisements. It also uses social media platforms to create awareness.
People. People who are involved in buying, selling, and delivering products. It also involves the employees managing the company website.
Process. The processes include customer membership, payments, shipping, placing, and confirming the order. Also, the customers should receive a confirmation email.
Physical evidence. Website visibility on other web pages. High rankings on search engines give customers physical cues about the company.

✅ 7Ps Generator Benefits

The 7ps generator is an essential tool for businesses because it helps to streamline the marketing approach. You can't overlook the importance of proper planning when it comes to marketing. Having an air-tight marketing strategy is vital in helping your business goals.

Our 7Ps generator is beneficial because of the following reasons:

Free. It is a free tool that you can easily access online. No payments or subscription fees.
No extensions. It is an online tool without downloadable apps or extensions you must install before using.
Simple. It is a user-friendly tool
Saves time. You can generate your customized model within a few minutes. So, it is a time0saving tool without any complicated entries.

Thank you for reading this article! If you want to try other free business analysis templates, check our 4Ps generator , STP template , 7S template generator , and a SMART goals maker .

Updated: Oct 25th, 2023

How the 7 Ps of Marketing Fit Into Your Marketing Mix
How to use the 7Ps Marketing Mix strategy model?
The 7 Ps of Marketing - Entrepreneur
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Marketing Mix - Definition - The Economic Times
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This page contains 7Ps Marketing Mix template. This simple yet efficient tool can help businesses and organizations to define the primary areas that influence product and service marketing. The methodology was initially developed in the 1960s as a four-component model and later improved in 1982.

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Services Marketing Mix: The 7 P’s of Marketing

In this article:

The Services Marketing Mix consists of a set of tactics that a company can use to promote and encourage potential customers to buy their service. The Services Marketing Mix is also known as the 7 P’s of Marketing.

The Services Marketing Mix is unique to services. The model is an extension of Product Marketing Mix (also known as the 4 P’s of Marketing). All four tactics of the Product Marketing Mix used to market products remain, but three new tactics are added. The additional 3 P’s (or tactics) are needed to adequately capture the options available to market and promote services.

Before we examine the model let’s first examine how services differ from physical products. Unlike physical goods, services are:

Intangible : they cannot be seen, tasted, or touched.
Inseparable : production cannot be separated from consumption.
Perishable : Once used, services cannot be stored, saved, or returned.
Heterogeneous : describes the uniqueness of services, meaning they cannot be mass produced.

Examples of businesses providing services include airlines, hotels, and SaaS (Software as a Service) companies.

The original marketing mix was proposed by Jerome McCarthy in his 1960 book Basic Marketing. Extending this model to services, the Services Marketing Mix was developed by Bernard H. Booms and Mary J. Bitner in 1981.

The 7 P’s of Marketing

The Services Marketing Mix (or 7 P’s of Marketing) is shown in the following diagram.

As can be seen above, the Services Marketing Mix consists of the original Product Marketing Mix :

But these four tactics were extended by three to create the Services Marketing Mix:

Physical Evidence

The Product Marketing Mix (4 P’s)

Let’s examine each element of the Product Marketing Mix as it applies to services:

Product refers to the service a company wishes to sell. This could be flights in the case of an airline or rooms in the case of a hotel.

Because services are intangible it can help to think of services as being an asset plus the processes around it. When you book a hotel room for a night you use the hotel room for an evening (the asset). But you also undergo a series of processes such as checking-in, checking-out, and having your luggage brought up to the room etc.

Price refers to the price a customer pays for the service. Pricing for services can be little more complex than for products.

For example, an airline charging for flights would need to consider many factors:

Will we charge a fixed price for a seat?
Will we charge more as the flight gets increasingly booked?
Will we charge more for peak times?
Will we offer discounts for group bookings?

These are just a few of the factors that might need to be taken into account when determining the price of flights.

Interestingly, because services are much more ambiguous than products, customers are likely to associate a higher priced service with superior quality.

For services, place refers to the ease of access that customers have to a service. This can involve a physical decision such as where to locate a hotel. It also involves determining which intermediaries or affiliates to use to help you sell the service, for example, hotels.com.

4. Promotion

Promotion refers to the different ways you communicate, describe, and advertise your product.

Because they are intangible, services can be more difficult than products to promote. This is because there is nothing physical that can be assessed by a potential customer. Common ways to promote services include:

Using celebrity endorsements to create trust in the product.
Offering guarantees to remove risk.
Using testimonials.
Listing any “household name” customers.
Using branding to highlight the quality of a product.

The Services Marketing Mix

By people, we mean those people who are directly or indirectly involved in the delivery of the service. This typically means employees of the company. But it can also mean subcontractors with direct interaction with customers.

It can even refer to existing and past customers of the company. These customers represent the company through word of mouth.

People are a very important factor in the 7 P’s because services tend to be produced and consumed at the same time. Because of this, the behavior of these people is very important in determining the experience of the customer.

All service businesses should ensure that staff are well trained and motivated. But there is another way to adjust the people tactic. This can be done by adjusting customer experience to meet the needs of individual customers.

As an example, imagine a hotel guest tweets that they’re at your hotel preparing for an important meeting the next day. Then the next day while the guest is out, your staff place a handwritten note in their room wishing them every success in their meeting. Alongside this, staff place some complimentary chocolates in the guest’s room.

This tailoring of customer experience will tend to make the customer more satisfied in the short term. It also makes them more likely to become a long-term customer. Furthermore, they are more likely to tell their friends and colleagues about their great experience in your hotel.

6. Physical Evidence

As we’ve already defined, services are intangible. Despite this, their delivery often involves tangible elements. Physical evidence is defined as both:

The environment or place where the service is delivered.
Any tangible elements that facilitate the service or provide information about the service.

Based on this definition, physical evidence includes such things as:

The company’s website
Annual accounts
Business cards
Logos and brochures

As an example, consider a potential customer who wishes to visit a hotel for the first time. The physical evidence might include pictures of the hotel, past customer reviews, and the hotel’s proximity to the center of town.

Process refers to the procedures, mechanisms, and flow of activities that occur when the customer and the business interact with each other.

When, for example, a customer books a hotel room a process is triggered. When the customer then checks into the hotel another process is triggered, and when they check-out yet another process is triggered.

All of these processes need to be tightly controlled to ensure consistent customer experience. They are usually defined in written Standard Operating Procedure documents (SOPs).

7 P’s and 7 C’s

One criticism of the 7 P’s is that they force you to think in an internally focused manner rather than a customer focussed manner.

Because of this, it can be useful to use the 7 C’s rather than the 7 P’s, which reimagine the 7 P’s in a customer-focused manner, as follows:

Product = Customer
Price = Cost
Place = Convenience
Promotion = Communication
People = Caring
Process = Coordination
Physical Evidence = Confirmation

Services Marketing Mix Sweet Spot

When using the Services Marketing Mix, what we’re trying to do is get the right balance of each tactic so that the service is a success in the marketplace.

We can think of the sweet spot as being the point when all seven tactics are in balance. If you adjust one factor/tactic then you may have to adjust the others to maintain balance.

For example, if we decided to change from a budget airline to a luxury one, we’d obviously change the price, but we’d also need to change all the other tactics too. We’d probably need more People to offer a more personal experience and we’d need to change Process so each customer is given more care and attention.

Services Marketing Mix Example

Let’s use the example of a luxury hotel to see the Services Marketing Mix in action.

The core product of the hotel is its rooms which customers stay in for a period of time. Of course, there is more to a luxury hotel than just it’s rooms, there are also its restaurants, free wifi, and the spa. You can learn more about defining products and services in our article about the Five Product Levels .

In the case of our luxury hotel, the price will vary according to room size. So, as you might expect a large suite with a cityscape view costs significantly more than a small room with no view. This is because the value perceived by the customer is much greater.

For our hotel, place concerns how the service is consumed. Typically, a place will be chosen for a strategic reason e.g. close to a city, business center, or tourist attraction. Obviously, the location of the hotel is in one fixed place. However, Place could also mean that a mobile app is used to give customers easy access to concierge services wherever they happen to be.

For our luxury hotel promotion could include advertising on travel websites related to the location of the hotel. It could also mean directly advertising to past customers, using social media, and press releases.

The people who interact with guests would include managers, receptionists, concierge staff, cleaners, spa staff, waiters etc.

The key processes for our luxury hotel include the things that happen when a guests book a room, check-in, stay in the hotel, and check-out. Each of these will have a unique and formal process associated with them designed to delight the consumer.

7. Physical Evidence

For our luxury hotel, the physical evidence includes the customer service received before and after the stay, how the lobby looks, any music playing, the hotel’s website, and online reviews and photos, amongst other things.

In a nutshell, the Services Marketing Mix provides seven tactics that can be adjusted to help you attract and keep customers to any services business. When using the tool the aim is to find the right balance between all seven tactics so your service is a success in the marketplace (the sweet spot).

Cite this article

Minute Tools Content Team, Services Marketing Mix: The 7 P’s of Marketing, Minute Tools, Mar, 2018 https://expertprogrammanagement.com/2018/03/services-marketing-mix-7-ps/

Originally hailing from Dublin, Denis has always been interested in all things business and started EPM in 2009. Before EPM, Denis held a leadership position at Nokia, owned a sports statistics business, and was a member of the PMI's (Project Management Institute’s) Global Executive Council for two years. Denis now spends his days helping others understand complex business topics.

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Marketing Mix

Marketing Mix & The 7 P’s Of Marketing

The classic marketing mix, as established by Professor of Marketing at Harvard University, Prof. James Culliton in 1948 and expanded upon by Jerome McCarthy, incorporates Product, Price, Placement, and Promotion into a theory of marketing that has been important to the industry for more than 70 years. Since then, the theory has been expanded into the 7 P's of marketing. Which are: Product, Price, Promotion, Place, People, Packaging, and Process.

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Today, we refer to these interchangeably as the 7 P's or as the Marketing Mix. Here, we will discuss this concept, its components, and answer some common questions about the marketing mix and its applications.

What is a marketing mix?

Marketing mix is a selection of marketing tools that include several areas of focus that can be combined to create a comprehensive plan. The term refers to a classification that began as the 4 P’s: product, price, placement, and promotion, and has been expanded to Product, Price, Promotion, Place, People, Packaging, and Process.

What are the 7 Ps of Marketing?

The 4 P’s marketing mix concept (later known as the 7 P’s of marketing) was introduced by Jerome McCarthy in his book: "Basic Marketing: A Managerial Approach". It refers to the thoughtfully designed blend of strategies and practices a company uses to drive business and successful product promotion. Initially 4, these elements were Product, Price, Place and Promotion, which were later expanded by including People, Packaging and Process. These are now considered to be the “7 P’s” mix elements.

It can be difficult for a small business owner or marketing manager to know how to establish a unique selling proposition or to reach the right customers, especially on new platforms like the internet, with digital marketing.

Fortunately, the 7 Ps of marketing give you a framework to use in your marketing planning and essential strategy to effectively promote to your target market.

You can also take into consideration elements of the mix in your day to day marketing decision making process with the goal to attract the right audience to successfully market to through your marketing campaigns.

The 7 elements of the marketing mix include the following:

1. Product (or Service)

Your customer only cares about one thing: what your product or service can do for them. Because of this, prioritize making your product the best it can be and optimize your product lines accordingly. This approach is called “product-led marketing.” In a marketing mix, product considerations involve every aspect of what you're trying to sell. This includes:

Market positioning

There are five components to successful product-led marketing that are important for product marketers to take into consideration:

Get out of the way. Let your product or service sell itself . Focus your marketing efforts on getting consumers to try what you have to offer so they can learn its value for themselves.
Be an expert (on your customers). Know your customer's needs and use that knowledge to help communicate your product's value.
Always be helping. Position yourself as an ally by creating informative content that meets your target customers’ needs, and they'll be more likely to buy from you. (This is also called content marketing .)
Share authentic stories. Encourage happy customers to share their experiences and tell others why they appreciate your brand.
Grow a product mindset. Focus on your product before you consider how to sell it. Invest in development, and the product quality will take care of the rest.

Many factors go into a pricing model. Brands may:

Price a product higher than competitors to create the impression of a higher-quality offering.
Price a product similar to competitors, then draw attention to features or benefits other brands lack.
Price a product lower than competitors to break into a crowded market or attract value-conscious consumers.
Plan to raise the price after the brand is established or lower it to highlight the value of an updated model.
Set the base price higher to make bundling or promotions more appealing.

Consider what you're trying to achieve with your pricing strategy and how price will work with the rest of your marketing strategy. Some questions to ask yourself when selling products:

Will you be offering higher-end versions at an additional cost?
Do you need to cover costs right away, or can you set a lower price and consider it an investment in growth?
Will you offer sales promotions?
How low can you go without people questioning your quality?
How high can you go before customers think you’re overpriced?
Are you perceived as a value brand or a premium brand?

3. Promotion

Promotion is the part of the marketing mix that the public notices most. It includes television and print advertising, content marketing, coupons or scheduled discounts, social media strategies , email marketing , display ads, digital strategies , marketing communication, search engine marketing, public relations and more.

All these promotional channels tie the whole marketing mix together into an omnichannel strategy that creates a unified experience for the customer base. For example:

A customer sees an in-store promotion and uses their phone to check prices and read reviews.
They view the brand's website , which focuses on a unique feature of the product.
The brand has solicited reviews addressing that feature. Those reviews appear on high-ranking review sites.
The customer buys the product and you’ve sent a thank you email using marketing automation .

Here are the ways you can use these channels together:

Make sure you know all the channels available and make the most of them to reach your target audience.
Embrace the move toward personalized marketing .
Segment your promotional efforts based on your customers' behavior.
Test responses to different promotions and adjust your marketing spend accordingly.
Remember that promotion isn't a one-way street. Customers expect you to pay attention to their interests and offer them solutions when they need them.

Where will you sell your product? The same market research that informed your product and price decisions will inform your placement as well, which goes beyond physical locations. Here are some considerations when it comes to place:

Where will people be looking for your product?
Will they need to hold it in their hands?
Will you get more sales by marketing directly to customers from your own e-commerce website, or will buyers be looking for you on third-party marketplaces?
Do you want to converse directly with your customers as they purchase, or do you want a third party to solve customer service issues?

People refers to anyone who comes in contact with your customer, even indirectly, so make sure you're recruiting the best talent at all levels—not just in customer service and sales force.

Here’s what you can do to ensure your people are making the right impact on your customers:

Develop your marketers’ skills so they can carry out your marketing mix strategy
Think about company culture and brand personality .
Hire professionals to design and develop your products or services.
Focus on customer relationship management, or CRM , which creates genuine connections and inspires loyalty on a personal level.

6. Packaging

A company's packaging catches the attention of new buyers in a crowded marketplace and reinforces value to returning customers . Here are some ways to make your packaging work harder for you:

Design for differentiation. A good design helps people recognize your brand at a glance, and can also highlight particular features of your product. For example, if you’re a shampoo company, you can use different colors on the packaging to label different hair types.
Provide valuable information. Your packaging is the perfect place for product education or brand reinforcement. Include clear instructions, or an unexpected element to surprise and delight your customers.
Add more value. Exceed expectations for your customers and give them well-designed, branded extras they can use, like a free toothbrush from their dentist, a free estimate from a roofer, or a free styling guide from their hairdresser.

Prioritize processes that overlap with the customer experience. The more specific and seamless your processes are, the more smoothly your staff can carry them out. If your staff isn't focused on navigating procedures, they have more attention available for customers—translating directly to personal and exceptional customer experiences.

Some processes to consider:

Are the logistics in your main distribution channel cost-efficient?
How are your scheduling and delivery logistics?
Will your third-party retailers run out of product at critical times?
Do you have enough staff to cover busy times?
Do items ship reliably from your website?

If you get more than one customer complaint about any process, pinpoint what's going wrong and figure out how to fix it.

Marketing mix FAQs

Understanding marketing mix and the 7 P’s can bring up a lot of questions. Below, we’ve answered some frequently asked questions to help you identify and establish your own marketing mix.

What is a marketing mix example?

A good example of the marketing mix might be a convenience store. In this instance, we might consider a chain of convenience outlets that provide a wide range of products including fresh and packaged food, tools, household, and kitchen items, novelties, magazines, etc.

Product : Chiefly, foods and various items located and packaged in a way that provides convenience and utility.
Price : Pricing will be considered competitive with supermarkets, with some exceptions where convenience, novelty, and fun add special appeal.
Place : Locations should be amenable to the value proposition of convenience. As such, locations should be strategically positioned near residential areas, shopping centers, educational centers, etc.
Promotion : Advertising will be largely constrained to posted promotional material, the outlet buildings themselves, local social media pages, and so on.

Here, we will consider the customer experience as the opportunity to access simple food items, snacks, and a range of useful products for home, recreation, and more.

Another example might be a streaming service. Here our 4 P's are as follows:

Product : Original quality entertainment and convenient viewing access.
Price : Free trial offer, premium packages, and a commercial free subscription level.
Place : The subscriber's digital device.
Promotion : Extended advertising across a range of channels and platforms, including high-value metropolitan billboards, magazines, and word of mouth.

Here, the customer experience is appealing, long-form video content primarily in the form of popular TV, films, comedy specials, and more with an emphasis on convenient home viewing.

What are the types of marketing mix?

In reality, there are as many types of marketing mixes as there are functioning businesses in the world. To make things simpler, we might try to make our model fit within one of 7 common, established marketing mix types as listed below.

Product Mix
Product Progression and Product Life Cycle
Market Coverage Mix (aka Positioning Mix)
Service Mix
Marketing Program Mix (or Promotional Mix)
Channel Mix/Vertical Integration
Global Marketing Mix (or International Marketing Mix)

As you can see, making a given company's value proposition and promotional needs fit into one of these categories might not work well. Our convenient store example might fit into the service mix since convenience is the primary value we would be offering. But our streaming service might also be called a "service mix,” or even a "product mix."

In most cases, it is best to generate an original marketing mix that describes the marketing needs of a real life organization.

What are the 4 P’s of marketing mix?

The 4 P's are Product, Price, Place, and Promotion.

Product : The product is an item or service for sale. For marketing purposes, we should consider who it is for and why they would want it. We should also consider and compare our offering to that of the competition.
Price : This is the amount customers will be willing or required to pay. Often, making prices competitive is a significant challenge. In cases where prices cannot be lowered below the market benchmark, additional value may need to be added to the offer.
Place : This is the location/s where the product or service can be accessed and where it is used. For a restaurant, location is everything. For a streaming service, it is the user's home or the location where they buy computer devices and services.
Promotion : This describes how, where, and how frequently advertising materials will be produced and where they appear. With our convenience store, the promotional material is largely on and in the store itself. With our streaming service, it would be in locations all over the web and any other appropriate location/media.

The takeaway

The marketing mix and the 7 P's of marketing are a guide to drafting and creating an outreach campaign for any given commercial enterprise. They are guidelines that help us cover all of our bases when it comes to brand outreach. It should be borne in mind that branding considerations are not covered in the concepts covered by these promotional frameworks.

The elements of these guidelines work together to create a functional framework for the creation of a complete marketing plan.

Develop your marketing mix and integrate it into your marketing essentials. As you develop your marketing mix, consider how each element affects the rest to create a unified brand experience for your consumers, from the user experience to the perceived value of your product. Think about how a product's price changes its promotion strategy, how specifications will contribute to pricing, and how your people carry out processes. Ensure that your people and the tools they use can communicate with each other, and use the right tools to reach the right people.

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How to Develop a Successful Marketing Mix Strategy [+ Templates]

Updated: July 28, 2021

Published: July 02, 2020

One of the first things you're taught in your Introduction to Marketing class is that marketing can be best explained using the marketing mix – also known as the four Ps.

team brainstorming a marketing mix strategy

They are – and say 'em with me because if you took that class, you know these four words by heart:

However, once you're in your first marketing internship or job, you learn that marketing entails so much more than can be simplified in a four-section marketing mix matrix.

Still, there's an undeniable benefit of marketing teams organizing their work into the marketing mix framework.

When you stray too far away from the four P's, it can be easy to lose focus on your purpose as a marketer.

Marketing truly is about teams and individuals working together to promote a product in the right place at the right price point. Efforts beyond this scope are essential, but they do all stem off of this foundation of the marketing mix.

Here, we're going to dive into what a marketing mix is and how to develop a successful marketing mix strategy for your own company.

What is a marketing mix?

The marketing mix refers to the actions a company takes to market its product(s) and/or service(s). Typically, it acts as a framework for breaking down the four key components of marketing — product, price, place, and promotion.

The marketing mix helps companies organize their marketing initiatives by task and department for more process-driven and impactful marketing campaigns.

This framework has roots dating back to the 1940s and has been evolving ever since. While some elements have been added or tweaked over the years – most notably for the modern digital age – the core elements of the marketing mix (i.e. the four P's) have remained consistent for decades.

Featured Resource: Marketing Mix Templates

Need a way to visualize your marketing mix to share it with your employees or investors? Use these four marketing mix templates to organize your initiatives and activities by the right section. Click here to download them now .

Marketing Mix Elements

When perfected and synchronized, the core elements of a marketing mix provide a well-rounded approach to marketing strategy.

Product refers to what your business is selling – product(s), service(s), or both. The bulk of the work in this element is typically done by product marketers or managers.

Nailing the product element of the marketing mix means doing extensive research and development, understanding the need for the product, developing a product launch plan and timeline, and educating customers and employees – especially salespeople – on the product's purpose.

Price refers to the price point at which you'll sell your product(s)/service(s) to consumers. Arriving on this dollar amount requires consideration of multiple pricing strategies, analysis of similarly priced products in your market, and insights from consumers through surveys and focus groups.

Price speaks to positioning in the market, the speed at which you want to penetrate your market, and your company's revenue goals and profit margin.

In the marketing mix, place refers to where your product or service will be sold. For tangible products, this will include physical locations such as your own store, or a retailer where your product will be resold.

It can also include the other methods where your products can be purchased, like online or over the phone.

4. Promotion

Promotional activities are those that make your target market aware and excited about what you're selling.

While this does include paid initiatives like commercials and advertising, promotion also entails organic initiatives like word-of-mouth marketing, content marketing, and public relations.

Other Elements

While the marketing mix can often be simplified down to the 4 P's, the expansion of the scope of marketing in recent years has resulted in more P's added to the list.

For example, Smart Insights includes the following elements in its marketing mix definition:

Process , or the large internal initiatives taken to support a product launch, such as including salespeople in goal setting.
People , which can refer to your buyer, market, and target audience, or your internal team responsible for a launch.
Partners , or who you'll be working with outside of your company, such as distributors or co-marketing partners.

Some of the other P's can include:

Payment , or how transactions will be held and processed.
Physical evidence, or anything tangible pertaining to your product or service, like any materials needed to complete your service or deliver your product.
Packaging , or anything pertaining to the physicality of your product, like how it looks or how it's packaged.

These other marketing mix elements should be utilized as you see fit for your projects. However, every good marketing mix should rely on a thorough exploration of those first 4 Ps.

Marketing Mix Templates

Fill out the form to get your templates, marketing mix examples from real businesses.

Fintech companies are everywhere, but how many of them focus on organic and non-GMO agriculture?

As sustainable agriculture becomes more top of mind, brands like Mercaris help support agriculture companies looking to stay ahead in the market. Beyond delivering a service, the company identified a niche and launched a business with few direct competitors.

They offer a monthly subscription-based service that arms agricultural companies with the market intelligence needed to compete in the space. This includes detailed reports on food production, commodity prices, and market shifts.

Not long after Airbnb launched, users filed complaints of racism from their hosts and expressed reluctance to use the platform's services. The company implemented measures to appease these concerns. However, it brought attention to an important issue.

It's this uncertainty that allowed Noirbnb to enter the market. The brand tapped into people of color's desire to feel safe and welcomed in their temporary home while traveling – then, they used it as their unique selling position (USP).

The brand even plays on Airbnb's name – which is now a household one – to indicate that they offer a similar service that's been adapted to cater to travelers of color.

Warby Parker

This online retailer of prescription eyeglasses and sunglasses is known for its stylish yet affordable glasses. Warby Parker 's pricing, which starts at $95, undercuts many of its competitors, making it a popular go-to for consumers.

The brand's pricing strategy is based on public perception. In interviews, the founders revealed that originally, they were going to price their frames as low as $45. However, after considering how low prices for items like glasses can be perceived as low quality, they doubled the price to settle at a number that was still competitive.

A brand's pricing strategy can have an important role in how it's perceived in the market. So, it's important to consider what that perception is and if it's the one you want to put out there.

When Canva entered the market, it was every small business owner's dream. You could design any marketing material you wanted for FREE, what more could you ask for?

Eventually, the brand introduced premium versions of its platform. Catering to businesses ranging from small to enterprise-level, they added features like high-quality stock visuals, social media publishing tools, marketing campaign management, and large cloud storage.

Hu , short for "Get Back to Human," is a dessert company that specializes in making organic, paleo chocolate bars free of the junk ingredients we find in big-name products.

The brand has made its products available from multiple major retailers, including Walmart, Target, and Whole Foods. They also have a virtual storefront on Amazon. If stock ever runs out there, you can always purchase their products through their website.

Hu has made its product accessible through multiple channels, maximizing its earning potential while expanding its brand awareness.

The Lip Bar

Vegan beauty brand The Lip Bar leverages influencers and celebrities to promote its products and increase its brand awareness. Recently, the brand partnered with beauty influencer Raye Boyce to announce its expansion into Walmart stores and its nine latest products.

The Lip Bar places women of color at the center of its products and collaborating with a Black influencer known for her love of lipsticks is in perfect alignment with the brand's identity.

Beyond a robust social media presence, the company also has a blog on its website with content that appeals to audiences across the buyer's journey.

Avant-Garde Vegan

Some brands launch a product then promote, while others promote then launch.

Avant-Garde Vegan , an online brand created by UK-based chef Gaz Oakley, grew his business on social media – namely YouTube. Oakley gained popularity posting recipes for healthy, vegan dishes and soon became a go-to resource for new and established vegan consumers.

Eventually, Oakley released his first product, a cookbook. Now the brand sells both cookbooks as well as merchandise.

The reason why this strategy works particularly well is that it focuses on adding value instead of selling. Oakley gained his audience's trust and loyalty through consistent and quality posts on social media.

Once he introduced a product, many of his followers were ready to make a purchase. It's a long-term strategy that can have a big payoff if executed well.

How to Develop a Marketing Mix Strategy

Because the marketing mix incorporates elements from across your department – and even your company – it's imperative to establish a marketing mix strategy for each product you launch, or for your company as a whole. For a fully fleshed-out marketing mix, follow these steps.

1. Engage in market research and product development.

The success of your marketing work is first and foremost contingent on your product. Make sure it's well developed and your team can speak to its benefits and the story behind it.

Best practices in this step include:

Engaging in market research to understand your buyers' needs.
Speaking to your current customers to uncover their pain points and see which needs to address in your current product or service line.
Monitoring industry trends to identify a potential demand in your market.
Examining the competition.
Collaborating with your product team during product development to ensure it meets your buyer personas' needs.
Having your product tested by current customers to see how they're using the product or service and if it's actually solving for their problems.

Taking these actions ensures you're making every effort to understand and solve for your customer, providing a solid foundation for your product to launch successfully.

Featured Tool: Market Research Kit . To make your R&D more impactful, use these free market research templates so you can better understand your customers and competitors.

2. Determine your pricing model.

A lot goes into choosing a price point – so much so that we wrote an entire guide to pricing strategies .

Luckily, you'll be able to refer to much of the work done in the previous section. Thanks to your understanding of your market through research, you'll have answered most of the necessary questions in this section. You'll also need to take your costs into account so you can maximize unit sales and profit.

During this stage, make sure you do the following.

Speak to customers (or refer to previously completed market research) to determine the ideal selling price.
Work with the product team to ensure the product can be developed in a cost-effective manner that would ensure profitability at your target price point.
Meet with financial experts to determine aggressive yet realistic sales forecasts to contribute to the company's bottom line.
Collaborate with your sales team to determine discounting strategies.
Determine how you'll adjust price and revenue forecasts when selling through resellers.

Lastly, don't forget to factor in the perceived value by the customer. Even if your product or service doesn't cost a significant amount to make, you'll be able to mark up your product more if you face little competition and provide an irreplaceable benefit to your customers.

Featured Tool: Pricing Strategy Calculator . If you need help selecting your pricing model, use this template to compare different pricing strategies and see which will yield your company the most profit and revenue based on your forecasts.

3. Choose your distribution channels.

The "place" part of the marketing mix answers where your product will be sold. Keep in mind, this can be any combination of your store, a distributor's store, or online. You'll want to address the following points before moving onto the promotion stage:

Determine if your product will fare best in your physical location, a store of another retailer, on your website, on another company's website, or some combination of these locations.
Think about geographic location – make sure your supply meets regional demand, and plan for whether or not what you're selling will be available in a certain city, a state, the country, or worldwide.
Come to an agreement with retailers and resellers on margins, markups, and manufacturer suggested retail prices (MSRP).
Figure out how many salespeople will be needed to ensure you meet your goals.
Set goals for retail, third-party sellers, since you may be sharing shelf space or search results with a competitor or two.

4. Select your promotion tactics.

Finally, it's time to promote your product. While this is probably the element most associated with marketing, it's crucial that this element be completed last, because you need the foundation of product, price, and place before determining promotion tactics.

Think about it – shouldn't you know what you're promoting, why you're promoting it, and where it's available before actually promoting it? It's tempting to jump right to this step, but your promotion will be much better off if it's done after everything else in the marketing mix.

Once you do have that understanding, consider the following promotional channels and choose the one(s) that makes the most sense for your product, its buyers, and its price point:

Content marketing efforts, such as blogging, content creation, and building a website.
Public relations and working with affiliates and/or influencers.
Social media marketing – both organic and paid – on channels such as LinkedIn, Facebook, and Instagram.
Search engine ads on sites like Google and Bing.
Ads to air on video streaming sites like YouTube, or on TV.
Event marketing, including attending industry events or hosting your own event.
Customer marketing and utilizing referrals.
And more – There are countless promotional ideas you can use to spread the word on your product, service, or business.

Featured Tool: Marketing Plan Template . If your promotional tactics are multi-faceted enough, consider documenting your plans in this customizable template.

Every company's marketing mix is different, placing emphasis on certain factors over others.

Some businesses use their marketing mix for a single product, while others adopt a company-wide marketing mix. However, good marketing mixes should tie in all the elements without neglecting one.

All elements of the marketing mix are important, so don't be quick to overlook any of them, and find ways for different elements of the mix to overlap and share goals.

With so many activities happening to support a single initiative, it's helpful to organize everything in a single template for easy reference. Here are a few examples of marketing mix templates your marketing department can use, in addition to when they might make sense to reference.

1. Simple Marketing Mix Template

Download this Template

This template is a great starter for organizing a marketing mix. It's ideal for one product and for the marketing mix's maker to get an understanding of all the elements involved in the marketing of a product.

2. Company Marketing Mix Template

For a marketing mix that applies company-wide, this template is a perfect fit. You can outline the initiatives that apply to most or all of the products and/or services in your suite.

3. Structured Marketing Mix Template

structured product marketing mix template

For when you need to get right to the point with a more organized, actionable visualization, use this structured, bulleted template for quick reference and clarification.

4. Production Marketing Mix Template

Finally, a production marketing mix template is best utilized for internal reference. This template answers questions on the go-to-market efforts for products and services that you're selling.

Mix It All Together

Whether you're a student just learning to understand everything that marketing entails or a CMO hoping to clearly convey the work that your team is doing to your fellow employees, the marketing mix framework is an essential tool to help you get the job done.

Don't forget – if you need to organize your marketing initiatives into a central location, try using HubSpot's Marketing Mix Templates to document your activities in one place.

Don't forget to share this post!

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Marketing Mix

What Is Marketing Mix - 4 P and and 7 P of Marketing

Definition of marketing mix.

The marketing mix is defined by the use of a marketing tool that combines a number of components in order to become harden and solidify a product’s brand and to help in selling the product or service. Product based companies have to come up with strategies to sell their products, and coming up with a marketing mix is one of them.

Table of Content

Marketing Mix 4P
7Ps of Marketing
Marketing Mix Example

Marketing Mix Product

Importance of marketing mix, questions on marketing mix, what is marketing mix.

Marketing Mix is a set of marketing tool or tactics, used to promote a product or services in the market and sell it. It is about positioning a product and deciding it to sell in the right place, at the right price and right time. The product will then be sold, according to marketing and promotional strategy. The components of the marketing mix consist of 4Ps Product, Price, Place, and Promotion. In the business sector, the marketing managers plan a marketing strategy taking into consideration all the 4Ps. However, nowadays, the marketing mix increasingly includes several other Ps for vital development.

What is 4 P of Marketing

A product is a commodity, produced or built to satisfy the need of an individual or a group. The product can be intangible or tangible as it can be in the form of services or goods. It is important to do extensive research before developing a product as it has a fluctuating life cycle, from the growth phase to the maturity phase to the sales decline phase.

A product has a certain life cycle that includes the growth phase, the maturity phase, and the sales decline phase. It is important for marketers to reinvent their products to stimulate more demand once it reaches the sales decline phase. It should create an impact in the mind of the customers, which is exclusive and different from the competitor’s product. There is an old saying stating for marketers, “what can I do to offer a better product to this group of people than my competitors”. This strategy also helps the company to build brand value.

Price in Marketing Mix:

Price is a very important component of the marketing mix definition. The price of the product is basically the amount that a customer pays for to enjoy it. Price is the most critical element of a marketing plan because it dictates a company’s survival and profit. Adjusting the price of the product, even a little bit has a big impact on the entire marketing strategy as well as greatly affecting the sales and demand of the product in the market. Things to keep on mind while determining the cost of the product are, the competitor’s price, list price, customer location, discount, terms of sale, etc.,

Place in Marketing Mix:

Placement or distribution is a very important part of the marketing mix strategy. We should position and distribute our product in a place that is easily accessible to potential buyers/customers.

Promotion in Marketing Mix:

It is a marketing communication process that helps the company to publicize the product and its features to the public. It is the most expensive and essential components of the marketing mix, that helps to grab the attention of the customers and influence them to buy the product. Most of the marketers use promotion tactics to promote their product and reach out to the public or the target audience. The promotion might include direct marketing, advertising, personal branding, sales promotion, etc.

What is 7 P of Marketing:

The 7Ps model is a marketing model that modifies the 4Ps model. As Marketing mix 4P is becoming an old trend, and nowadays, marketing business needs deep understanding of the rise in new technology and concept. So, 3 more new P’s were added in the old 4Ps model to give a deep understanding of the concept of the marketing mix.

People in Marketing Mix:

The company’s employees are important in marketing because they are the ones who deliver the service to clients. It is important to hire and train the right people to deliver superior service to the clients, whether they run a support desk, customer service, copywriters, programmers…etc. It is very important to find people who genuinely believe in the products or services that the particular business creates, as there is a huge chance of giving their best performance. Adding to it, the organisation should accept the honest feedback from the employees about the business and should input their own thoughts and passions which can scale and grow the business.

Process in Marketing Mix:

We should always make sure that the business process is well structured and verified regularly to avoid mistakes and minimize costs. To maximise the profit, Its important to tighten up the enhancement process.

Physical Evidence in Marketing Mix:

In the service industries, there should be physical evidence that the service was delivered. A concept of this is branding. For example, when you think of “fast food”, you think of KFC. When you think of sports, the names Nike and Adidas come to mind.

Marketing Mix Example:

This article will go through a marketing mix example of a popular cereals company. At first, the company targeted older individuals who need to keep their diet under control, this product was introduced. However, after intense research, they later discovered that even young people need to have a healthy diet. So, this led to the development of a cereals product catered to young people. In accordance with all the elements of the marketing mix strategy, the company identified the product, priced it correctly, did tremendous promotions and availed it to the customers. This marketing mix example belongs to Honeycomb, one of the most renowned companies in the cereal niche. Following these rules clearly has managed to make the company untouchable by all the other competitors in the market. This makes Honeycomb, the giant we know and love today to eat as morning breakfast!

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Marketing Mix and the 7Ps

Marketing Mix and the 7Ps - Assignment Example

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Marketing Mix: Definition, 7Ps (Extended Mix)

Marketing mix.

In the business world, there are numerous devices that are used to fulfill particular assignments, and this holds true in the matter of marketing a product or service. A standout amongst the most well known of these promoting tools is the marketing mix. The marketing mix is a blend of seven components, or sorts of decisions, that an organization manages, keeping in mind the end goal to appropriately and proficiently market their products and services. What started as four Ps has developed into seven.

How the marketing mix developed:

Since the first four-pronged methodology to marketing just indulged simply the promoting of an item, a need was developed for the marketing mix to incorporate how a service would be advertised. Thus the three new Ps are people, physical evidence, and process, thereby completing the augmented marketing mix.

The 7 Ps of the Marketing Mix:

Product: The first P manages the genuine product being sold to the customer, whether it is a physical item, or an intangible service. Additionally included in this P are such critical ideas as the product’s look, name, packing, etc.
Price : The second P covers any issues related to pricing that is identified with the item. Above all else, overall revenue, and in addition the estimating of the opposition, manages what the cost of the product will be.
Promotion: Here, the expense can soar in correlation to the genuine generation costs, so extraordinary consideration must be taken when choosing how to convey, communicate and offer the products to consumers.
Place: The last P of the unique marketing mix, place, manages inquiries of distribution channel, and getting the product to the purchaser. Value-based, practical, and logistical issues are investigated here, and choices made right now incorporate what stores to discover the item in, and whether a sales force is required, in addition to everything else.
People: The first P of the expanded marketing mix is concerned with the individuals that are working for the organization. It is imperative to enroll and train the right individuals, on the grounds that this is who the customers will be dealing with.
Physical Evidence/Layout: How an item is introduced to the client, including its surroundings is vital. Particularly vital to block and mortar stores that offer an item, they must be inviting, simple to explore, and if the item being sold is on the pricy side, fancier than different spots.
Process: The last P methodology manages customer service, and an organization’s capacity to offer service, handle protests, and anticipate any issues before they really happen.

The seven Ps of the broadened marketing mix manage about any issue that could pop up when offering a product or service to buyers. Next time you go to any shop to purchase an item then stop to ponder constantly of the time, exertion, and money that went into each of those products, from innovation to sitting on the rack with a cost tag.

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For the first time Rosatom Fuel Division supplied fresh nuclear fuel to the world’s only floating nuclear cogeneration plant in the Arctic

The fuel was supplied to the northernmost town of Russia along the Northern Sea Route.

The first in the history of the power plant refueling, that is, the replacement of spent nuclear fuel with fresh one, is planned to begin before 2024. The manufacturer of nuclear fuel for all Russian nuclear icebreakers, as well as the Akademik Lomonosov FNPP, is Machinery Manufacturing Plant, Joint-Stock Company (MSZ JSC), a company of Rosatom Fuel Company TVEL that is based in Elektrostal, Moscow Region.

The FNPP includes two KLT-40S reactors of the icebreaking type. Unlike convenient ground-based large reactors (that require partial replacement of fuel rods once every 12-18 months), in the case of these reactors, the refueling takes place once every few years and includes unloading of the entire reactor core and loading of fresh fuel into the reactor.

The cores of KLT-40 reactors of the Akademik Lomonosov floating power unit have a number of advantages compared to the reference ones: a cassette core was used for the first time in the history of the unit, which made it possible to increase the fuel energy resource to 3-3.5 years between refuelings, and also reduce the fuel component of the electricity cost by one and a half times. The FNPP operating experience formed the basis for the designs of reactors for nuclear icebreakers of the newest series 22220. Three such icebreakers have been launched by now.

For the first time the power units of the Akademik Lomonosov floating nuclear power plant were connected to the grid in December 2019, and put into commercial operation in May 2020. The supply of nuclear fuel from Elektrostal to Pevek and its loading into the second reactor is planned for 2024. The total power of the Akademik Lomonosov FNPP, supplied to the coastal grid of Pevek without thermal energy consumption on shore, is about 76 MW, being about 44 MW in the maximum thermal power supply mode. The FNPP generated 194 million kWh according to the results of 2023. The population of Pevek is just a little more than 4 thousand, while the FNPP has a potential for supplying electricity to a city with a population of up to 100 thousand people. After the FNPP commissioning two goals were achieved. These include first of all the replacement of the retiring capacities of the Bilibino NPP, which has been operating since 1974, as well as the Chaunskaya TPP, which has already been operating for more than 70 years. Secondly, energy is supplied to the main mining companies in western Chukotka in the Chaun-Bilibino energy hub a large ore and metal cluster, including gold mining companies and projects related to the development of the Baimsk ore zone. In September 2023, a 110 kilovolt power transmission line with a length of 490 kilometers was put into operation, connecting the towns of Pevek and Bilibino. The line increased the reliability of energy supply from the FNPP to both Bilibino consumers and mining companies, the largest of which is the Baimsky GOK. The comprehensive development of the Russian Arctic is a national strategic priority. To increase the NSR traffic is of paramount importance for accomplishment of the tasks set in the field of cargo shipping. This logistics corridor is being developed due regular freight voyages, construction of new nuclear-powered icebreakers and modernization of the relevant infrastructure. Rosatom companies are actively involved in this work. Rosatom Fuel Company TVEL (Rosatom Fuel Division) includes companies fabricating nuclear fuel, converting and enriching uranium, manufacturing gas centrifuges, conducting researches and producing designs. As the only nuclear fuel supplier to Russian NPPs, TVEL supplies fuel for a total of 75 power reactors in 15 countries, for research reactors in nine countries, as well as for propulsion reactors of the Russian nuclear fleet. Every sixth power reactor in the world runs on TVEL fuel. Rosatom Fuel Division is the world’s largest producer of enriched uranium and the leader on the global stable isotope market. The Fuel Division is actively developing new businesses in chemistry, metallurgy, energy storage technologies, 3D printing, digital products, and decommissioning of nuclear facilities. TVEL also includes Rosatom integrators for additive technologies and electricity storage systems. Rosenergoatom, Joint-Stock Company is part of Rosatom Electric Power Division and one of the largest companies in the industry acting as an operator of nuclear power plants. It includes, as its branches, 11 operating NPPs, including the FNPP, the Scientific and Technical Center for Emergency Operations at NPPs, Design and Engineering as well as Technological companies. In total, 37 power units with a total installed capacity of over 29.5 GW are in operation at 11 nuclear power plants in Russia. Machinery Manufacturing Plant, Joint-Stock Company (MSZ JSC, Elektrostal) is one of the world’s largest manufacturers of fuel for nuclear power plants. The company produces fuel assemblies for VVER-440, VVER-1000, RBMK-1000, BN-600,800, VK-50, EGP-6; powders and fuel pellets intended for supply to foreign customers. It also produces nuclear fuel for research reactors. The plant belongs to the TVEL Fuel Company of Rosatom.

Rosatom obtained a license for the first land-based SMR in Russia

On April 21, Rosenergoatom obtained a license issued by Rostekhnadzor to construct the Yakutsk land-based SMR in the Ust-Yansky District of the Republic of Sakha (Yakutia).

ROSATOM and FEDC agree to cooperate in the construction of Russia's first onshore SNPP

ROSATOM and FEDC have signed a cooperation agreement to build Russia's first onshore SNPP in Yakutia.

Rosatom develops nuclear fuel for modernized floating power units

Rosatom has completed the development of nuclear fuel for the RITM-200S small modular reactor designed for the upgraded floating power units.

Victor Mukhin

Scientific Program

Title : Active carbons as nanoporous materials for solving of environmental problems

However, up to now, the main carriers of catalytic additives have been mineral sorbents: silica gels, alumogels. This is obviously due to the fact that they consist of pure homogeneous components SiO2 and Al2O3, respectively. It is generally known that impurities, especially the ash elements, are catalytic poisons that reduce the effectiveness of the catalyst. Therefore, carbon sorbents with 5-15% by weight of ash elements in their composition are not used in the above mentioned technologies. However, in such an important field as a gas-mask technique, carbon sorbents (active carbons) are carriers of catalytic additives, providing effective protection of a person against any types of potent poisonous substances (PPS). In ESPE “JSC "Neorganika" there has been developed the technology of unique ashless spherical carbon carrier-catalysts by the method of liquid forming of furfural copolymers with subsequent gas-vapor activation, brand PAC. Active carbons PAC have 100% qualitative characteristics of the three main properties of carbon sorbents: strength - 100%, the proportion of sorbing pores in the pore space – 100%, purity - 100% (ash content is close to zero). A particularly outstanding feature of active PAC carbons is their uniquely high mechanical compressive strength of 740 ± 40 MPa, which is 3-7 times larger than that of such materials as granite, quartzite, electric coal, and is comparable to the value for cast iron - 400-1000 MPa. This allows the PAC to operate under severe conditions in moving and fluidized beds. Obviously, it is time to actively develop catalysts based on PAC sorbents for oil refining, petrochemicals, gas processing and various technologies of organic synthesis.

Victor M. Mukhin was born in 1946 in the town of Orsk, Russia. In 1970 he graduated the Technological Institute in Leningrad. Victor M. Mukhin was directed to work to the scientific-industrial organization "Neorganika" (Elektrostal, Moscow region) where he is working during 47 years, at present as the head of the laboratory of carbon sorbents. Victor M. Mukhin defended a Ph. D. thesis and a doctoral thesis at the Mendeleev University of Chemical Technology of Russia (in 1979 and 1997 accordingly). Professor of Mendeleev University of Chemical Technology of Russia. Scientific interests: production, investigation and application of active carbons, technological and ecological carbon-adsorptive processes, environmental protection, production of ecologically clean food.

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COMMENTS

How to use the 7Ps Marketing Mix
An example of a company using the 7Ps marketing mix in their strategy. Take a look at HubSpot as an example, which was founded in 2006; Hubspot now boasts over 86,000 total customers in more than 120 countries. Comprised of Marketing Hub, Sales Hub, Service Hub, CMS Hub, and a powerful free CRM, HubSpot adds value for customers in every aspect ...
Marketing mix on 7ps
The marketing mix is probably the most famous phrase in marketing. The elements are the marketing 'tactics'. The marketing mix principles are controllable variables which have to be carefully managed and must meet the needs of the defined target group. All elements of the mix are linked and must support each other.The 7'p's are ...
7Ps of Marketing Mix: Explained well with examples
The 7Ps of Marketing is the Price, Place, Promotion, Product, People, Process and finally, Physical Evidence. It originally started as 4 Ps, but as the world, and the complexities of marketing grew; 3 more were added to formulate an effective marketing strategy. The 'P's stand for each of the pillars of a marketing strategy, and together ...
Decoding the 7 Ps of Marketing: A Step-by-Step Guide
These instruments are the 7Ps of Marketing: Product, Price, Place, Promotion, People, Process, and Physical evidence. Each 'P' holds a unique note in your marketing melody, and understanding how to orchestrate them can turn your business into a masterpiece. Product:What you're selling to satisfy a customer's need.
The 7Ps of The Marketing Mix
The marketing mix or 7Ps is a foundation model in marketing. it helps to define the tactics to make the marketing plan happen. A planned approach to marketing helps us to set clear objectives based on the current situation a company is facing. The strategy defines how those objectives will be achieved, including the target market to focus on ...
PDF Marketing Plan Lesson 2: The Marketing Mix
marketing mix (both the 4Ps and the 7Ps) and the various elements of each element of the marketing mix. The ﬁnal handout is a case study example. Handouts: 1. Pricing Strategy 2. Place and channels of distribution 3. Marketing Mix 4. Example The teacher reminds students to work with the information they gathered in the previous class,
Extended Marketing Mix (7P's)
AS, A-Level. Board: AQA, Edexcel, OCR, IB. Last updated 18 Feb 2018. Share : The extended marketing mix (7P's) is the combination of seven elements of marketing that aim to work together to achieve the objectives of a marketing strategy. These 7 elements are: product; price; place; promotion; people; process and physical.
The Marketing Mix: Building a Strategy With the 7Ps
The 7Ps marketing model is a framework designed to help businesses build a complete marketing strategy, from start to finish. In theory, a new business should be able to use the 7Ps model to devise an entire marketing strategy from scratch. Credit: TrueNorth. The name derives from the seven elements outlined in the 7Ps model, which all begin ...
The 7 Ps of Marketing Mix
The Seven Ps of Marketing is a relatively simple framework that can be used by any organisation or manager to plan marketing activities and a marketing strategy. It is useful because it ensures that you look across each area together, and consider how they might be related. The Seven Ps started as just four: product, price, place and promotion.
The Marketing Mix: Build a Complete Strategy With the 7Ps
The name derives from the seven elements outlined in the 7Ps model, which all begin with the letter "P": Product. Promotion. Price. Place. People. Process. Physical evidence. The 7Ps model is an evolution upon the 4Ps model originally founded by E. Jerome McCarthy in 1960, in his book Marketing: A Managerial Approach.
What Are the 7 Ps of Marketing? (Plus Helpful Examples)
The 7 Ps of marketing is a method encompassing seven distinct principles that professionals can use to create and employ strategies that attract and engage customers, motivate customer sales and increase revenue. The creator of the 7Ps of marketing is E. Jerome McCarthy in 1960. It comprises three additional marketing principles that build on ...
7Ps of Marketing Mix Template with Examples
7 Ps of Marketing Mix. Product. The product is what you are selling to customers. It could be a tangible product that a company sells or an intangible product like a service. The products and services are meant to meet the needs of customers. For example, people enjoy services in tourism industry; and in the banking sector, there are both ...
Services Marketing Mix: The 7 P's of Marketing
The Services Marketing Mix (or 7 P's of Marketing) is shown in the following diagram. As can be seen above, the Services Marketing Mix consists of the original Product Marketing Mix: Product. Price. Place. Promotion. But these four tactics were extended by three to create the Services Marketing Mix: People.
Marketing Mix & The 7 P's Of Marketing
Marketing mix is a selection of marketing tools that include several areas of focus that can be combined to create a comprehensive plan. The term refers to a classification that began as the 4 P's: product, price, placement, and promotion, and has been expanded to Product, Price, Promotion, Place, People, Packaging, and Process. ...
How to Develop a Successful Marketing Mix Strategy [+ Templates]
When perfected and synchronized, the core elements of a marketing mix provide a well-rounded approach to marketing strategy. 1. Product. Product refers to what your business is selling - product (s), service (s), or both. The bulk of the work in this element is typically done by product marketers or managers.
What Is Marketing Mix
Marketing Mix is a set of marketing tool or tactics, used to promote a product or services in the market and sell it. It is about positioning a product and deciding it to sell in the right place, at the right price and right time. The product will then be sold, according to marketing and promotional strategy. The components of the marketing mix ...
Marketing Mix and the 7Ps
Extract of sample "Marketing Mix and the 7Ps". Marketing Marketing Mix and the 7P's Marketing mix contains various variables and components that can be controlled by a business in making an enhanced performance in the market. As such, a business has to make a strategy that will ensure it is achieving its goals and objectives.
7Ps of Marketing
The traditional marketing mix comprised of the 4Ps of product, price, place and promotion has enjoyed tremendous popularity over the years. When it was first articulated by McCarthy in 1960, it consisted of 12 parameters that were to be mixed like ingredients by a marketer. Eventually brought down to the much smaller number of 4, the framework ...
Marketing Mix: Definition, 7Ps (Extended Mix)
The 7 Ps of the Marketing Mix: Product: The first P manages the genuine product being sold to the customer, whether it is a physical item, or an intangible service. Additionally included in this P are such critical ideas as the product's look, name, packing, etc. Price: The second P covers any issues related to pricing that is identified with ...
Victor Mukhin
Catalysis Conference is a networking event covering all topics in catalysis, chemistry, chemical engineering and technology during October 19-21, 2017 in Las Vegas, USA. Well noted as well attended meeting among all other annual catalysis conferences 2018, chemical engineering conferences 2018 and chemistry webinars.
Moscow Metro, George Bernard Shaw and PlayStation 3
Hard to believe that this open source application is now the Web's 3rd most popular source for news and information. Then again, maybe not. Stay tuned for news about social marketing and wikis. Technorati Tags: Editorial Policy, Wikipedia, wikis
For the first time Rosatom Fuel Division supplied fresh nuclear fuel to
21 April 2023 Rosatom obtained a license for the first land-based SMR in Russia. On April 21, Rosenergoatom obtained a license issued by Rostekhnadzor to construct the Yakutsk land-based SMR in the Ust-Yansky District of the Republic of Sakha (Yakutia).
Active carbons as nanoporous materials for solving of environmental
Catalysis Conference is a networking event covering all topics in catalysis, chemistry, chemical engineering and technology during October 19-21, 2017 in Las Vegas, USA. Well noted as well attended meeting among all other annual catalysis conferences 2018, chemical engineering conferences 2018 and chemistry webinars.

Marketing mix on 7ps

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7Ps of Marketing Mix: Explained well with examples

The 7Ps of Marketing: With Examples

The Product

The Promotion

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The 9Ps of Marketing you say?

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