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7ps of marketings
- 1. 7 P'S OF MARKETING D.HARINI, BBA, DON BOSCO COLLEGE, YELAGIRI.
- 2. MARKETING MIX Marketing mix” is a foundation model for businesses, historically centered around product, price, place, and promotion. The marketing mix has been defined as the “set of marketing tools that the firm uses to pursue its marketing objectives in the target market”.
- 4. PRODUCT It goes without saying that the service or product you’re selling should be at the centre of every element of the marketing mix. Fundamentally, it allows you to address the questions key to sales conversion: what problem or issue does the product solve for customers? Why is your product the best one to solve it?
- 5. PLACE • Where and how your product is displayed and sold should be directly informed by your customers. • A deep understanding of their purchasing patterns – and targeting them at the right stage in their buying cycle – will make it clear where you should promote and sell your products and how that fits into your online and real-world marketing mix.
- 6. PRICE • The strategy behind the pricing of your product needs to be based on what your customers are prepared to pay, costs such as retail mark-up and manufacturing, as well as other considerations.
- 7. PROMOTION • The promotional mix describes a blend of promotional variables chosen by marketers to help a firm reach its goals. • Successful marketing strategies include all the promotional activities across the marketing mix, including advertising, direct marketing, and in-store promotional activities.
- 8. PEOPLE • People refers to anyone directly or indirectly involved in the business side of the enterprise. • That means anyone involved in selling a product or service, designing it, marketing, managing teams, representing customers, recruiting and training.
- 9. PACKAGE • Packaging is important for marketing because it affects every other P in the marketing mix. • Present your products in the most attractive way possible.
- 10. PHYSICAL EVIDENCE • The physical evidence element of the marketing mix refers to the physical environment experienced by the customer. • This could mean the design and layout of a shop.