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The 7 Ps Of The Marketing Mix

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The 7 Ps Of The Marketing Mix

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No two products will be marketed in exactly the same way. The marketing mix is a term used to describe the unique cocktail of marketing channels deployed to market a particular product.

Looked at another way, the marketing mix can be characterised as a recipe book, offering a comprehensive range of complementary marketing tools, from which marketers can select and combine those that will best suit the product they are seeking to promote.

No two products will be marketed in exactly the same way. The marketing mix is a term used to describe the unique cocktail of marketing channels deployed to market a particular product.

Looked at another way, the marketing mix can be characterised as a recipe book, offering a comprehensive range of complementary marketing tools, from which marketers can select and combine those that will best suit the product they are seeking to promote.

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The 7 Ps Of The Marketing Mix

  1. 1. THE 7 PS OF THE MARKETING MIX
  2. 2. No two products will be marketed in exactly the same way. The marketing mix is a term used to describe the unique cocktail of marketing channels deployed to market a particular product. Find out The 7 Ps of the marketing mix...
  3. 3. PRODUCT The product is the primary – though not the only – component of the 7 Ps of the marketing mix. Marketing consultants will consider carefully which features of the product are most likely to appeal to its target market, as well as taking into account factors such as the life span of the product, and its potential for diversification and development.
  4. 4. PRICE The price that is set for a product not only determines the amount of profit the business will be able to make from it, but also affects the value of the product as perceived by the consumer. Many consumers will use the product's price as a means of judging its quality, and most will compare the price with that of similar products before deciding which to purchase.
  5. 5. PROMOTION This is an umbrella term, covering all the media by which a business informs customers about its product. Including advertising, public relations and sales promotion.
  6. 6. PLACE Products are not only sold in shops. They may also be sold door-to-door, online, or in trade fairs or markets.
  7. 7. PACKAGING This refers not just to the way in which a product is wrapped, but also to its overall presentation.   Finally, the way in which its physical arrangement is designed to attract the customer.
  8. 8. POSITIONING One of the most important of the 7 Ps of the marketing mix. Positioning refers to a product's status in relation to the wider market, particularly how it lines up against competitors.
  9. 9. PEOPLE Knowing the customer is the linchpin of a successful marketing strategy. Without accurate customer profiling, none of the other 7 Ps of marketing mix can be correctly channelled, and the product may well fail to sell.
  10. 10. CONCLUSION What underpins the 7 Ps of marketing mix is knowledge. The company that takes time to understand its product, its market, and most crucially its customers, is the company that will optimise its marketing mix, ensuring steady and sustainable growth.
  11. 11. DON'T FORGET TO FOLLOW US www.mbaco.com info@mbaco.com

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