marketing 7ps

Marketing 7ps

Marketing is an important process in the promotion or sales of products and services. It is necessary that you understand the mix and its importance before you can create effective strategies if you know what you are offering to the market. This article will help you understand the important aspects of marketing such as the four P's, which are Product, Price, Placement and Promotion.

Modern day marketing requires additional three P's because they are important in the total mix. They are necessary to complete the strategy of products and services.

To help you understands how the seven P's work together, read on below.

The basic Four P's of Marketing

Product
This is the most important thing in the mix, the physical product or the service that the entity is offering for sale to the public. You will need to market this to the customers by telling them the unique features and benefits the product has to offer.

Price
This is the price or amount that the customer needs to giveaway in exchange of the product or service you are offering. Marketing strategy will need to ensure that people will get the perceived value as greater than the price they will need to giveaway.

Place
Place or distribution, you will need to spell out where the product or service is available. This may either be online or offline, you will need to inform the public where the products may be available.

Promotion
You will need to promote the product or service whether online of offline. Online marketing makes it cheaper to conduct promotions and reach as many people as possible.

The next three P's

People

In order for any marketing activity to be effective, to will need to train and motivate the people to do their job. The people that delivers the product or service and those that come in between the customer and the manufacturer needs to know their job for the strategy to work. People may also refer to the customers who will need to buy your products, they are very important to be considered in the development of your marketing strategy.

Process
Customer satisfaction is one of the most important roles of marketing. If you can follow the process of delivering high quality service or products to the customers, your marketing efforts will never be wasted.

Physical evidence
Online, it is difficult for the customer to know how the product is going to benefit them. Thus, you will need to create an element by which the customer will be able to feel, taste and smell the product or experience the service. You can do reports and articles that will excite the customers about the product and the service.

Now, that you know the importance of the different aspects of marketing, you can now create a strategy that will incorporate them and thus improve your delivery of the message the product manufacturer needs to disseminate.

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service marketing
A service is the action of doing something for someone or something. It is largely intangible (i.e. not material). A product is tangible (i.e. material) since you can touch it and own it. A service tends to be an experience that is consumed at the point where it is purchased, and cannot be owned since is quickly perishes. A person could go to a café one day and have excellent service, and then return the next day and have a poor experience. So often marketers talk about the nature of a service as:

Inseparable - from the point where it is consumed, and from the provider of the service. For example, you cannot take a live theatre performance home to consume it (a DVD of the same performance would be a product, not a service).

Intangible - and cannot have a real, physical presence as does a product. For example, motor insurance may have a certificate, but the financial service itself cannot be touched i.e. it is intangible.

Perishable - in that once it has occurred it cannot be repeated in exactly the same way. For example, once a 100 metres Olympic final has been run, there will be not other for 4 more years, and even then it will be staged in a different place with many different finalists.

Variability- since the human involvement of service provision means that no two services will be completely identical. For example, returning to the same garage time and time again for a service on your car might see different levels of customer satisfaction, or speediness of work.

Right of ownership - is not taken to the service, since you merely experience it. For example, an engineer may service your air-conditioning, but you do not own the service, the engineer or his equipment. You cannot sell it on once it has been consumed, and do not take ownership of it.

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