The 7Ps of marketing is a framework used to ensure that all aspects of the marketing mix are considered when developing marketing strategy. The framework consists of product, price, place, promotion, people, process and physical environment.
What is the 7Ps Marketing?
The 7Ps of marketing is a framework that can be used to help you think about the right marketing mix for your business. The 7Ps stands for product, price, place, promotion, people, process, and physical environment.
- Product: The first step is to think about the product or service that you are offering. What are the features and benefits of your product? How is it different from other products on the market?
- Price: The next step is to think about pricing. How much will you charge for your product or service? What pricing strategy will you use?
- Place: The next step is to think about where you will sell your product or service. Will you sell online or in a brick-and-mortar store?
- Promotion: The next step is to think about how you will promote your product or service. Will you use traditional advertising methods or digital marketing channels like social media optimization & marketing, search engines optimization & marketing, email marketing, content marketing, influencer marketing etc.
- People: The next step is to think about who will buy your product or service. Who is your target marketing audience?
- Process: The final step is to think about the process of buying your product or service. What steps will the customer need to take in order to purchase your product or service?
Who created the 7Ps marketing model?
The 7Ps marketing model was first introduced by E. Jerome McCarthy in his 1960 book, Basic Marketing: A Managerial Approach. McCarthy proposed that there are seven elements to a marketing mix: product, price, place, promotion, people, process, and physical environment.
McCarthy’s model has been widely used by marketing professionals and is still considered to be a relevant framework in today’s business world. Everyone is following this marketing model where an owner is selling online or offline, whether he/she is a small business owner or big. However, some experts have criticized the model for being too simplistic and not taking into account the ever-changing nature of the marketing landscape.
Despite its critics, the 7Ps marketing model is one of the most powerful and useful tools for marketers to keep in mind when planning their marketing strategy. It helps to ensure that all of the important elements of marketing are considered and provides a structure for thinking about each component in turn.
The 4Ps vs 7Ps Vs Upcoming 9Ps
The 4Ps of marketing (product, price, place, and promotion) are the foundation of your marketing mix. They are the elements that you can control to create a successful marketing strategy.
The 7Ps of marketing (product, price, place, promotion, people, process, and physical environment) were first introduced in 1960 by E. Jerome McCarthy. These elements are often considered in addition to the 4Ps when creating a marketing mix.
The 9Ps of marketing (product, price, place, promotion, people, process, physical environment, performance, and positioning) were first introduced in 2004 by Philip Kotler. These elements are considered in addition to the 4Ps and 7Ps when creating a marketing mix.
Upcoming 10Ps of marketing (purposeful segmentation targeting positioning (PSTP), product policy decision, pricing policy decision, placement policy decision , promotions policy decision , people policy decision , processes policy decision , physical evidence policy decision , performance policy decision , personalization ) will be the most important one as it will help you to create a more targeted and customized marketing mix for your business.
So which one should you use? The answer is that it depends on your business goals and objectives.
The 7Ps of marketing is a framework for thinking about the marketing mix for your product or service. It covers the “7Ps”: Product, Price, Place, Promotion, Physical environment, People, and Processes. It’s a helpful tool to ensure you’ve considered all the key elements of your marketing mix.
How can I use the 7ps marketing model?
The 7ps marketing mix is a tool that can be used to help you create an effective marketing strategy. It can be used to identify and assess the key elements of your marketing mix.
The 7ps marketing mix includes the following elements:
- Product: What are you selling?
- Price: How much are you selling it for?
- Place: Where are you selling it?
- Promotion: How are you promoting your product?
- People: Who is your target market?
- Process: How will your customers order and receive your product?
- Physical evidence: What physical evidence do you have to support your brand?
The 7ps marketing mix can be used to help you create a comprehensive and effective marketing strategy. By taking the time to consider each element of the mix, you can ensure that your marketing efforts are targeted and successful.
How to incorporate the 7 PS into your Marketing Mix?
The 7 Ps of marketing mix are Product, Price, Place, Promotion, Physical environment, Process and People.
Product
The first step is to understand what product or service you are selling and what needs it satisfies in your target market.
Price
The second step is to determine the right price for your product or service. You need to consider the perceived value of your product or service, your cost of production or delivery, and what prices your competitors are charging.
Place
The third step is to choose the right place or distribution channel to sell your product or service. You need to consider the geographical areas your target market is located in, the type of channels they prefer to use, and any physical limitations that might exist.
Promotion
The fourth step is to create a promotional mix that will reach your target market effectively. You need to consider the different types of promotion activities like search engines marketing, social media marketing, influencer marketing, affiliate marketing, email marketing, brand marketing, public relations, sales promotion, etc. the media channels you will use can be both online as well as offline mode. You have to even look for how often you will promote your product or service.
Physical environment
The fifth step is to create a positive physical environment for your product or service.
Process
You need to check the complete process that you will be following before implementing it and also take care of the pros and cons of the process. After implementing, do study the result briefly from time to time so that you can understand the process of what you are going through.
People
Check whether they have acquired all your target audience or not and if you have not acquired the complete audience try to do it with the help of different promotion activities.
How to make a successful 7ps marketing mix?
A successful marketing mix will ensure they are marketing their products or services effectively. For a successful marketing mix you should take all of these factors into account and ensure that they are all working together to achieve the desired results.
1. Product
The first p in the marketing mix is product. This refers to the actual product or service that you are offering. It is important to ensure that your product is of good quality and meets the needs of your target market.
2. Price
The second p in the marketing mix is price. This is the amount of money that you charge for your product or service. It is important to find a balance between making a profit and making your product affordable for your target market.
3. Promotion
The third p in the marketing mix is promotion. This refers to the ways in which you promote your product or service. There are many different promotional tools available, such as advertising, public relations, and sales promotions. It is important to choose the right promotional tools for your business and your target market.
4. Place
The fourth p in the marketing mix is place. You should be at a place where you are accessible to offline customers as well as online customers. Accessible to online customers means the delivery partners should be accessible so that they could easily deliver your product to your online customers. Also if you are dealing in online terms your network connectives etc. matter a lot so place is an important thing to remember.
5. People
The fifth p in the marketing mix is people. This refers to the targeted audiences. It is important to ensure that your product/services is accessible to your target audience so that they can buy it.
6. Process
The sixth p in the marketing mix is process. Make your process very easily and very clear so that your staff/employee should not be confused about your process and provide you a better result. Also make sure you have enough staff/employees for every implementation of the process to make your process smooth and comfortable.
7. Physical evidence
The seventh p in the marketing mix is physical evidence. This refers to the consistent branding across communications.
So have have learn everything about 7Ps Marketing. Try to implement it in your marketing and make successful marketing mix to ensure better marketing of your products or services and achieve the desired results.
