Let’s begin with the beginning. We will be discussing the 7 P’s of Marketing. Marketing is all about putting the right product at the right time, at the right price and in the right place. This is what many marketing professionals have found. It’s not hard, is it? It’s the hardest part.

Marketing covers all aspects of the business cycle. This includes analysis, product creation, distribution strategies and sales. This path is map out by marketers using campaigns.

This article will teach you the 7 P’s of Marketing as well as the importance of the marketing mix for a marketer.

Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Which thing only you will get on Market Maker.

The importance of 7P’s Marketing

• Marketing is a discipline that covers all aspects of a company’s efforts to draw consumers and maintain relationships.
• Marketing is at its core, the goal of linking a company’s services and products with customers who want them. Matching customers’ needs with products is a sure way to ensure profitability.

Marketing is made of the 7Ps: product, pricing and place, promotion, physical evidence and people, as well as processes. These 7Ps are the marketing mix a business needs to promote a product or service.

How many P’s are there in marketing?

One of the traditional marketing strategies that organisations use to sell their products is the marketing mix. The marketing mix, which is a combination of marketing strategies that a company uses to promote their brand or product on the market, can be use to lay the foundation.

The four pillars of marketing were price, location, and promotion. As marketing has become more sophisticated, so have the methods. Later, it was extend to include People and Process, Physical Evidence, 

Businesses must materialize the elements of their marketing mix in order to drive marketing decisions at all levels. It helps them:

• Recognizing its strengths and mitigating its weaknesses is key.
• Become more adaptable and competitive
• Enhancing partner and departmental collaboration

Before you can use the 4Ps and 7Ps marketing strategies, you need to first identify your target audience. Knowing who your target audience is will allow you to determine the details of your marketing mix. Without it, you will not be able to start.

Understanding the concept

The 4Ps of Marketing have use since the 1960s to support the idea of the mix. The four Ps stand for the following letters:

• Product
• Price
• Place
• Promotion

In response to changes in company markets and consumers, the marketing mix process has evolved. 

While the original four Ps remain in place, Booms and Bitner added three additional ones:

• People
• Process
• Evidence Physical

Let’s get into each of them in detail with the 7Ps marketing.

1. Product: The unique selling points, characteristics and overall quality of the service or product being offering
2. Promotion: These method use to promote the product via multiple channels.
3. Price: The product’s price plan over the long-term, which includes discounts, promotions, and other special offers
4. Place: Customers need to find out where your product is located, then learn more about it and then purchase it.
5. People: Individuals who are in direct or indirect contact with your target clients
6. Process: How to deliver the product to your clients and give them the best experience
7. Physical evidence: Clients can be convince by tangible goods or experiences that your product is authentic. In the case of digital this could include website visits, confirmation emails and testimonials.

1st 7P’s in marketing – Product

The marketing mixture product is the one being market. The product refers to quality, packaging design, brand, and design. When designing a product, you must make sure it meets the needs of your target market.

It is important to consider the life cycle. This includes growth, maturation, and drop phases. This aspect can be won by provides a higher quality product than your competitors to your target audience.

These are five questions you should ask yourself when defining product mix strategies.

• What are people looking for in a product/service?
• How will they use it and what will they do?
• What features are necessary to meet the requirements of the client?
• Do you find the name of the product memorable?
• What makes your product stand out from the rest?

2nd 7 P’s in marketing – Price

The price in your marketing mix is the amount that your customer will spend. Your profit and survival depend on the price you set. It must not be lower than the cost of production. Pricing can have a major impact on sales, demand, and brand perception.

Tip: Customers may find it easier to compare your prices with those of your competitors. Overpricing can lead to higher costs than the benefits. Is there a middle ground?

Marketers should therefore evaluate the product’s worth and consider different pricing options when determining price.

These questions will help you get started on this marketing mix element.

• Is it priced fairly?
• What is the price of this product compared to other competitors?
• Do you believe discounts should be offered?
• Accept payment plans?
• Is there any credit term the customer may need?

3rd from 7 P’s in marketing – Place

As part of your marketing mix, place refers to how you distribute and make your products available to buyers. You can’t talk about location without mentioning your target audience. This requires a deep understanding of your target market. Once you are able to identify the target client’s needs and preferences, you will be able to determine the best distribution channels.

How do you position your product? These five questions can help you define this marketing element.

• Where can your product be found?
• How can you find the right distribution channels?
• What makes your distribution strategy different from those of your competitors?
• Do you need to hire a sales staff?
• Are you looking to sell something online?

4th out of 7 P’s in marketing Promotion

The component of the promotion mix refers specifically to who, what and how. How is it communicated? To whom is it transmitted? It employs techniques like:

• Advertising
• Sales
• Public relations
• Emails
• Social media

Promotion mix is a strategy to increase brand awareness and sales. These five questions will help you to develop a promotion strategy.

• What and where can your marketing messages reach your target market?
• What do your competitors do to promote themselves?
• How do you compete with your competition in the promotion activities that you choose?
• Which time is best to market your product?
• Are social media best?

5th out of 7 P’s marketing People

Businesses are dependent on their managers. It’s easy to find the right people for your business. They are just as important as the products/services that you offer. This includes employee performance, customer service, and appearance.

It can be hard to determine the “appropriate people”, but the following factors should be considered:

• Service excellence
• Genuine enthusiasm
• Open to suggestions

Tip: The right team can make a difference in your market position.

6th out of 7 P’s marketing – Process

Marketing mix refers to the process by which your product or services are presented to clients. Your company’s sales funnel, distribution system and other methods can help ensure that it runs smoothly. To save money, you will also need to ensure that your process is organized.

Another example is the order that individuals complete tasks, the number of salespeople’s inquiries, and how performance are recorded and evaluated.

7 P’s of Marketing – Physical Evidence

For the 7 Ps, physical proof is essential. You should show proof of delivery, regardless if it is material or intangible. You can also provide proof of delivery by providing receipts and customer service. Physical proof is not enough to prove a company’s product’s value in the marketplace.

Customers will see your brand as the first thing they think of when they hear a sound, word, or phrase. Consistent branding across channels can help you to influence their views.