|
Understanding the Seven
P’s of Marketing
Marketing is an important process in the promotion or sales of products and services. It is necessary that you understand the marketing mix and its importance before you can create effective marketing 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 marketing mix. They are necessary to complete the marketing 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. Placement Placement 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 marketing 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. |