Where your products and services are seen made sold or distributed access for customers to your products is key and it is important to ensure that customers can find you?
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The marketing mix is a familiar marketing strategy tool, which as you will probably know, was traditionally limited to the core 4Ps of Product, Price, Place and Promotion. It is one of the top 3 classic marketing models according to a poll on Smart Insights. Show
The traditional 7Ps of marketing consist of:
Who created the 7Ps marketing mix model?The 7Ps marketing model was originally devised by E. Jerome McCarthy and published in 1960 in his book Basic Marketing. A Managerial Approach. We've created the graphic below so you can see the key elements of the 7Ps marketing mix.  The 4Ps vs The 7PsThe 4Ps marketing mix was designed at a time when businesses were more likely to sell products, rather than services. The 4 Ps represented an early focus on product marketing, when the role of customer service in helping brand development wasn't so well known. Over time, Booms and Pitner added three extended ‘service mix P’s': Participants, Physical evidence, and Processes. Later 'Participants' was renamed as 'People' - the marketing mix covering marketers, customer service reps, recruitment, culture, training and remuneration. Today, it's recommended that the full 7 elements of the marketing mix are considered when reviewing competitive strategies - across product, customer service and more. The 7Ps helps companies to review and define key issues that affect the marketing of its products and services. A popular marketing model, the marketing mix is can also be referred to as the 7Ps framework for the digital marketing mix.
How can I use this marketing model?Although it's sometimes viewed as dated, we believe the 4Ps are an essential strategy tool to select their scope and is particularly useful for small businesses. For startups reviewing price and revenue models today, using the Business Model Canvas for marketing strategy is a great alternative since it gives you a good structure to follow. Companies can also use the 7Ps model to set objectives, conduct a SWOT analysis and undertake competitive analysis. It's a practical framework to evaluate an existing business and work through appropriate approaches whilst evaluating the marketing mix elements. What are the 7Ps of marketing?
An example of a company using the 7Ps marketing mix in their strategyTake a look at HubSpot as an example, which was founded in 2006; Hubspot now boasts over 86,000 total customers in more than 120 countries. Comprised of Marketing Hub, Sales Hub, Service Hub, CMS Hub, and a powerful free CRM, HubSpot adds value for customers in every aspect of the 7Ps. What does a successful marketing mix look like?This is a top-level overview; you would take this into greater detail and ask the following questions: 1. Products/Services: Integrated toolset for SEO, blogging, social media, website, email and lead intelligence tools. 2. Prices/Fees: Subscription-based monthly, Software-As-Service model based on number of contacts in database and number of users of the service. 3. Place/Access: Online! Network of Partners, Country User Groups. 4. Promotion: Directors speak at events, webinars, useful guides that are amplified by SEO and effective with SEO. PPC Social media advertising, e.g. LinkedIn. 5. Physical Evidence: Consistent branding across communications. 6. Processes: More sales staff are now involved in conversion. 7: People: Investment in online services. 8. Partners: Hubspot looks to form partnerships with major media companies such as Facebook and Google plus local partners including Smart Insights who it is collaborating with on research in Europe. What to watch forWhen using the 7Ps as a model to conduct a marketing audit, I look at each of the Ps. It’s unwise to ignore an area unless it is completely outside your control. We are now seeing AI and machine learning techniques informing more developed Marketing Mix Modeling techniques such as regression and forecasting. 9Ps of marketing?As the scope of marketing continues to develop, so does the marketing mix. Since 2007, Larry Londre's 9Ps of marketing has included:
Original References and sources of 7Ps marketing mix Bitner, M. J. and Booms, H. (1981). Marketing Strategies and Organization: Structure for Service Firms. In Donnelly, J. H. and George, W. R. (Eds). Marketing of Services, Conference Proceedings. Chicago, IL. American Marketing Association. p. 47- 52. Where your products and services are seen made sold or distributed?Place refers to where your products and services are made, found, distributed, sold and supported. It can be a physical location, a digital presence, or both.
What is the process through which a product or service is made available to consumers?When a company provides goods or services to consumers when they demand or need them, it is referred to as time utility. Place utility involves making products or services available in locations that allow consumers to easily access them.
What are the 4 types of distribution strategies?Distribution Strategies Types. Direct distribution. Direct distribution involves the manufacturer taking orders and sending its products directly to the consumer. ... . Indirect distribution. ... . Intensive distribution. ... . Selective distribution. ... . Exclusive distribution.. Which of the following is involved in delivering your products and services to the customer?A supply chain includes every step that is involved in getting a finished product or service to the customer. The steps may include sourcing raw materials, moving them to production, then transporting the finished products to a distribution center or retail store where they may be delivered to the consumer.
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