Friday, 15 May 2020

7ps Of Marketing Mix | Best For Customer Relationship

Marketing is a discipline for interaction between companies and retailers. When the great product is made by a company or indvidual nature that deserve the better marketing strategies.

7ps of marketing mix

Nowadays, many industries can made up the product to target specific audience that means it has high compitition. If you are facing high compitition for a better product, than you want to best marketing strategies to make customer relationship. That's why I am sharing 7Ps of Marketing Mix which is change your mindset for marketing era. This 7Ps of Marketing Mix is so powerful when you are confident about your product is relevant, useful and great performance.

7Ps of Marketing Mix

  1. Product
  2. Price
  3. Promotion
  4. Place
  5. Process
  6. People
  7. Physical Evidence

Let me clarify all the 7Ps of Marketing Mix below:

1. Product

Product

A product is a service or an item intended for sale only. It may be physical or virtual. The product is made at a cost and is sold at a price. The first Intel Processor and DSLR Cameras were examples of new products using new technologies.

There are four types of consumer products:
  1. Convenience
  2. Shopping
  3. Specialty
  4. Unsought

2. Price

Price

A price is influenced by both production costs and demand for the product. The amount of money given or set as consideration for the sale of a specified Product or a Service. Thus, customers exchange a certain value for having or using the product – a value we call price.

3. Promotion

Promotion

Promotion is one of the basic elements of any kind of marketing, which includes the 4Ps: price, product, promotion, and place. In 7Ps of marketing, Promotion is a part of marketing means spreading information about a product, brand, or company.

There are some types of Promotion:
  1. Publicity
  2. Public relations
  3. Personal selling
  4. Direct marketing
  5. Advertising
  6. Sponsorship
  7. Sales promotion and digital.

4. Place

Place

Place refers to distribution or the methods and location you use for your products or services to be easily accessible to the targeted customer. This movement could be through a combination of intermediaries such as distributors, wholesalers and retailers.

5. Process

Process

Process is the important term of 7Ps of marketing which refers to the processes involved in delivering your products and services to the customer. The strategy is formulated for a value proposition, tactical decisions are taken, plan is executed, and results are monitored.

6. People

People

People is one of the essential elements of the 7Ps of marketing. Services tend to be produced and consumed at the same moment, and aspects of the customer experience are altered to meet the individual needs of the person consuming it.

7. Physical Evidence

Physical evidence

Physical evidence, also called real evidence: The most important kinds of physical evidence are fingerprints, tire marks, footprints, fibers , paint, and building materials.
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