Marketing is a broad term that surrounds many activities and processes that aim to create, communicate, deliver, and exchange value for costumers, clients, partners, and society at large. Marketing is not only about selling or showing things on a TV, it’s also about understanding the needs and wants of target audience and creating content, services or products that meets those needs and wants. Marketing includes researching, promoting, distributing, and pricing of products or services, as well as branding, customer services, and product development.
The 7Ps of marketing also referred as Marketing Mix is a toolkit with seven important ideas for professionals to make plans that get people interested in things, make them want to buy their services or products and earn more money. It includes three additional marketing principles that build on the original concept of the four Ps of marketing, which are product, price, place and promotion. The three new marketing principles are people, process and physical evidences. Let's take a closer look at each of the 7P's and understand why they are important for creating strong marketing plans.
In the heart of the Marketing Mix lies Product, which is what businesses are selling. It’s like the main character in a story. It’s not just any regular thing, it’s something that people want and need. Think of it as a special solution to a problem or a desire.
When businesses are trying to make people buy something, they need to answer two important questions: What issue does their product solve? And why should they choose their product over others to solve it?
In the world of digital marketing, there are many cool ways to show off your products or services. You can make your website easy to find on Search Engines like Google. You can write interesting articles or blogs about your products or services. You can also pay to put up ads that catch people's attention. If you team up with popular folks on the internet, it helps too. And sometimes, creating videos that everyone loves to watch can work wonders in getting your product noticed.
The second “P” of the Marketing Mix which is Price refers to the value your consumer is going to pay you for your goods and services.
Deciding how much your product should cost is an important plan. It should match what your customers are willing to pay and consider things like how much it costs to make and sell the product.
Your marketing plan can also involve giving special price offers to people who subscribe or become members. You can also send emails about special deals and sales to get more customers interested.
The third “P” of stands for “Place”, Place where your product is displayed plays a vital role. Even if your product is great, people won't know about it unless you get it to them in the right way.
'Place' means choosing the best ways to get your product to the people who want it. This could be through a physical store, eCommerce website, or both. Making the 'place' work well makes sure your product is easy to find and buy.
Understanding that your product or services gets to the right people at the right place is very important. You need study about your targeted audiences on how do they buy things and where they are in the process of buying. This helps you decide places to show up and sell your products and services. If you know this well, you can plan how to put your products our there, both online and in real stores.
Understanding when and where people are ready to buy will help you choose the best places to tell them about your product and sell it to them.
The most important element and the 4th “P” of Marketing Mix is promotion. After finding a product, its price and place to display your product, it’s really important to promote them. Any marketing plan is incomplete without promotions. Promotion refers to communication techniques to showcase or promote a product or service to its targeted audience.
Creating compelling advertisements that grabs attention and create brand awareness. Whether you are running them in you real store or using social media platforms like Google, Facebook, Linkedin, etc. Promoting your products will let your targeted audiences know about your products and services at the right place and time, where they can make easy decisions on from where they should buy a particular product or service.
The Fifth “P” of Marketing Mix is People, these are often referred as targeted market for a business which is attempting to reach through their promotional campaigns. We can’t deny the importance of people in marketing is really important for the success of any marketing campaign.
It is essential to understand what customers in the targeted market need, want, and do is crucial, this helps in businesses making effective marketing strategies that attract them.
By considering the preferences of their audience, companies can adjust their messages, product offers, and customer services. This helps companies to fulfill customer needs and form stronger connections. The human aspect of marketing is crucial for building lasting relationships with customers and achieving business success.
Sixth “P” of Marketing Mix is Process. Process in marketing refers to the internal operations that drive costumer experiences. Internal operations mean the steps a company takes to give its products and services to consumers. It starts when the company first talks to the customer and goes all the way until after the customer buys something.
When a company plans a well-designed marketing process, it can make customers really happy by always giving them great experiences. Creating a well-structured marketing process also saves money by making things better and faster.
A good marketing process should always think about what customers want, be able to change quickly, and adjust when things in the market change. This helps the company stay strong and up-to-date in a fast business world.
Now we have reached to seventh and the last “P” of this Marketing Mix, which is called “Physical Evidence”. This means the things that can be seen or touched that helps users in understanding a brand’s worth.
This can be how a product or store looks, the quality of packaging materials, or how a website is designed. These physical things are really important because they tell customers about quality, reliability, and trustworthiness.
For businesses, having a strong physical presence is important to make customers trust them and believe they're reliable. By focusing on good physical evidence, companies can stand out and make a strong impression in a busy market.
It’s the end of the journey of 7P’s of Marketing. Where you learned about all the important aspects of marketing and how to make successful business plans. This perfect ladder made by marketing legends includes Products, Price, Place, Promotion, People, Process, and Physical evidences. The 7P's reveal the skill of creating powerful marketing plans, making sure your brand's message spreads widely in the world of business.
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