7ps of Marketing mix

 7P's of Marketing mix:-

 1.Product

 2.Place

 3.Price

 4. Promotion

 5. People

 6. Processes

 7. Physical Evidence

 

1. Product:-

The Product should fit the task consumers want it for, it should work and should be What the consumers are expecting to get. To begin with, develop the habit hbo looking at your product as though you were an outside marketing consultant brought in lo

help your company decide whether or not it's in the right business at this time. Ask critical

questions such as, "s your current product or service, or mix of products and services,

appropriate and suitable for the market and the customers of today? Whenever you're having difficulty selling as much of your products or services as you'd like, you need to develop the habit of assessing your business honestly and asking, "Are these the right products or services for our customers today?" Is there any product or service you're offering today that, knowing what you now know, you would not bring out again today? Compared to your competitors, is your product or service superior in some significant way to anything else available? If so, what is it? If not, could you develop an area of superiority? Should you be offering this product or service at all in the current marketplace?

2. Place:-

The product should be available from where your target consumer finds it easiest to

shop. This may be High Street, Mail Order or the more current option via e-commerce or an online shop. You can sell your product in many different places. Some companies use direct selling, sending their salespeople out to personally meet and talk with the prospect. Some sell.

marketing. Some sell through catalogs or mail order. Some sel by using manufacturers' representatives or distributors. sell at trade shows or in companies that use products or services. combination of one or more of these methods. . Many companies use it .

3. Price:-

The Product Product should always be seen as representing good value for money. This marketing concept is that customers are usually happy to pay littlemoreforsometn of the main tenets of the product. Develop the habit of continually examine

works really well to pay a little more something that mining and reexamining the the products and services you sell to make sure they're still appropriate prices of the current market. Sometimes you need to lower the price to be appropriate to raise your prices. Many companies have found profitability or prices. At other times, it certa cein products or services don't justify the amount of effort and resources that go into prod producing them.

           By raising their prices, they may lose a percentage of their customers, but The remaining percentage generates a profit on every sale. Sometimes you need to change your terms and conditions of sale.Sometimes,by spreading your price over a series of months or years, you can sell far more than you are today, and the interest you can charge will more than make up for the delay in cash receipts. Sometimes you can combine products and services together with special offers and special promotions.

            Sometimes you can include free additional items that cost you very 1little to produce but make your prices appear far more attractive to your customers. In business, as in nature, whenever you experience resistance or frustration in any part of your sales or marketing plan, be open

to revisit that area. Be open to the possibility that your current pricing structure is not ideal for the current market. Be open to the need to revise your prices, if necessary, to remain competitive, to survive and thrive in a fast-changing marketplace.

4. Promotion:-

Advertising, PR, Sales Promotion, Personal Selling and, in more recent times,

DoC1al Media are all key communication tools for an organization. These tools should be used 0 put across the organization's message to the correct audiences in the manner they would .

includes all the ways you tell your customers about your products or services and now you them.then market and sell to

Idea to dramatically change to higher sales. Experienced copywriters can often

Small changes in the way you promote and sell your products can tick changes in your results. Even Small changes in your advertising can increase the response rate of advertising by 500 percent by simply changing the headline on an advertisement. Large and small companies in every industry continue uy experiment with different ways of advertising, promoting, and icing. And here is the rule: Whatever Method of marketing and sales you're using today and selling their products will, sooner or later, stop working. Sometimes it will stop working for reasons you know, and ll be for reasons you don't know. In either case, your methods of marketing services. And sometimes it will

and sales will eventually stop working, and you'll have to develop new sales, marketing and advertising approaches, offerings, and strategies.

5. People:-

All companies are reliant on the people who run them from front line Sales staff to

the Managing Director. Having the right people is essential because they are as much a part of your business offering as the products/services you are offering. Develop the habit of thinking in terms of the people inside and outside of your business who are responsible for every element of your sales, marketing strategies, and activities. It's amazing how many entrepreneurs and businesspeople will work extremely hard to think through every element of the marketing strategy and the marketing mix, and then pay little attention to the fact that every single decision and policy has to be carried out by a specific person, in a specific way.

           Your ability to select, recruit, hire and retain the proper people, with the skills and abilities to do the job you need to have done, is more important than everything else put together. To be successful in business, you must develop the habit of thinking in terms of exactly who is going to carry out each task and responsibility. In many cases, it's not possible to move Forward until you can attract and put the right person into the right position. Many of the best business plans ever developed sit on shelves today becauSe the people who created them]1 cOuld not find the key people who could execute those

6.Processes:The delivery at your Service is usually done with the customer service being delivered. The delivery is once again part of what the consumer is paying for.

7.physical evidence:-

Almost all services include some physical elements even if the bulk What the consumer is paying for is intangible. For example, a hair salon would provide ui client with acompleted hairdo and an insurance company would give their customers cm of printed material. Even if the material is not physically printed (in the case of PDFs) receiving a "physical product" by this definition. They still are .