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    Marketing Mix 7P's

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    Almira Udjan
    The 7Ps marketing mix model was originally developed by E. Jerome McCarthy in 1960. It expands the traditional 4Ps of marketing (product, price, promotion, and place) to include an additional three Ps: people, processes, and physical evidence. This extended 7Ps framework considers how all elements of the marketing mix need to work together to meet customer needs and achieve marketing objectives. Companies can use the 7Ps model to evaluate their marketing strategy, conduct SWOT analyses, and ensure the appropriate mix of elements.

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    Marketing Mix 7P's

    Uploaded by

    Almira Udjan
    220 views11 pages
    The 7Ps marketing mix model was originally developed by E. Jerome McCarthy in 1960. It expands the traditional 4Ps of marketing (product, price, promotion, and place) to include an additional three Ps: people, processes, and physical evidence. This extended 7Ps framework considers how all elements of the marketing mix need to work together to meet customer needs and achieve marketing objectives. Companies can use the 7Ps model to evaluate their marketing strategy, conduct SWOT analyses, and ensure the appropriate mix of elements.

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    Marketing Mix 7P’s

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    The 7Ps marketing mix model was originally developed by E. Jerome McCarthy in 1960. It expands the traditional 4Ps of marketing (product, price, promotion, and place) to include an additional three Ps: people, processes, and physical evidence. This extended 7Ps framework considers how all elements of the marketing mix need to work together to meet customer needs and achieve marketing objectives. Companies can use the 7Ps model to evaluate their marketing strategy, conduct SWOT analyses, and ensure the appropriate mix of elements.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    220 views11 pages

    Marketing Mix 7P's

    Uploaded by

    Almira Udjan
    The 7Ps marketing mix model was originally developed by E. Jerome McCarthy in 1960. It expands the traditional 4Ps of marketing (product, price, promotion, and place) to include an additional three Ps: people, processes, and physical evidence. This extended 7Ps framework considers how all elements of the marketing mix need to work together to meet customer needs and achieve marketing objectives. Companies can use the 7Ps model to evaluate their marketing strategy, conduct SWOT analyses, and ensure the appropriate mix of elements.

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    Marketing Mix

    7P’s
    E. Jerome McCarthy
    The 7Ps 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.
    Marketing MIX
    The marketing mix is the combination of elements used by a
    business to enable it to meet the needs and expectations of
    customers.
    It is called a marketing mix because each element of the marketing
    mix is related to the others. The challenge for marketing is to ensure
    that the elements of the mix work together to achieve the marketing
    objectives. Traditionally the marketing mix has been taken to comprise
    four elements: (product, price, promotion and place).
    However, in recent years it has become more common to add
    three new elements to the traditional marketing mix, making a
    combined 7p’s. This is the so-called extended marketing
    mix.
    7 p’s
    The 7p's extended marketing mix therefore comprises the following
    elements:
    Product: the good or service that the customer buys
    Price: how much the customer pays for the product
    Place: how the product is distributed to the customer
    Promotion: how the customer is found & persuaded to buy

    People: the people who make contact with customers in delivering the
    product

    Process: the systems and processes that deliver a product to a customer

    Physical: the elements of the physical environment the customer


    experiences
    A key implication of an extended marketing mix is that the seven elements need to work even
    closer together for marketing to be effective.:

    E.g. Customer service, HR (recruitment & training) - technology becomes increasingly


    important

    E.g. role of IT in e-commerce & customer communication - intangible elements such as


    branding play an enhanced role

    Extending the marketing mix by adding Physical, Process and People to usual 4P’s connects the
    marketing function much closer to both human resource management and operations.
    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 mix element as shown
    below and ask yourself the
    ● Products/Services: How can you develop your products or services?
    ● Prices/Fees: How can we change our pricing model?
    ● Place/Access: What new distribution options are there for customers to
    experience our product, e.g. online, in-store, mobile etc.
    ● Promotion: How can we add to or substitute the combination within paid,
    owned and earned media channels?
    ● Physical Evidence: How we reassure our customers, e.g. impressive
    buildings, well-trained staff, great website?
    ● People: Who are our people and are there skills gaps?
    ● Partners: Are we seeking new partners and managing existing partners
    well?.

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