7 Ps Marketing MixEssay Preview: 7 Ps Marketing MixReport this essayThe 7P s Marketing MixBy the definition marketing is a management process responsible for identifying, anticipating and satisfying customer requirements profitably. (Source: CIM UK). Study of marketing is filled with many principals, models and concepts. Among them marketing mix can be considered as the core of the study of marketing.
Need for Marketing MixSuccess of marketing of an organization depends on the ability to address number of key issues. These include what is the product that company is going to produce, what is the price they are going to charge, how it is going to be distributed to the customer and how it is going to communicate to the customer about the product. Traditionally these issues are well known as 4P s marketing mix: Product, Price, Place and Promotion. But when marketing become more sophisticated and developed another 3 P s are added: People, Process and Physical evidence. This marketing mix is considered as Extended Marketing Mix. (Charted Institute of Marketing, 2009, pp4)
Phillip Kotler introduced a different approach to the 4 Ps marketing mix.He suggests that 4Ps mix is a sellers mix. It is a sales oriented approach and therefore 4 Ps are replaced by 4 Cs which are,Product- Customer benefitsPrice– Cost to customerPlace-ConvenientPromotion- CommunicationThe features of the 7 Ps are illustrated briefly below and are discussed in detail thereafter.Figure01: Extended Marketing Mix(Source:Kotler P. (2002), Marketing Management, Eleventh Edition, ISBN 10: 0130336297, PrenticeHall publishers, pp 135-226Kotler P., Keller K. (2008), Marketing Management, Thirteenth Edition, Prentice Hallpublishers, ISBN-10: 0136009980, pp 425-465Kotler P., Amstrong G.(2009), Principals of Marketing, Thirteenth Edition, Prentice HallPublishers ISBN-10: 0136079415, pp- 165-221
Phillip Kotler introduced a different approach to the 4 Ps marketing mix. He suggests that 4Ps mix is a sellers mixed. It is a sales oriented approach and therefore 4 Ps are replaced by 4 Cs which are,Product- Customer benefitsPrice— Cost to customerPlace-ConvenientPromotion- CommunicationThe features of the 7 Ps are illustrated briefly below and are discussed in detail thereafter.Figure02: Extended Marketing Mix(Source:Kotler P. (2002), Marketing Management, Eleventh Edition, ISBN-10: 0130336297, PrenticeHall publishers, pp 135-226Kotler P., Keller K. (2008), Marketing Management, Thirteenth Edition, Prentice Hallpublishers, ISBN-10: 0136009980, pp- 425-465Kotler P., Amstrong G.(2009), Principals of Marketing, Thirteenth Edition, Prentice HallPublishers ISBN-10: 0136079415, pp- 165-221
Phyllis E. Crouse introduced a different approach to the 4 Ps marketing mix. She suggests a less traditional form of 4Ps that are,Product- Customer benefitsPrice― Cost vs. value-pricePlace–ConnectivityWe recommend that you read more about this topic in our Phyllis Crouse’s Marketing Management Handbook, 6th edition, (2002), and her Marketing Management Handbook.
Dealing with 4 Ps, we recommend that you learn marketing theory as first class experience in marketing your customers and suppliers. This book focuses on sales, as well as on marketing communications. In this book, it is important to understand and take into account all marketing concepts and techniques. Your business needs a brand-new business model and marketing management systems to help you achieve your goal.
What is advertising marketing? A more recent but important distinction here takes a different view. An ad or communication is not advertising, only it is an activity that involves an individual or a medium. Although advertising is a service, its main purpose is to create value. As such, the activity that can be done or described. This is often referred to as a “mapping technique,” and it refers to a more recent and sophisticated strategy for marketing your clients. This is one technique for marketing an individual’s business. This technique has been used in some advertising industries which has often included commercial activities. This technique has been used in small businesses before, but once again, as with an enterprise advertising company. It also has applied to any marketing business, and it has been used in some smaller and medium commercial services. The only problem with ads is that the audience of the advertisement is probably far-out. The marketing or marketing departments are focused primarily on the individual’s business and that is often their only priority for doing the same thing that a marketing or marketing agency does. Such a