Without one, your efforts to attract customers are likely to be unorganized and inefficient. The main focus of your marketing strategy is to make sure that your products and services meet customer needs and developing long-term and profitable relationships with those customers. To achieve this, you will need to create a flexible strategy that can respond to changes in customer perceptions and demand.
Plainly, the benefits of a planned marketing strategy are numerous. However, creating and executing your marketing strategies is not always that simple. There are endless questions that might pop into your brain when you are working on a marketing strategy.
How do you determine what your strategies should be? How do you make sure the work your team is doing aligns with your strategies? How do you measure their effectiveness?
And many more.
Hence, whether you are a startup business starting out on a marketing plan for the first time, or revisiting your strategy to check you have all the right components, the 7 P’s model can help you create and put together a marketing mix.
You might have heard about the 4 Ps of the marketing mix: Product, Place, Price, and Promotion, but now, when conventional marketing is getting revolutionized by every passing day, the key factors of marketing are now up to 7.
The 7 P’s are a set of recognised marketing tactics, which you can use in any combination to satisfy customers in your target market. In this article we have reviewed the primary purpose of the 7 Ps of the marketing mix, let's dive into how these 7 Ps can be improvised digitally.
In today's market, the context of the product is more about a customer looking for a solution to a problem rather than an actual product. The product should do what the customer wants or needs it to do. Therefore, rather than selecting the right customer for your product, focus on selecting the right product for your customer.
When estimating a product’s price, we must take into account- all the costs entailed in producing, promoting and delivering that product. Your price needs to be fair and profitable. One of the main principles of marketing concept is that customers are usually happy to pay a little more for something that works really well for them.
Promotion plays a vital role in how your customers discover your products. The product should be promoted to the appropriate audience via appropriate channels, using advertising methods which resonate with that audience. It can be done through the media, word of mouth, or simply how the stores are laid out wherever the product is sold.
If you are a novice in this field, you can take the assistance of some experienced web design company offering marketing services.
It is important to ensure that customers are able to find you easily and you can assure it by distributing/placing your products on the channels where the customer expects to find it. Certainly, with online marketing, the whole world can have access to your store, no matter where you are.
This P of marketing mix basically refers to the People i.e. the staff and salespeople who work for your business, including yourself. Having the right people is essential as they have an important role in delivery, customer relationships and the overall customer experience.
The process can be explained as the steps involved in the flawless product/service delivery to the customer. It can significantly affect the customer’s experience, level of satisfaction, and lifetime value to your business.
7. Physical Evidence:
Physical Evidence can be referred to anything and everything your customers see when interacting with your business. This can include receipts, confirmation emails and PDF invoices, your packaging, your branding and more. This creates a consistent, convincing experience for the customer.
Hence, it is often suggested to the marketers working on a strategic level to learn the 7 P’s of the marketing mix. If you are well-versed with the 7 Ps of the marketing mix, you should be able to execute these marketing strategies otherwise, you can anytime turn to the web design company who already master the art of improvising the above-mentioned 7 P’s of marketing.
W3BMINDS is a professional marketing and website design company based in Lucknow, we are committed to stretch the traditional industry-standards and outmatch clients' expectations. Business owners belonging to different industries, in need of business promotional plans and marketing needs, resort to us for edgy business game plans. The firm is committed to creating genuine, humanized experiences that listen and solve instead of tell and sell.