Marketing mix is a set of actions and strategies. That a company uses to promote its product and services. Basically, there are 4Ps in the marketing mix. Here 4Ps are Price, Product, promotion, and place. Nowadays three more Ps are included in the marketing mix. Marketing mix 7Ps are process, physical evidence, people Price, Product, promotion, and place. In this process, physical evidence and people are new Ps that are added.
These marketing mix 7ps can be used in digital marketing as well. Understanding these marketing mixes online can become more beneficial for a business. Because in traditional marketing these mixes have their own limits on their benefits. Like there is a limit on people to whom we can reach. The cost of advertising is expensive, and can not reach a faraway customers. Whereas in digital marketing, the cost is much lower. And we can reach our customers even if they are from another state or country.
Working of Marketing mix 7Ps
When a customer enters your website. They should see your product or service’s features and benefits. Therefore marketing mix 7ps, Popularity of social media like Instagram, youtube is increasing rapidly. Showing your product and services through it can increase brand awareness about your product and services. For this, you can work with an influencer or a YouTuber to create content. Your product should be of good quality and should satisfy your customers if you are using 7ps marketing mix
Price is one of the P in marketing mix 7ps. It is the cost of the product that a customer will pay. But we also have to include secondary factors. What is customers’ expected value for an online product? And the time product will take to reach them. Including these factors in the pricing strategy can help you develop more accurate pricing for the product. The online pricing strategy includes many different steps. Like single purchase model, The SaaS, etc.
Place means where you are going to sell your product and how. In online mode, the place includes social media platforms like Instagram, Facebook, etc. These platforms provide selling facilities on their app. Which helps a lot of small businesses to grow. Online stores like Shopify can also be used to sell the product online. The other way of selling is to add your product on online marketplaces like Amazon, eBay, Flipkart, etc. Your product should be satisfactory and also of good quality.
Promotion means promoting your product through various online promotion strategies. Like, Google AdWords, social media advertising, and others. If you are new to this and you don’t know how to advertise or to make advertisement strategies. Then you should hire a digital marketing agency like Caneplus Technology. Promoting online will create brand awareness for your targeted customers.
People are also an important aspect of your product and company. Even a great company needs people to promote their product and services online, Here is an important role of marketing mix 7ps. And even if you are doing an offline business, you need a good salesperson. Online businesses need customer service people to solve customer queries and problems.
Here the process means customer satisfaction from the whole procedure. From entering into a website to buying the product to payment Procell till leaving the website. The customer experience should be good. Your website or app should not take a lot of time to load or get hung easily. If these things happen, then it will affect the customer experience. And they may not visit again.
7. Physical Evidence
This is the marketing mix 7ps the last P. Before buying anything a person always goes for the review of related videos of the product. If the review is not good or up to the mark then they will not buy the product. Like Dove, the women in their advertisements are not actresses but normal women. They record their experience with the product and advertise it.
In conclusion, Using these 7Ps of the marketing mix can help your business a lot. Including these in your marketing decision will help you in better decision-making. The benefits of 7Ps are vast. However, if a business understands this marketing mix and applies them to its business properly. Then it can improve its competitiveness in the marketplace. Thus, marketing mix 7ps increases your business.