MARKETING MIX &

THE 7 P’S OF
MARKETING
ELDERICK D. NICOLAS
Entrepreneurship
Marketing Mix & The 7 P’s Of
Marketing
• The classic marketing mix, as established by Professor of Marketing at
Harvard University, Prof. James Culliton in 1948 and expanded upon
by Jerome McCarthy, incorporates Product, Price, Placement, and
Promotion into a theory of marketing that has been important to the
industry for more than 70 years.
• Since then, the theory has been expanded into the 7 P's of marketing.
• Whichare: Product, Price, Promotion, Place, People, Packaging, and
Process.
Marketing Mix & The 7 P’s Of
Marketing
• Today,we refer to these interchangeably as the 7 P's or as the
Marketing Mix. Here, we will discuss this concept, its components, and
answer some common questions about the marketing mix and its
applications.
What is a marketing mix?
• Marketing mix is a selection of marketing tools that include several
areas of focus that can be combined to create a comprehensive plan.
The term refers to a classification that began as the 4 P’s: product,
price, placement, and promotion, and has been expanded to Product,
Price, Promotion, Place, People, Packaging, and Process.
What are the 7 Ps of Marketing?
• The 4 P’s marketing mix concept (later known as the 7 P’s of
marketing) was introduced by Jerome McCarthy in his book: "Basic
Marketing: A Managerial Approach". It refers to the thoughtfully
designed blend of strategies and practices a company uses to drive
business and successful product promotion. Initially 4, these elements
were Product, Price, Place and Promotion, which were later expanded
by including People, Packaging and Process. These are now
considered to be the “7 P’s” mix elements.
What are the 7 Ps of Marketing?
• It
can be difficult for a small business owner or marketing manager to
know how to establish a unique selling proposition or to reach the
right customers, especially on new platforms like the internet, with
digital marketing.
• Fortunately,
the 7 Ps of marketing give you a framework to use in your
marketing planning and essential strategy to effectively promote to your
target market.

• Youcan also take into consideration elements of the mix in your day to day
marketing decision making process with the goal to attract the right
audience to successfully market to through your marketing campaigns.
The 7 elements of the marketing mix include the
following:
•1. Product (or Service)
• Yourcustomer only cares about one thing: what your product or service can do for
them. Because of this, prioritize making your product the best it can be and
optimize your product lines accordingly. This approach is called “product-led
marketing.” In a marketing mix, product considerations involve every aspect of
what you're trying to sell. This includes:

• Design

• Quality

• Features

• Options

• Packaging

• Market positioning
• Thereare five components to successful product-led marketing that are
important for product marketers to take into consideration:

• Getout of the way. Let your product or service sell itself. Focus your
marketing efforts on getting consumers to try what you have to offer so
they can learn its value for themselves.
• Bean expert (on your customers). Know your customer's needs and use
that knowledge to help communicate your product's value.
• Always be helping. Position yourself as an ally by creating informative
content that meets your target customers’ needs, and they'll be more
likely to buy from you. (This is also called content marketing.)
• Shareauthentic stories. Encourage happy customers to share their
experiences and tell others why they appreciate your brand.
• Grow a product mindset. Focus on your product before you consider how
to sell it. Invest in development, and the product quality will take care of
the rest
Marketing Mix & The 7 P’s Of
Marketing
•2. Price
• Many factors go into a pricing model. Brands may:

• Price
a product higher than competitors to create the impression of a
higher-quality offering.
• Price
a product similar to competitors, then draw attention to features or
benefits other brands lack.
• Pricea product lower than competitors to break into a crowded market or
attract value-conscious consumers.
• Planto raise the price after the brand is established or lower it to highlight
the value of an updated model.
• Set the base price higher to make bundling or promotions more appealing.
• Considerwhat you're trying to achieve with your pricing strategy and
how price will work with the rest of your marketing strategy. Some
questions to ask yourself when selling products:

• Will you be offering higher-end versions at an additional cost?

• Doyou need to cover costs right away, or can you set a lower price
and consider it an investment in growth?
• Will you offer sales promotions?
• How low can you go without people questioning your quality?
• How high can you go before customers think you’re overpriced?
• Are you perceived as a value brand or a premium brand?
Marketing Mix & The 7 P’s Of Marketing
•3. Promotion
• Promotion is the part of the marketing mix that the public notices most. It includes television
and print advertising, content marketing, coupons or scheduled discounts, social media
strategies, email marketing, display ads, digital strategies, marketing communication,
search engine marketing, public relations and more.

• All these promotional channels tie the whole marketing mix together into an omnichannel
strategy that creates a unified experience for the customer base. For example:

• A customer sees an in-store promotion and uses their phone to check prices and read
reviews.
• They view the brand's website, which focuses on a unique feature of the product.
• The brand has solicited reviews addressing that feature. Those reviews appear on high-
ranking review sites.
• The customer buys the product and you’ve sent a thank you email using marketing
automation.
Marketing Mix & The 7 P’s Of Marketing
•Here are the ways you can use these channels together:

•Make sure you know all the channels available and make the
most of them to reach your target audience.
•Embrace the move toward personalized marketing.
•Segment your promotional efforts based on your customers'
behavior.
•Test responses to different promotions and adjust your
marketing spend accordingly.
•Remember that promotion isn't a one-way street. Customers
expect you to pay attention to their interests and offer them
solutions when they need them.
Marketing Mix & The 7 P’s Of Marketing
•4. Place
• Where will you sell your product? The same market research that
informed your product and price decisions will inform your placement
as well, which goes beyond physical locations. Here are some
considerations when it comes to place:

• Where will people be looking for your product?

• Will they need to hold it in their hands?
• Will you get more sales by marketing directly to customers from your
own e-commerce website, or will buyers be looking for you on third-
party marketplaces?
• Do you want to converse directly with your customers as they
purchase, or do you want a third party to solve customer service
issues?
Marketing Mix & The 7 P’s Of Marketing
•5. People
• People refers to anyone who comes in contact with your customer, even
indirectly, so make sure you're recruiting the best talent at all levels—not
just in customer service and sales force.

• Here’s
what you can do to ensure your people are making the right
impact on your customers:

• Develop your marketers’ skills so they can carry out your marketing mix
strategy
• Think about company culture and brand personality.
• Hire professionals to design and develop your products or services.
• Focus on customer relationship management, or CRM, which creates
genuine connections and inspires loyalty on a personal level.
Marketing Mix & The 7 P’s Of
Marketing
•6. Packaging
• A company's packaging catches the attention of new buyers in a crowded marketplace
and reinforces value to returning customers. Here are some ways to make your
packaging work harder for you:

• Design for differentiation. A good design helps people recognize your brand at a
glance, and can also highlight particular features of your product. For example, if
you’re a shampoo company, you can use different colors on the packaging to label
different hair types.
• Provide valuable information. Your packaging is the perfect place for product education
or brand reinforcement. Include clear instructions, or an unexpected element to
surprise and delight your customers.
• Add more value. Exceed expectations for your customers and give them well-designed,
branded extras they can use, like a free toothbrush from their dentist, a free estimate
from a roofer, or a free styling guide from their hairdresser.
Marketing Mix & The 7 P’s Of
Marketing
• 7. Process
• Prioritize processes that overlap with the customer experience. The more specific
and seamless your processes are, the more smoothly your staff can carry them out.
If your staff isn't focused on navigating procedures, they have more attention
available for customers—translating directly to personal and exceptional customer
experiences.

• Some processes to consider:

• Are the logistics in your main distribution channel cost-efficient?

• How are your scheduling and delivery logistics?
• Will your third-party retailers run out of product at critical times?
• Do you have enough staff to cover busy times?
• Do items ship reliably from your website?
Marketing Mix & The 7 P’s Of
Marketing
•6. Packaging
• A company's packaging catches the attention of new buyers in a crowded marketplace
and reinforces value to returning customers. Here are some ways to make your
packaging work harder for you:

• Design for differentiation. A good design helps people recognize your brand at a
glance, and can also highlight particular features of your product. For example, if
you’re a shampoo company, you can use different colors on the packaging to label
different hair types.
• Provide valuable information. Your packaging is the perfect place for product education
or brand reinforcement. Include clear instructions, or an unexpected element to
surprise and delight your customers.
• Add more value. Exceed expectations for your customers and give them well-designed,
branded extras they can use, like a free toothbrush from their dentist, a free estimate
from a roofer, or a free styling guide from their hairdresser.
Marketing Mix & The 7 P’s Of
Marketing
•6. Packaging
• A company's packaging catches the attention of new buyers in a crowded marketplace
and reinforces value to returning customers. Here are some ways to make your
packaging work harder for you:

• Design for differentiation. A good design helps people recognize your brand at a
glance, and can also highlight particular features of your product. For example, if
you’re a shampoo company, you can use different colors on the packaging to label
different hair types.
• Provide valuable information. Your packaging is the perfect place for product education
or brand reinforcement. Include clear instructions, or an unexpected element to
surprise and delight your customers.
• Add more value. Exceed expectations for your customers and give them well-designed,
branded extras they can use, like a free toothbrush from their dentist, a free estimate
from a roofer, or a free styling guide from their hairdresser.