Marketing mix 7P - how does marketing evolve?

Marketing mix 7P came about through the evolution of marketing strategies. It can be compared to a recipe for a cake. There are certain ingredients that are necessary for the cake to be successful. However, you can modify the recipe and change the proportions of some of them. The same applies to marketing, where one of the most well-known terms is the marketing mix. The concept of a marketing plan has also changed over the years. Let us trace how.

Although cash flow is the lifeblood of any business, without proper marketing to target audiences, there could be no flow at all. A business without a steady flow of customers will simply die. Marketing is therefore the fuel for your business too. Its role has been realised for many years. However, it was not immediately marketing mix 7P. The term marketing mix was first used by Neil Borden in 1953. Seven years later, Edmund Jerome McCarthy proposed a classification of its key elements.

The beginnings of the marketing mix

The four basic elements of the marketing mix, distinguished by Edmund Jerome McCarthy, commonly function under the name 4P. On 4P concept the marketing mix consists of:

• Product (product),

• Price (price),

• Salaries (place, distribution),

• Promotion (special offer).

All these elements of the marketing mix are interrelated. They are the activities, processes, methods and techniques used in companies, which together form an integrated system of influencing the market environment - customers, competitors, stakeholders, etc. Marketing as an economic and social phenomenon has changed with the development of mass production, the growth of consumer incomes, etc. The marketing activities of companies today, as in the past, aim to better and more fully meeting the needs of consumers. This is only possible when taking into account the changing market and customer expectations. Therefore, over time, the marketing strategy was enriched with a further 3 elements. This is how marketing mix 7P.

What is the 7P marketing mix?

The marketing mix 4P concept was designed when the role of customer service in supporting the company's development was not realized. Nevertheless, over time, the marketing mix toolkit has been expanded to include another 3Ps. Behind them are:

• People (people, and initially they were participants, i.e. participants),

• Physical evidence (physical evidence, material certificate),

• Processes (processes).

Today, it is advisable to conduct marketing activities with a full set of tools marketing mix 7P. What is this about? Let's go back to the example of the cake. You can modify the quantity of its ingredients to a certain extent. If you want it to be sweeter, you simply add more sugar. It is the same with the marketing mix. It is up to you, for example, how you construct your offer to the customer. If you are selling a premium brand, you can increase the emphasis on promotion, which, like icing, will soften the price - perhaps making it a little harder to swallow.

Another way to think about the marketing mix is to compare it to the painter's palette. The marketer mixes the primary colors (elements of the marketing mix) in different amounts depending on what end color they want to achieve. And just as each painting is original, each marketing mix strategy will be different. There is no ready-made recipe for marketing success. However, let's look at the individual components of the marketing mix in more detail. These tools, when properly used, can realistically increase the chance of increasing brand awareness, and as a result increase product sales, which is the element at the heart of the marketing mix.

Marketing mix 7P tools

Marketing mix 7p incorporates all the elements of the 4p concept, which are:

Product

Product as part of the marketing mix, is a term that refers to both a tangible item and a service that a company wants to sell. For a product to have any value, it must meet a specific consumer need. Otherwise, even the best marketing strategy won't make anyone want to buy it. Only after identifying the true potential of the product can you move on to the next step, which is setting its price. 

Price

consumers calculate the value of a product in their minds even before they see the price. That is why it is worth looking at it through the eyes of potential customers. How much will they want to pay for it and why? If a product doesn't offer much, it will have little value to the consumer.

Distribution

i.e. the channels through which a product or service reaches the customer. To determine the best strategy, it is worth using marketing segmentation. Distribution includes both the physical location of stores or service outlets, as well as the arrangement of products on store shelves. If your customers are active online, and most of them are, take care of the most convenient payment methods and shipping conditions that are attractive in terms of time and cost.

Special offer

is the most visible "P" in the strategy marketing mix 7P, because it involves advertising, sales promotions, PR activities, etc. After all, you can't sell a product if consumers don't know about it, right? Here the options are many, depending on what, where and to whom you are selling. It is certainly worth planning a communications strategy, implementing engaging advertising campaigns and online marketing.

People

is the first ingredient highlighted in the modernised marketing concept. Marketing mix 7p implies that to provide excellent and consistent customer service, companies need to hire and train the right people. In many industries, it is the employees who are the direct point of contact between the consumer and the brand. Their competence, how they communicate with the customer, is often crucial in building the brand image in the consumer's mind.

Processes

automation, systems and processes are of great importance in the marketing mix. They reduce costs while playing a vital role in achieving customer satisfaction and measuring results. The success of many companies is largely attributed to the processes and logistics they use. Often, it is the focus on performance and costs that allows a brand to offer lower prices than the competition. Processes also include carefully observing the customer journey, i.e. the customer's shopping path or journey.

Material certificate

although this element marketing mix 7p sounds quite serious, it simply means all the visual aspects of a brand's image, influencing how it is perceived by the customer. It's important that this whole image is consistent - from the company's premises, to the clothing of its employees, to the look of its website. The last P, then, refers to all the physical elements with which consumers will interact with your company and it is these that will build their experience.

Marketing mix 7P on the example of a company

Now that you know what elements make up marketing mix 7P Let us examine how they are applied in practice. Let us do so using the example of a US company that is one of the world's largest producers and marketers of soft drinks and food products.

Product

the analyzed company is mainly known as a producer of a dark soda, but also offers savory snacks, such as corn chips, and other food products - breakfast cereals, cakes and cake mixes.

Price

in principle, the products offered by the concern should be available to everyone. However, expenses related to transportation, ingredients and labor continue to put pressure on the beverage industry to increase prices. Despite this, the company tries to lower or maintain current prices by reducing overheads and redesigning the manufacturing process.

Distribution

products are available at stationary points selling food and beverages. The company's headquarters is in the USA, where approximately 50% of its revenues are generated. The current expansion into international markets is aimed at reducing the dependence of the entity's condition on sales in the United States.

Special offer

advertising has accompanied the brand since its inception. At the beginning, what proved effective in winning over consumers was emphasizing the low price of the drink. For almost 80 years, the company's marketing strategy has portrayed its beverage as part of a lifestyle. After many years of the brand's strategy based on price advantage over the competition, it was decided to reposition the brand. The most promising group of recipients was selected, i.e. young people - not only in age, but also in spirit. The aim of the campaign was to build a generation that is loyal to the brand, open people and with an optimistic attitude towards the world. Famous people from the world of entertainment and celebrities from the front pages of newspapers have become the faces of the brand. The company's promotional strategy is also based on sports, and advertising campaigns feature the most popular names from the world of football.

People

the company supports a corporate culture that values employees and emphasizes diversity in the workplace. It was listed among "Best Companies for Women to Promote Multiculturalism" by Working Mother magazine. She is also recognized for her commitment to sustainable talent development and dedication to Asian workers. She was also listed among the top 20 "Ideal MBA employers" by Fortune magazine.

Processes

the company tries to meet the expectations of consumers in terms of brands' care for the natural environment. In the analyzed case, it is about the ingredients used and the packaging that must meet the highest standards. All production steps take place in a closed, controlled environment which helps to ensure quality throughout the entire process. Particular attention is also paid to the purification of water that is used in the production of beverages. A critical part of the production sequence are quality control audits carried out by specially trained technicians.

Material certificate

the brand is well recognized and its logo is known to millions of people around the world. The website on the web contains comprehensive information about the company, including its rich history and details related to the production process. The brand is a leader in the packaging industry – it helps promote and implement sustainable packaging standards. It follows a clearly defined philosophy: reduce, reuse, recycle, delete and renew.

In summary - what is marketing mix 7P? Marketing components can be seen as the elements that make up a car. In the 1960s, when the marketing mix debuted, all cars were equipped with wheels and an engine. Today, electrically operated windows are standard, not to mention a fuel injector. It is the same with marketing. It changes and evolves. If you are thinking about tuning your previous activities or you are just going to implement them, contact us. We will propose the best and most modern solutions.

The 7P marketing mix concept - where will it be useful?

Marketing mix7P It is useful for companies to set goals, conduct SWOT analysis and carry out a competitive analysis. It is a practical tool for evaluating existing processes to improve individual activities within a company. Concept 7P marketing mix can be used to ask the following questions in each area:

Products/ services: how can you develop products or services?

Prices/ fees: how can you change the pricing model?

Place/ access: what new distribution options are available for customers to familiarize themselves with the product, e.g. online, in-store, on mobile devices, etc.?

Special offer: how to improve it and make it more attractive in paid, owned and earned media channels?

Physical evidence: How do you retain customers, e.g. with well-trained staff, great website?

People: who are your employees and are there skills gaps that should be filled, for example with appropriate training?

Partners: are you looking for new partners and are you managing relations with existing partners well?

Using marketing mix7P as a model for conducting a marketing audit, pay attention to every P. It is not worth ignoring any area that can be improved.

Marketing 7P - processes that determine success

Since it was formulated in the mid-20th century, every aspect of the amazing little acronym that is the marketing mix 7P, brings you one step closer to success. How? By analysing and thus optimising your business in terms of every 'P' of the marketing mix. By improving your business in all these areas, you can ensure that your marketing strategy is as concrete as possible. This is because it ensures employee satisfaction, customer satisfaction and smooth business operations. An effectively streamlined marketing strategy also engages and retains consumers. It meets and achieves your objectives and develops your brand to its maximum potential.

Formula The 7Ps in the marketing mix is something that should accompany you continuously once you have developed your marketing strategy. It should be used to continuously evaluate your business activities because products, markets, customers and their needs change rapidly. Concept 7P marketing mix applied regularly means keeping your hand on the pulse. It's all about making sure you're always on the right track and achieving the maximum possible results in a turbulent market.

The 7P marketing mix concept and campaign planning

Anyone working at a strategic level in marketing should be familiar with all seven points of the marketing mix. For what purpose? Whether to use as a basis for testing and formulating ideas or simply to deepen the understanding of marketing theory. First and foremost marketing mix 7P and its tools can help you differentiate between instinct-driven and process-driven marketing. In most cases, this will mean greater success for your marketing projects. A huge advantage of using 7The P in campaign planning is that it helps to do a thorough job.

If any of the 7P is not carefully planned, the project is bound to suffer. Methodically reviewing each P is a great safeguard against strategic mistakes. As well as helping to ensure you have the right marketing mix, the 7 P's can also help you assess why unsuccessful projects have failed. Marketing mix 7P, examining each of its areas in turn, will help get to the root of the problem.

The role of price in the marketing mix 7P

Price is usually the element that most businesses believe is the greatest. This is the amount customers pay - or are willing to pay - for a product or service. It includes factors such as payment methods, financing / credit terms, rebates, price match, referral bonuses, affiliate payments, loyalty rebates, free trials, subscription options, etc. For a business to be profitable, the price must lead to profit. In fact, price is a seemingly simple way to fuel growth as even an 1% increase in price can increase profits by an average of 11%. However, many companies still do not optimally price their products.

Starbucks is definitely not in this group. His approach to pricing gives an insightful look at how a business can grow and operate profitably all the time. Knowing that its customers are not price sensitive, Starbucks raises them successively but in small steps. This is an excellent example of how a company can constantly raise prices, toward the highest amount that customers are willing to pay, but which will not deter them from purchasing.

Does the 7P marketing mix fit every industry?

Marketing mix 7P is a tool that can be successfully adapted to different business sectors. Its flexibility means that both service and manufacturing companies can effectively implement a 7P marketing in their strategies. The key is to adjust the different elements accordingly 7P of marketing to the specific industry and customer expectations. For example, in the service sector, particular emphasis is placed on People (people) and Process (process), while in the manufacturing sector Product (product) and Price (price) may play a key role. With this approach, marketing mix 7P is becoming a versatile tool to support the development of businesses in different sectors.

How to measure the effectiveness of a 7P marketing mix strategy?

Evaluating the effectiveness of the strategy marketing mix 7P requires the use of appropriate indicators and analytical tools. The monitoring of key performance indicators (KPIs) makes it possible to assess how the various elements of the 7P marketing influence the achievement of business goals. Analysis of data such as customer satisfaction, service delivery times or sales process efficiency provides valuable feedback. Regular market research and analysis of customer feedback help to identify areas for optimisation within the 7P marketing. This allows companies to dynamically adapt their operations, increasing the effectiveness of the strategy implemented marketing mix 7P.

How does 7P marketing support personal branding?

In the context of personal branding, marketing mix 7P offers a comprehensive approach to creating a consistent and authentic image. The Product element refers to the unique qualities and values that a person wishes to communicate. Price symbolises the value he represents and Place indicates the channels through which he reaches his audience. Promotion includes strategies for communicating and promoting one's brand. Additional elements 7P marketingsuch as People, Process and Physical Evidence, help to build relationships, manage experiences and create tangible evidence of professionalism. Professional marketing agency can support those building their personal brand by developing a strategy marketing mix 7P tailored to their unique characteristics and values.

The 7P formula in the marketing mix is not everything

Now that you know how marketing mix 7P can help you improve your marketing strategies and keep your brand at the top, don't think that's the end of it. It turns out that the formula The 7Ps in the marketing mix is an open-ended collection. There is talk of the existence of an ... eighth 'P', which would be the final piece of the puzzle. It enriches the 7P marketing, the processes involved, o P as productivity. This area is responsible for your ability to deliver to your customers what you promised. It answers questions about whether they are satisfied. Are you offering them the value they expected? "Productivity" also encompasses issues such as quality, how you compete in the marketplace and whether your targets are being met, including financial targets. All your marketing activities must be aligned with your marketing objectives. But the importance of the marketing mix goes beyond this. By examining the individual P's, you can identify the lever - the single distinctive element - that will drive your business forward.

The benefits of marketing mix analysis can make all the difference when it comes to growing your business. With a marketing mix model in hand, you can start thinking about how to apply the 7P. Consider each element - product, price, venue, promotion, people, processes and physical evidence - and how your company approaches each. What about your competitors' approaches? Can you spot opportunities to apply any of the 7P in other ways to gain an advantage over him?

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