What is the marketing mix and 7p’s of marketing?

 

The classic marketing mix was established by professor James Culliton in 1948 and then expanded by Jerome McCarthy. at the beginning includes product, price, placement, and promotion. Then the theory evolved into Seven P's of marketing that includes people, packaging and Process.

We will go over the 7 P's of online marketing, which models and expects every aspect of a marketing mix to be online and uses digital technologies to create a marketing mix for modern businesses. Understanding every aspect of your marketing process allows us to create better, more functional, and more profitable businesses online, which is another advantage of combining an online marketing mix into your business model.

First, we'll go over the traditional marketing mix. Then we'll look at each of the P's individually through the lens of online marketing to see how they can help an online business model.

What exactly is a marketing mix?

A marketing mix is a collection of marketing tools that cover a variety of topics and can be combined to form a comprehensive strategy. The term refers to a classification that began with the four Ps: product, price, placement, and promotion, and has since grown to include product, price, promotion, place, people, packaging, and process.

When the marketing mix is used as a framework for business and marketing decisions, appropriate strategies are developed that include:

●      Effective

●      increases marketplace competitiveness.

●      strengthens the business while minimizing its weaknesses.

●      boost team collaboration.

●      A company's adaptability and innovation

1.Product (or Services)

Your customer is only concerned with what your product or service can do for them. As a result, make it a priority to make your product the best it can be, and optimize your product lines accordingly. This strategy is known as "product-led marketing." Product considerations in a marketing mix include every aspect of what you're trying to sell. This includes the following:

●      Design

●      Packaging

●      Quality

●      Features

●      Market Positioning

●      Option

2.Price

A pricing model takes into account numerous factors. Price a product higher than competitors' to give the impression of a higher-quality offering. Price a product similarly to competitors, then highlight features or benefits that other brands lack. To break into a crowded market or attract value-conscious customers, price a product lower than its competitors. Plan to increase the price once the brand is established or lower it to highlight the value of a new model.

Increase the base price to make bundles or promotions more appealing. Pricing is a complicated subject, but you want to make sure your price is competitive while also providing value to your customers.

     3.Promotion

Start marketing your product once you've decided what you're selling and how much you'll charge. You can advertise your goods or services in a number of ways online, and the tactics you use will depend on your objectives and target market. Content marketing, search engine optimization, social media marketing, and pay-per-click advertising are a few typical promotional tactics.

 4.Place

Make sure your product or service is accessible where your clients are looking for it in order for them to be able to buy it. This means having a user-friendly website with good navigation and an eCommerce platform that works with the preferred payment methods of your target market .If your customers also shop on sites like Amazon, eBay, and Alibaba, you should make sure your product is featured there as well. Wherever and however you need to sell, do so to reduce unneeded stress.

When it comes to location, consider the following:

●      Where will customers look for your product?

●      Will they be required to hold it?

●      Will marketing directly to customers from your own e-commerce website result in more sales, or will buyers look for you on third-party marketplaces?

●      Do you want to talk to your customers as they buy, or do you want a third party to handle customer service issues?

   5.People

You must take into account the users of your product or service in this step. This covers the people promoting and selling your goods on your behalf as well as your target market .Before you promote your product, it is crucial to have a clear understanding of your target demographic and what they require. And after you start promoting your product, it's crucial to keep track of how users are responding so you can make any necessary improvements.

         Here's what you can do to ensure your staff has the desired effect on your customers:

●      Improve your marketers' abilities so that they can carry out your marketing mix strategy.

●      Consider the company culture and brand personality.

●      Employ experts to design and develop your products and services.

●      Concentrate on customer relationship management, or CRM, which fosters genuine connections and inspires personal loyalty.

6.Process

The process step ensures that your product or service is delivered quickly and efficiently to your customers. This involves a simple and quick checkout procedure as well as a strong customer support system to handle any potential problems. Another crucial component is having a system in place for delivering your product and fulfilling orders.

Consider the following processes:

●      Are your main distribution channel's logistics cost-effective?

●      How are your deliveries and scheduling going?

●      Will your third-party retailers run out of stock during critical periods?

●      Do you have enough employees to cover peak periods?

●      Do your products ship reliably from your website?

7.Packaging

In a crowded marketplace, a company's packaging attracts new buyers and reinforces value to returning customers. Here are some suggestions for making your packaging work harder for you:

●      Design for uniqueness. A good design makes it easier for people to recognise your brand at a quick glance and can also highlight specific features of your product. For example, if you own a mobile company, you can label different types with different colors on the packaging.

●      provide useful information. Packaging is an excellent medium for product education or brand encouragement. To surprise and delight your customers, include clear guidelines or an unexpected element.

●      Increase the value. Exceed your users' expectations by providing them with well-designed, branded extras they can use, such as a free toothbrush from their dentist, a free estimate from a roofer, or a free styling guide from their hairdresser.

Vitez is One of the best marketing company in Calicut, Kerala that combines creativity and viability . We provide organisations with online and offline promotional consulting services. PPC (Google Ads), SEO (Search Engine Optimization), SEM (Search Engine Marketing), SMM (Social Media Marketing), AdSense, Complete Digital Marketing, website design and development,  Domain Registration, Web Hosting, Content Management System, and other IT related projects.