Your marketing mix is made up of the 7’P’s. It is how you mix these elements together into a coordinated programme that will attract customers to you. The trick is to integrate them together in a way that sends the same cohesive and compelling message.
For example, if your strategy is based on a premium product then each of your ‘P’s needs to communicate ‘premium’. This means a premium price, premium packaging, premium service, physical facilities that are fitting of a premium service etc.
Now lets delve into each aspect of the marketing mix in greater detail. If you own your own business, or work for a company, try to think about how these elements come together in your own marketing activities.
This is anything and everything that relates to how you price your product or service. Consider things like payment schemes, discounting, adding value with additional services or products, interest free terms, fixed fees, hourly rate, membership pricing, credit card payment services, monthly payments, EFTPOS payment online payments e.g. afterpay etc.
This defines what your product or service is. It includes a definition of product features and benefits, how it is presented, packaged, its warranty, back up service, user guides/tips, what makes it special or different.
It is easier to think of ‘Place’ as ‘Distribution’. This is how the product gets to the customer and how the customer accesses your products. Consider how you sell your product to your customers. Options can be field sales reps, telesales, online shops, retail chains as your nationwide distributors, agents in offshore markets, wholesaling, affiliates, a network of franchisees, local farmers market or shopping market, craft days, through sports clubs to their members, through schools and kindergartens or via a ‘party plan’ such as Tupperware.
Promotion is what most people think of when they refer to marketing. But promotion is only one, very high profile, ‘P’ in your marketing mix. It is how to promote your product and communicate it to your target market that they should buy it! It is the public face of your marketing mix and includes product samples, competitions, publicity in the media, newsletters, social media, websites, brochures, email, signage, displays, promotional events, Google Ads, SEO, joint promotions with other suppliers, sponsorship, television commercials, YouTube videos, billboards, etc.
These are the buildings, vehicles, production facilities, car parking, technology that you need to produce and market your product or service. They are important when it comes to interacting with your customers. Having a welcoming and professional reception area for greeting clients, a clean, tidy and inviting retail store, a well presented vehicle, and modern equipment, may all be important in terms of impressing your customers. This makes them feel comfortable and gives them a sense of confidence in your ability to meet their needs.
Often overlooked, the process part of your mix can be crucial to delivering a great product in a reliable manner. Your customer comes to rely on your process and it is an important part of building a good reputation. Processes are the internal methods for getting your products and services sold and delivered. They include things like warranty procedures, the regularity and structure around communicating with your customers, using your customer database, sales processes, the follow up process, feedback processes, and processes for getting referrals.
These are the people involved in the delivery and sales of your product or service to your customers. It includes their skills, training, customer service, their attitude and sales ability. People can make a huge difference between making a sale and not making a sale.