The 7 Ps of Marketing Mix Infographic
The 7Ps of Marketing Mix is one of the best marketing theory that I never ever heard before.
The modern marketing methods are rapidly changing.
If you want to develop your marketing strategy/plan without missing anything you want to do for your business, then what do you do?
Here is the great marketing formula with 7ps that most professional marketers use. Product, price, promotion, place, packaging, positioning, and people are 7ps in it.
According to a poll on Smart Insights, It is one of the top 3 classic marketing models.
In this article, we are going to cover how to create an awesome marketing plan with 7ps of marketing and how to boost your sales…Further, we include hidden tips and tricks behind this formula that we use to market our own business.
The only thing you want to do is apply this formula again and again to your business according to this guide. Then identify the issues and solve them…
7Ps of Marketing mix helps you to identify you and your business on the right track…
With this formula, I’m sure you can make your marketing plan creating process easy more than the traditional way…
According to the 7Ps of marketing the first p is,
Do you know, what are the things that customers expect from your product?
First, clearly identify the purpose of your product.
Then turn your product into the best product that serves the customer’s purpose.
Here is an example, if you go to the book shop to buy a pen, there are so many pens…Gel pens, Ballpoint pens, Marker pens, etc. Every pen has a specific purpose, such as write on paper, write on the whiteboard. Clearly identify the purpose of your product too…
The second thing is, most of the old companies already offer products and services, but most of them are not optimized to the modern market…
How to optimize them to the modern market?
Here is the way that we do…
List all the products/services you/your company offer…
then think would your product or service can performe with the modern market…
If your answer is yes it is great…if not, develop it and bring it to modern market again…
Finally, We again say, without developed modern product you can’t performe with your competitors…
If you want to go more than your competitor, make sure your product will serve customers better than your competitor.
Think why most established famous companies give upgrade to their consumers…
as an example, giant smartphone companies like Apple and Samsung release their upgraded mobile phones, Softwares every year…Because why? they want to go more than each other…
They didn’t make a perfect product when they start, but they continue to research and make upgrades as 1.0,2.0,2.1 to their products continuously…
If you make your product as I mention above It’s awesome…you completed the hardest part…
Now you have optimized modern products that do consumer’s purpose to sell…
The next step is to add correct value to your product because price is one of the most critical factors in marketing…
To survive in a fast-changing competitive marketplace, you want to identify how to calculate price to your product or service…
Determine the cost of our product based on the production cost, promotional expenses and the other expenses that you spent on your business….
Always keep track of your competitors’ prices and their promotions in the current market…
Depending on the current market, some times you may have to lower your prices and sometimes, raise your prices…
Here are some strategies that we use to compete with competitors’ prices…
1. Combine products or services together and make special offers
2. Offer attractive discounts.
3. Give free additional items with your product.
Now you have great products and critical price. The next step is you want a way to tell it to your target customers…
In this step, we want to identify how we getting closer to our targeting customers…
In today the companies in every industry, research and experiment different advertising methods to promote sell their products and services. as a result of it, the market is more Competitive…
Now old promotion methods are not working for most competitive businesses. you want to develop new strategies to promote your products…
Higher promotion strategies attract more customers to your product.
You can hire experienced companies, collaborate with social influencers to promote your products… Additionally, you can use traditional methods like advertising on TV/newspapers, direct mailing.
Tip
In today Social media is a great tool to promote your businesses…
collaborate with Social media influencers according to your niche and promote your item with them…today in 2020 it is still working…
Now you have a product, price and already we covered how to do promotion and make peoples aware of your product….Now you want a place to sell your product…
It is the place where consumers and salespeople connect with each other…
Did you already have a place to sell your product?
Be careful to choose the correct place…
There are many places,
Online stores
Retail stores
Wholesale stores
Trade shows are some of them…
You can select multiple sales places at once that I mention above…
But I recommend choose one place first If you are new to the business(in startup)…then develop it well and then move to another place and expand your business….
In this era, online stores are one of the perfect place to sell, because you don’t need huge capital to invest in the beginning…
Make your own online store with Shopify….get your free trial here…they provide all the technical tools that you want to build your business.
You can build your business in the world’s largest online eCommerce platforms like Amazon,eBay too…
The other best way that you can use is connecting to delivery companies and Deliver your products to retail business partners…
Packaging is simply the way your product or service looks outside…
It is your own wrap To identify your product from other products and it makes the first impression …
seriously not only for product, Your company’s officers, employees the business place, and everything that conflicts with your customers need to wrap with attractive packaging…
Make your product, business place, employees, brochures, business websites pleasant to your customers…
Make them feel free to come back again.
This is an aspect that not many marketing beginners care about…
Did you know what is the position that you target?
Depending on the income of people, the goods they consume are different …
Consider, for example, mainly there are 3 types of people base on income…Rich, middle class, poor…
Identify which level of consumers that you target…
When people are rich with money, they tend to use expensive luxury items…
It creates a gap between the product as Ordinary, Luxury, high luxury
Think about normal cars, luxury cars/supercars to get an idea about positioning…
They target different positions…
What is your position that you target… poor, middle class or rich?
Is your product Ordinary, Luxury or high luxury?
This is also one of the factors that determine the price of a product…
In this last step, we are going to cover how people affect your marketing…The reason is that we have manufactured products to human uses(directly or indirectly)
Identify correct consumers that you want to market your product using above P’s that I mention…
what is the ideal impression that you want to build in the hearts and minds of your customers about your product?
First, you want to identify it clearly…then think how you do it…
The reason is, that the existence of your product depends on how your customers communicate with another about your product.
This is the reason behind I suggest you to use social media influencers in above P’s…
Example- think, You want to sell fitness product..then go to Youtube, Facebook or whatever social media you want. Research top social media influencers according to fitness niche…collaborate with them and ask to promote your product with them…then his or her believers will become your customers
Personally, I know this method is working well right now in 2020…
Here we already covered how to create an awesome marketing plan using the 7ps of marketing mix(product, price, promotion, place, packaging, positioning, and people)
Now you have a great idea about 7Ps and my tips and tricks that I use to build my own businesses behind the marketing mix that your competitors don’t know…
Don’t wait…create your own marketing plan awesome with 7Ps tips and tricks that I mention above…
I Wish you to be a great businessman…Just wish me too…
Share your email with me to keep in touch with my articles.
bye…See you in the next article…
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