The marketing mix Flashcards
What are the 7 Ps?
- Product
- Place
- Price
- Promotion
- People
- Process
- Physical evidence
Define product.
The specific details of the product:
What makes it different?
What type of value does it have?
Who is the target audience?
What are its features?
Does it have a warranty?
What is its lifespan?
What is part of the core product?
How does the product meet the customer’s needs or wants?
Highlight the product’s features, and the USP.
Define place.
The details relating to where you sell your product or service. Place is where the person goes to buy the product.
Who is your audience?
Do you have a retail outlet?
Do you have an e-commerce site?
Do you sell through social media?
Do you use influencers to sell?
Which third-party sites do you use to reach your customer to sell?
Are you using Facebook Marketplace? Tiktok? Third part sites like Booking.com?
Define price.
The details relating to the price of your product or service:
How much does it cost to make?
How much does it sell for?
Is your price realistic?
Is you price value for money, a luxury price or cheap?
What are your margins?
What are your overheads?
What is the cost-benefit to the customer? Eg. does the benefit of getting it online justify a slightly higher price?
Define promotion.
Details relating to the promotion of your product or service:
Which channels do you use?
Which media do you use?
How often do you use each channel?
What content topics do you use?
How successful are you?
Who are your target audiences?
Define people.
Details relating to the employees of your product or service:
How do your brand values apply to the customer service?
When do you use technology and when do you use people?
What is the feedback on your customer service?
How do you use FAQs?
What is your staff training like?
Are you outsourcing feedback?
Are you available whenever people try to reach you?
Define process.
How efficient is your process?
What processes are used?
What kind of delivery do you use?
How do you use technology?
How many steps does your process take?
How easy is it for the customer to use?
How many steps does it take for the customer to buy your product?
How fast is your website?
What devices are people viewing it from and is it optimised for them?
Can someone make a payment from a different country?
Define physical evidence.
What will the customers see when interacting with your business?
Reviews, inclusing those on third party sites like Trust Pilot.
Advocacy on social media.
Can the website be found easily?
UX? (User experience)
All the branding that people see around them.
