What are the differences between the 4Ps and 7Ps in the Marketing

The 4Ps in the Marketing Mix refer to Product, Place, Price, and Promotion. These are the basic elements that businesses need to consider when marketing a product or service. On the other hand, the 7Ps is an extended version of the 4Ps and includes three additional elements: People, Process, and Physical Evidence. 'People' refers to the employees involved in every stage of the business, 'Process' refers to the systems and procedures that deliver the product or service to the customer, and 'Physical Evidence' refers to the tangible elements that customers come into contact with that can influence their customer experience.

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Marketing Mix

“Do I understand my customers? Do I address their full experience? Do I have the right talent?” The Marketing Mix concept was developed to address the...

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4Ps in marketing stands for Product, Place, Price and Promotion. Use this slide to introduce and explain the 4P's in detail and while creating your promotion strategy, remember to consider the tactics used by your competitors. 7Ps is an extended, modified version of the 4Ps and stands for People, Process and Physical Evidence on top of Product, Place, Price and Promotion. This slide can be used to elaborate on how 7Ps can improve the overall marketing strategy. Use this slide to list and explain the complete 15Ps of marketing mix: Product, Price, Place, Promotion, Public, Personalization, Packaging, Protection, Positioning, Presentation, Payment, Purse, Pouch, Promise and Principles.

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How does the Marketing Mix concept address the full customer experience?

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The Marketing Mix concept addresses the full customer experience by considering all aspects of the customer's interaction with a product or service. This includes the 4Ps: Product, Place, Price, and Promotion, which cover the product itself, where it's sold, its price, and how it's promoted. The extended 7Ps model adds People, Process, and Physical Evidence, which consider the people involved in providing the service, the processes that deliver it, and the physical evidence that supports it. The comprehensive 15Ps model further expands on these elements to include aspects like public perception, personalization, packaging, protection, positioning, presentation, payment methods, purse (budget), pouch (packaging), promise (brand promise), and principles (company values). Each of these elements plays a part in shaping the customer's overall experience.

What are some tactics to consider when creating a promotion strategy using the Marketing Mix concept?

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When creating a promotion strategy using the Marketing Mix concept, consider the following tactics:

1. Understand your target audience: Know their needs, preferences, and behaviors to tailor your promotional messages effectively.

2. Use a mix of promotional tools: This could include advertising, sales promotions, public relations, and direct marketing.

3. Leverage the power of social media: Social media platforms can be a cost-effective way to reach a large audience.

4. Create engaging content: Content that educates, entertains, or inspires can attract and retain customers.

5. Monitor and adapt: Keep track of your promotional efforts and be ready to adapt your strategy based on the results.

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What are the differences between the 4Ps and 7Ps in the Marketing Mix?

Marketing Mix

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