Question
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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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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