The marketing mix 7Ps is a concept established by E. Jerome McCarthy in the 1960s, which refers to a selection of marketing tools that can be combined to create a comprehensive plan. The 7Ps of marketing are:
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Product: This refers to the service or product being sold and should be at the center of every element of the marketing mix. It involves addressing questions such as what problem or issue the product solves for customers and why it is the best one to solve it.
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Price: This refers to the cost of the product or service and should be set in a way that is competitive and profitable.
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Promotion: This refers to the communication of messages to customers at different stages of the buyer journey to generate awareness, interest, desire, or action.
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Place: This refers to the distribution channels used to get the product or service to the end customer, including storage and transportation.
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People: This refers to the employees involved in the delivery of the product or service and their skills, knowledge, and attitude.
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Packaging: This refers to the physical appearance of the product or service, including branding, packaging, and display.
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Process: This refers to the processes involved in delivering the product or service, including logistics, customer service, and after-sales support.
The 7Ps of marketing are a guide to drafting and creating an outreach campaign for any given commercial market. Understanding the 7Ps of marketing can help businesses identify and establish their own marketing mix and bring focus to their marketing activities by setting realistic, achievable priorities within their budget.