It is common for marketers and businesses in general to study the 4Ps of marketing. These include price, product, place, and promotion. As time goes by, these ingredients of the marketing mix were expanded into what is now known as the 7Ps of marketing.
Below are the additional 3Ps to complete this more comprehensive view of marketing:
1. People
We will all agree that the heart of each business is its people. That's because they are the ones who will actually operate the organization towards the attainment of its every objective. Hence, it is of prime importance that each and every individual person who represents the business knows the latter's vision, mission, and goals.
Addedly, they should be well-trained so that each strategy will be properly executed. Remember, whatever your people will say about your business always affect the business' image.
2. Process
One of the most important factors in a successful sale of a product or service is a seamless process. Customers always prefer those options which will provide the utmost convenience and hassle-free transactions.
That's why it is important to define the processes and timelines for each stage in the operations so that you will be able to provide realistic forecasts in terms of the delivery of products and/or services. And most importantly, with everything digital nowadays, businesses should capitalize on the availability of online means.
3. Concrete Evidence
This factor is also referred to as physical evidence. It is your proof that you are actually selling something and that your business is legally existing. You have your website, a location where customers can go to, your physical products and or services, all your correspondences such as magazines, emails, brochures, and all other physical things that will establish the existence of your brand and everything that you do.
At the end of the day, a more comprehensive understanding and marketing strategy will lead to the success of your business. So, make it a habit to take a holistic perspective when doing marketing.
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