What are the 7 Ps of marketing mix?

What are the 7 Ps of marketing mix?

The 7 Ps of the marketing mix are :

1- Product : This refers to the actual goods or services being offered to the market. It involves aspects such as product design, features, quality, branding, and packaging.

2- Price : This is the amount of money customers have to pay to acquire the product or service. Pricing strategies can vary, including penetration pricing, skimming pricing, and value-based pricing.

3- Place : Also known as distribution, this P refers to the channels and methods used to make the product or service available to customers. It involves decisions about distribution channels, logistics, warehousing, and retail locations.

4- Promotion : This includes all the activities undertaken to communicate the value of the product or service to the target market. It encompasses advertising, sales promotions, public relations, direct marketing, and personal selling.

5- People : This represents the individuals involved in delivering the product or service to customers, including employees, sales representatives, customer service agents, and any other personnel who interact with customers.

6- Process : This refers to the procedures, systems, and workflows involved in delivering the product or service to customers. It encompasses everything from order processing and payment methods to customer service procedures and returns processes.

7- Physical Evidence : This refers to the tangible elements that customers encounter when interacting with the product or service, as well as the physical environment in which the service is delivered. It includes elements such as store layout, packaging, branding, and the appearance of service personnel.