Of
Marketing
BY
INDEX
WHAT IS MARKETING G?
7 P’S OF MARKETING
MEANING AND
IMPORTANCE OF 7 P’s OF
MARKETING
CONCLUSION
WHAT IS MARKETING
PACKAGING
PRICE
POSITIONING
7 P’s OF
MARKETING PLACE
PEOPLE PROMOTION
Product: The product is the primary – though not the only –
component of the 7 Ps of the marketing mix. Marketing consultants
will consider carefully which features of the product are most likely
to appeal to its target market, as well as taking into account factors
such as the life span of the product, and its potential for
diversification and development.
Price: The price that is set for a product not only determines
the amount of profit the business will be able to make from it
(and therefore how many units will need to be sold), but also
affects the value of the product as perceived by the consumer.
Many consumers will use the product’s price as a means of
judging its quality, and most will compare the price with that of
similar products before deciding which to purchase.
Place: Products are not only sold in shops – they may
also be sold door-to-door, online, or in trade fairs or
markets.
Promotion:
This is an
umbrella term,
covering all the
media by which a
business informs
customers about
its product –
including
advertising, public
relations and sales
promotion.
People: wing the customer is the linchpin of a
success marketing strategy – without accurate
customer profiling, none of the other 7 Ps of
marketing mix can be correctly channeled, and the
product may well fail to sell.
Positioning: One of the most important of the 7 Ps of marketing
mix, positioning refers to a product’s status in relation to the
wider market, particularly how it lines up against competitors.
Packaging: This refers not just to
the way in which a product is
wrapped, but also to its overall
presentation, and the way in which
its physical arrangement is
designed to attract the customer.
CONCLUSION