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The seven Ps of marketing are the fundamentals that make your marketing plan work. The framework originally had four Ps — product, place, price, and promotion — but was expanded in the late 1980s.
The marketing mix is the set of controllable elements or variables that a company uses to influence and meet the needs of its target customers in the most effective and efficient way possible. These variables are often grouped into four key components, often referred to as the "Four Ps of Marketing." These four P's are:
The 7 P's of B2B marketing are: product, price, place, promotion, people, process, and physical evidence. [33] Some of the trends in B2B marketing include content such as podcasts, videos, and social media marketing campaigns. [33] Examples of products sold through B2B marketing include: Major equipment; Accessory equipment; Raw materials ...
The extended marketing mix is used in the marketing of services, ideas and customer experiences and typically refers to a model of 7 Ps and includes the original 4 Ps plus process, physical evidence and people. Some texts use a model of 8 Ps and include performance level (service quality) as an 8th P.
MC are made up of the marketing mix which is made up of the 4 Ps: Price, Promotion, Place and Product, for a business selling goods, and made up of 7 Ps: Price, Promotion, Place, Product, People, Physical evidence and Process, for a service-based business. [2]
The model of 7 Ps has gained widespread acceptance, to the extent that some theorists have argued for the 7 Ps framework proposed by Booms and Bitner to be applied to products as a replacement for the four Ps. [45] The extended marketing mix for services is more than the simple addition of three extra Ps.
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The retail marketing mix typically consists of six broad decision layers including product decisions, place decisions, promotion, price, personnel and presentation (also known as physical evidence). The retail mix is loosely based on the marketing mix , but has been expanded and modified in line with the unique needs of the retail context.