P’sOf

Marketing

BY –

KISHAN PANCHAL

INDEX

WHAT IS MARKETING ?

7 P’S OF MARKETING

MEANING AND

IMPORTANCE OF 7 P’s OF

MARKETING

CONCLUSION

WHAT IS MARKETING

• Marketing is communicating the value of a product, service or brand to customers, for the purpose of promoting or selling that product, service, or brand.

• Marketing techniques include choosing target markets through market analysis and market segmentation, as well as understanding consumer behavior and advertising a product's value to the customer.

7 P’s OF

MARKETING

PRODUCT

PRICE

PLACE

PROMOTION PEOPLE

POSITIONING

PACKAGING

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: Knowing the customer is the linchpin of a

successful 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

• Traditionally, the marketing mix was developed for the fast moving consumer goods sector, and there were 4 Ps: Product, Price, Promotion, and Place (or distribution).

• As service sectors have become more aware of marketing, this marketing mix has been developed to also include: People, Process and Physical Evidence. Even if you think you only sell a product, so the original 4 Ps will suffice, it can be useful to think how much of a service element there is to your business. Indeed, the goods-service continuum demonstrates that very few products are purely goods and very few purely service.

THANK YOU FOR WATCHING.

KISHAN PANCHAL