Extended marketing mix

7 ps of service marketing mix with examples

Proper processes need to be in place to make sure that service provision capacity is utilized to an optimum degree, to mitigate periods of high or low demand. Heterogeneous — All service experiences are unique. So, you have to make sure that you have a well-tailored process in place to minimize costs. Marketing is a continually evolving discipline and as such can be one that companies find themselves left very much behind the competition if they stand still for too long. Is there an 8th P? A concept of this is branding. The company must take into account what the customer is expecting and needing from the product, then look to meeting those needs and expectations. What began as four Ps has evolved into seven, but more on that later. Lauterborn in Consumer Wants and Needs — A company should only sell a product that addresses consumer demand. Since the service cannot be owned and is consumed at the point of delivery, the process through which it is delivered, the person who delivers it, and the environment in which it is delivered become an indicator of whether a customer leaves satisfied and if they will want to return. Public relations, on the other hand, are communications that are typically not paid for.

This was remedied when Booms and Bitner proposed their extension to create the services marketing mix that we see today. These four Ps are product, price, promotion, and place distribution. The Traditional Elements 1.

People in marketing mix

The praise received by the volunteers games makers for the London Olympics and Paralympics demonstrates the powerful effect people can create during service delivery. Place — The product should be available from where your target consumer finds it easiest to shop. Customers will make judgments about the organisation based on the physical evidence. Will you reach your potential audience and buyers through television ads? When is the best time to promote your product? The challenge for marketing is to ensure that the elements of the mix work together to achieve the marketing objectives. Your combination of promotional strategies and how you go about promotion will depend on your budget, the message you want to communicate, and the target market you have defined already in previous steps. This came from the old Services Marketing Mix and is folded in to the Extended Marketing Mix by some marketers so what does it mean? Share on Facebook Share on Twitter Share on Linkedin Share on Google Share by email The extended marketing mix 7P's is the combination of seven elements of marketing that aim to work together to achieve the objectives of a marketing strategy. These were the governments, regulatory bodies, trade associations and even other interested groups who had power over the intended market.

Cost of conscience or opportunity cost is also part of the cost of product ownership. Place — The product should be available from where your target consumer finds it easiest to shop. The ultimate goal of business is to make profits and this is a surefire, proven way to achieve this goal.

extended marketing mix pdf

Will you reach your potential audience and buyers through television ads? Word of mouth is an informal communication about the benefits of the product by satisfied customers and ordinary individuals.

extended marketing mix process

Convenience — The product should be readily available to the consumers. The 15Ps Model The longest extension to the original model was proposed by Baumgartner in and includes people, politics, public relations, probe, partition, prioritize, position, profit, plan, performance, and positive implementations.

marketing mix 7p

These 7 elements are: product; price; place; promotion; people; process and physical.

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Extended Marketing Mix