Business Chapter 21 Marketing Mix; 7Ps

Product
a Business must identify the right product to make it both appealing and distinctive. Needs to fully understand its market and its competitors.
Price
After ‘product’ a business will have to set the price correctly. Low Prices don’t always mean easy sales.
Promotion
Marketing managers have to identify the right way to create the right image for the product and present it to the target audience.
Place
The Place in which your product is sold.
People
Staff and their control over the reputation of your brand. Training is important.
Process
Every practical aspect of the customers experience, from contacting to how good the signs are within your business, short wait times. It is possible
Physical Enviroment
The Physical environment of the place must be appealing, online website must be simple and east, phone staff must be super polite.
How Its used.
Develops new business ideas about how and where to market a product or service. A successful Mix is needed.
The Influences on the Marketing mix
The focus of the Marketing mix will vary depending upon the nature of the market. The Main issue is are the goods;
Regular Purchases (Product Promotion and Price.)

Impulse Purchases (Place and Promotion.)
Focus on Branding and Promotion.

Emergency Purchase (Place and Product)

Effects of changes in elements of the Mix.
Changes in the marketing mix may be out of control of the marketing department, So success requires full co-operation from the operations and HR departments.
Marketing Mix B2C and B2B
Consumer
convenience goods, inexpensive, widely available.
Shopping Goods, Expensive, Rarely replaced.
Specialty Goods, One Off purchases, require serious purchasing effort.
Business
Sell to other Businesses