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Answer Posted / nitiin
some info regarding questions asked by diya
and DIYA plz ckeck if everything's all right
Marketing Mix contained 4 elements: product, price, place
and promotion.
Product:
The product aspects of marketing deal with the
specifications of the actual goods or services, and how it
relates to the end-user's needs and wants. The scope of a
product generally includes supporting elements such as
warranties, guarantees, and support.
Pricing:
This is the process of setting a price for a product,
including discounts. The price need not be monetary - it can
simply be what is exchanged for the product or services,
e.g. time, energy, or attention.
Promotion:
This includes of advertising, sales promotion, publicity,
and personal selling, branding and refers to the various
methods of promoting the product, brand, or company.
Placement (or distribution): refers to how the product gets
to the customer; for example, point-of-sale placement or
retailing. This fourth P has also sometimes been called
Place, referring to the channel by which a product or
service is sold (e.g. online vs. retail), which geographic
region or industry, to which segment (young adults,
families, business people), etc. also referring to how the
environment in which the product is sold in can affect sales.
These four elements are often referred to as the marketing mix
now other 3 P's are
People: Any person coming into contact with customers can
have an impact on overall satisfaction. Whether as part of a
supporting service to a product or involved in a total
service, people are particularly important because, in the
customer's eyes, they are generally inseparable from the
total service . As a result of this, they must be
appropriately trained, well motivated and the right type of
person. Fellow customers are also sometimes referred to
under 'people', as they too can affect the customer's
service experience, (e.g., at a sporting event).
Process: This is the process(es) involved in providing a
service and the behaviour of people, which can be crucial to
customer satisfaction.
Physical evidence: Unlike a product, a service cannot be
experienced before it is delivered, which makes it
intangible. This, therefore, means that potential customers
could perceive greater risk when deciding whether to use a
service. To reduce the feeling of risk, thus improving the
chance for success, it is often vital to offer potential
customers the chance to see what a service would be like.
This is done by providing physical evidence, such as case
studies, testimonials or demonstrations.
which when said together with the 4 P's mentioned earlier
are called as 7 p's.
hope it is clear and in the right manner.
thanks.
Diya please take a look at it
k
cya
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