7p's

• What model can companies use to set objectives and conduct analysis?

  7Ps model
• What is the purpose of the 7Ps model?

  To evaluate an existing business and marketing mix
• What are the 7Ps of marketing?

  1. Products/Services
  2. Prices/Fees
  3. Place/Access
  4. Promotion
  5. Physical Evidence
  6. Processes
  7. People
  8. Partners
• What does the 'Products/Services' P focus on?

  Developing products or services
• What does the 'Prices/Fees' P address?

  Changing the pricing model
• What does the 'Place/Access' P refer to?

  New distribution options for customers
• What is the focus of the 'Promotion' P?

  Adding or substituting media channels
• What does 'Physical Evidence' refer to in the 7Ps?

  Reassuring customers through tangible elements
• What does the 'Processes' P evaluate?

  Internal process barriers to customer value
• What does the 'People' P focus on?

  Identifying skills gaps among staff
• What does the 'Partners' P assess?

  Seeking and managing business partners
• How does the 7Ps model assist in competitive analysis?

  By evaluating marketing mix elements