Week 8

• Marketing mix


  • A set of controllable and connected variables that a company gather to satisfy a customer better than its competitor
  • "Ps" in marketing
• 7Ps of marketing mix

  1. Product
  2. Price
  3. Place
  4. Promotion
  5. People
  6. Process
  7. Physical evidence
• Product


  • What is being offered
  • Any goods or services that are produced to meet the consumers' wants, taste, and preference
  • Features design quality brand and variations
• Price


  • How much does it cost
  • The value of money in exchanging for a product or service
• Pricing strategies

  • Penetration (low price to attract customers)
  • Premium (high price for luxury)
  • Discount (sales and promotions)
• Place


  • Where to sell
  • The location or channels where customers can buy the product
  • Can be physical stores, online platforms, or direct sales
• Promotion 


  • How is it marketed
  • Strategies to inform and persuade customers
  • Advertising social media public relations promotional offers
• People


  • Who delivers the service
  • Employees customer service team sales staff who interact with customers
  • Training attitude and behavior of employees impact customer satisfaction
• Process


  • How is the service delivered
  • The steps and procedures involved in delivering a product or service
  • Affects efficiency, customer experience, and consistency
• Physical evidence


  • What proof does the customer have of the product or services
  • The tangible aspects that you assure customers of quality
  • Includes branding packaging online reviews store ambiance and receipts