Before a product or service goes on sale, any possible production, price, promotion, and distribution issues need to be fixed. The product must also live up to the target market's expectations. You can’t launch your product or service just like that – it takes months of preparations and thorough research. In response to these challenges, several decades ago, the 4P (product, price, place, promotion) marketing approach was created.

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However, no solution is timeless. As the market began to change and expand, some changes needed to be introduced. And they were, in the form of 3 additional Ps: people, physical evidence, and process.

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What’s up with all the Ps? And what exactly is 7P marketing mix? Join me to find out.

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What Is 7P Marketing Mix?

Before jumping straight to the definition of the marketing mix 7P, let's focus on the marketing mix itself for a moment. Marketing mix is a range of related solutions that a given company uses, hoping to achieve specific results and goals. The marketing mix collects specific activities that allow you to effectively advertise your products or services and enable you to influence purchasing decisions made by customers.

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The definition of 7P marketing stems from the 4P formula, which appeared first. It was developed in the 1960s by Professor E. J. McCarthy, distinguishing four basic elements:

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• product,
• price,
• place,
• promotion.

And just like this, we can smoothly move on to the marketing mix 7P, i.e. the extended 4P formula. The world of sales was changing, trying to respond to the needs and expectations of consumers and growing competition, which is why three more elements of the marketing mix were added:

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• people,
• physical evidence,
• process.

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These seven elements are used to create a marketing plan that effectively promotes a product or service to potential customers.

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How Does It Work?

The goal of the 7Ps is to create a marketing strategy that effectively targets the right market, with the right product, at the right price, in the right place, using the right promotion, and delivered through the right people and processes, with the right physical evidence.

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The Marketing Mix 7P is founded on a thorough examination of the organization's financial resources and the state of the market. It also entails a thorough study on the product, from price determination to market and competitor analysis to distribution and marketing strategies.

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Focusing on satisfying receivers' wants and expectations is one of the main elements affecting the 7P model's efficacy. The current actions are altered in response to them. An approach like this helps the business develop a positive reputation and increases consumer confidence and loyalty.

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This marketing is also aimed at employees, who should feel that they are an important part of the company and contribute to its success.

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The 7 Ps of Marketing Mix

I have already explained what elements make up the 7Ps of marketing, so now it's time to discuss their importance in the context of the entire marketing process.  

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What should you remember about each of the pillars of the marketing mix? Let’s find out.

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Product

The product component of the marketing mix encompasses all parts of the product, including its design, features, packaging, branding, and any extra services. When creating a product, it is important to consider both the needs and wants of the intended market as well as the characteristics and advantages that the product offers. You may also need to think about factors like the product's quality, usefulness, and price when trying to attract potential buyers.

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Price

It refers to the amount of money that a customer must pay to purchase a product or service. The price of a product or service is an important factor that can affect a customer's decision to purchase and it has a huge impact on its success, so you should thoroughly examine your pricing strategy.

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When determining the pricing of a product or service, you need to take into account a variety of elements, including the cost of production, the value that the product offers to customers, the prices of rivals' products, and the target market's willingness to pay.

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Place

It refers to the location where a product is sold, as well as the methods used to distribute the product to customers. In marketing a product, you must consider the most effective ways to get the product to customers. This may include using physical stores, online platforms, or a combination of both.  

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You may also need to assess factors such as the location of their stores, the convenience and accessibility of their distribution channels, and the methods used to deliver products to customers.

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Promotion

Promotion means all activities undertaken in order to reach the widest possible group of potential customers. The rule is simple: the more people you "catch" into your marketing network, the greater the chance that among them there will be someone interested in your offer.

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You can use various methods to communicate with customers and promote a product or service. It includes advertising, sales promotions, public relations, personal selling, and other tactics that are used to reach potential customers and influence their purchasing decisions for your benefit.

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People

7p marketing focuses on two sides of the human factor. The first one is based on people who make up the company at all levels - from production employees to the managerial staff. They represent the organization, have direct contact with customers and B2B partners, are responsible for the quality of the products offered, and ensure the smooth functioning of the company.

The second important link in the 7P model is the recipients. Products should be in line with their needs so that they feel satisfied and want to continue using the company's services in the future. In order to effectively attract customers, you need to ensure the quality of service, and for this, you need qualified staff.

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Process

This P focuses on the analysis of processes related to customer service. It should cover all stages, i.e. arousing interest in a given product, offer presentation, technical support, finalisation of the transaction, and after-sales service (e.g. complaints and returns). Properly conducted processes can translate into a better perception of the brand, which in the future may result in increased customer loyalty.

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In order for the 7P mix to be effective, you need to carefully consider the scope of duties for all of your employees. In a large company, it can be spread over several people who, depending on the department, deal with customer acquisition, consulting, invoicing, signing contracts, completing and delivering orders. In smaller enterprises, one employee often supervises several processes.  

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To succeed, you must thoroughly analyse the situation in your organisation to choose processes that work best for you.

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Physical evidence

Physical evidence focuses on the "tangible" sides of the product and the sales process. Most people are visualizers, which is why the visual qualities of the products or services sold is significant for purchasing decisions.  

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Tangible evidence includes, among others, product packaging, the appearance of the website, as well as the visual identification of the brand and the looks of your company’s headquarters.

7P Marketing Mix - Conclusion

The 7P marketing mix theory has many applications because it is a very effective marketing strategy in businesses across a wide range of industries. Why? First and foremost because marketing procedures are approached in a thorough and diversified manner.  

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The 7P concept enables the business to assess its actions in relation to the major marketing pillars and create a comprehensive strategy. Each of the seven Ps must, however, work together as a unit because each component of the notion has a significant meaning.