The 7P in Marketing are the levers for business development, especially in the context of the Covid-19 epidemic. We invite you to Life News – Business Life News to find out through the following article.
What is the 7P Model?
7P Marketing is simply understood as a marketing strategy model consisting of many different elements. This is a useful tool to help bring products to consumers quickly. It plays an important role in creating business success of businesses and is widely used by agencies.
Combining the traditional model with modern new elements, 7P quickly showed its role. Businesses can create credibility for their brand, accurately reach potential customers. At the same time, building a competitive strategy to affirm its position in the market.
What are the benefits of businesses when effectively and correctly applying 7Ps? That is the business that will survive for a long time and develop sustainably in the fierce market. Businesses will quickly adapt and change in accordance with the external environment.
Moreover, 7P marketing also helps businesses identify the right customers. Through consumer search, businesses will come up with new products. Or improve the quality of products and services to meet consumer needs.
What elements does the 7P marketing model include?
1. Product
This is a factor ranked first because it directly determines the choice of customers. No one will choose a product that they don’t need or that doesn’t meet a feature need.
Therefore, units need to find out what customers want about the product. Then perfect and improve product quality to best meet these requirements, increase revenue.
2. Price
To be able to compete effectively with competitors, increase revenue for the unit, appropriate pricing is extremely important. So what is the role of Price in the 7P model?
It is the only factor that generates revenue for the business, sometimes you don’t need to set low prices to attract customers.
But need to balance to make a profit for the business and be able to compete with other competitors. You can base on market price segments, production costs to set prices for products and services.
3. Place
An equally important factor in 7P is the place to display, introduce and exchange products. Products need to be available at the right distribution to bring in the best revenue.
4. Promotion
So that customers can know the products and services provided by the business. You need to carry out promotion through communication channels, branding, promotion strategies…
All messages must be consistent, creating an attraction for customers to choose your product.
5. People
A business should ensure the best “Customer Care”. The attitude of everyone in the business will directly determine customer satisfaction.
This is the factor that directly affects the brand of the business in terms of products and services provided. Therefore, all employees need to be professionally trained to bring the best experience to customers.
6. Process
Quick working process, quick time and right to the agreement are always appreciated.
The service experience, the waiting process to buy the product, the help of the staff and the consulting attitude. All of which will affect customer satisfaction about the business.
7. Physical evidence
What is the physical evidence in the 7P model? It is the interaction of customers with businesses about products and services that they experience. You should always make sure this process is most synchronized and under strict management.
Above is the information to help you understand what the 7P marketing model is. Hopefully this information will help your business to build an effective business, competitive and development strategy.
Source: https://doisongnews.com/7p-trong-marketing-don-bay-phat-trien-doanh-nghiep/
