When you hear the word “marketing,” what’s the first thing that comes to mind? If your answer is “advertising” or “social media,” you’re not alone. Many new entrepreneurs equate marketing with an Instagram presence, commercials or giant billboards. But here’s the thing: marketing is so much more than that! In fact, advertising is just one small slice of a much bigger pie.
Let’s talk about the 7Ps of Marketing— a framework that you can use to effectively market your business. Understanding the promotional mix means you are considering every element of getting your unique brand noticed while effectively promoting your business.
1. Product You have got something to sell, right? But have you really defined what makes it special? Understanding your product means knowing its features, benefits, and what sets it apart from the competition. It also means being ready to tweak and improve it based on customer feedback.
Pro Tip: Your product is not just the physical item or service; it’s also the experience it delivers. Think quality, design, and the value it provides.
2. Price Price is not just about covering your costs and tacking on a profit. It’s a strategic decision that can position your brand in the market. Are you a luxury offering or a budget-friendly option? Pricing affects how customers perceive you, and it influences their buying behavior.
Remember: Discounts and pricing models (like subscription plans) also fall under this category.
3. Place This is about where and how your product is available to your customers. Are you focusing on an online-only strategy, or do you have a physical storefront? Maybe you want to work with distributors? How accessible your product is can make or break your sales.
4. Promotion Here’s where advertising fits in, but it’s only one component of promotion. Promotion includes everything from PR, email marketing, and social media, to sales promotions and events. A strong promotional strategy makes sure the right people know about your product, in the right way, at the right time.
Hot Tip: Don’t be a one-trick pony. Relying solely on social media might limit your audience reach. Diversify!
5. People People are your brand ambassadors, whether they’re your employees, customers, or even influencers. They represent your brand in every interaction. Training your staff and cultivating a loyal customer base who will advocate for you is crucial.
6. Process Ever had a bad customer experience because of a bad process? It matters! Streamlined operations, from checkout procedures to customer support, can make your brand memorable—for the right reasons. A seamless process improves customer satisfaction and retention.
7. Physical Evidence Especially in today’s digital world, “physical evidence” refers to the tangible or visible aspects that reassure customers of your brand’s legitimacy. This could be packaging, your store design, or even a professionally crafted website. It’s what makes your brand feel real and trustworthy.
Conclusion: Marketing Is more than just advertising
The 7Ps of marketing are like the different instruments in an orchestra. Alone, each plays an important role, but together, they create a masterpiece. Focusing on just one or two aspects of marketing—like advertising or social media—will never give you the full picture. Remember to consider all the Ps for a comprehensive marketing strategy.
Sources & Further Information
Perreault, W. D., Jr., Cannon, J. P., & McCarthy, E. J. (2014) Basic marketing: A managerial approach (19th ed.). McGraw-Hill Higher Education
Kotler, P., & Armstrong, G. (2023) Principles of Marketing (19th ed.). Pearson
Hanlon, A. (2023) How to use the 7Ps marketing mix. Smart Insights. Available at https://www.smartinsights.com/marketing-planning/marketing-models/how-to-use-the-7ps-marketing-mix/
