Hello friends, my name is sahil khanna and you are watching intellectual indies. Today we’ll talk about 7P’s of marketing 4P’s we’ve already discussed. If you don’t know about it, you can check So 4 P’s tell us about Product, price, place and promotion These 4 P’s are fine for product If we are dealing in service. Then we can add three more P’s that are Process, People and Physical evidence. Keep watching this video First of all, let’s discuss People Means staff of our company Our employees For example- hair dresser Now that hair dresser How good is he at his job? Whether he is trained from Habib? His own hair. How good is he at his work and how experienced is he. All these things come under this category Now people can increase the brand value of your company Suppose if i’ve opened my salon If Jaweb habib comes at that salon Can you imagine the value of that salon? Here our team matters a lot Means at customer service department How goood are employees in communicating Like i went to a skin care And their employee at the customer service desk They have a good level And i can say they must be charging 80,000/month, Their personality was alluring Their way of talking Their first impression was good. If you work in a service industry You need to focus on these things. Your staff Let’s talk about process. How fast is the service of Mcdonald’s Packing service Whenever you’ll eat their burger, french fry Whether in Delhi, South delhi Taste is same. WHY Because their vendor is same. Their process is same. defry blah blah everything is fixed. That’s why burger tastes the same. Even in 5 star hotels, taste is consistent there. Why? Because quantity of things is fixed. Even in bank They provide services like open account in 15 minutes. It’s a part of their process. So if you’ve a service. Where you can bring optimization or standardisation and that can be your USP. So think you don’t need to fight Basically these consistent and same services will provide value addition And customer will stick to your brand. He’ll always consider you first because of your fast service. Taste of Mcdonald’s service is always same. Taste is always same and A1. Let’s talk about Physical evidence. Means I went to eat in a 5 star restaurant. So i have an image of that restaurant That it’ll have an ac and their staff will behave well Ambiance will be good. All these things comes into the category of physical evidence. If you are going for a haircut and they are taking 500 from you and his salon looks cheap. You’ll be disappointed And on another salon, they take 50rs But their salon looks very lavish That’s just another level of value addition. Recently one of clients didn’t have a large budget. So they wanted a cheap set up In the service industry They wanted to know about marketing strategies. Most important thing is ambiance, that will do value addition They didn’t want to keep the rate high But i recommended them if they work on ambiance even in less money They can creaate a good setup. Consider CCD, they haven’t spend much They used their mind and you need to do the same.I If CCD starts selling coffee in 40rs. Can you imagine the rush? There are many audience who’ll come. Suppose there’s another competitor. Both provides the same thing Here if you work on your ambiance. On physical evidence. That’ll be value addition. Suppose there’s a food outlet. around the college area, same menu Let’s say their taste is same too Now in the place A, you get AC. good place to sit. And the B place is self service. Place A Their sitting area is small and the sitting area of place B is big , both have AC>Place A targets youth. And at place B, they target a good class of people So here the audience will be classY and the audience there will be youth Suppose price of B is less than A They want to showcasse them luxurious>and Other place wants to show youth oriented. Affordable price. Here we won’t talk about profit Because both have different strategies. Here they are doing differentiation strategy and youth oriented place is doing mass marketing. Both have different strategy For example Pizza hut and dominoz If you think, you’ll notice Ambiance of pizza hut and dominoz is different So your physical evidence can help you in branding. Rest of the 4 P’s have already discussed in the last video You can check that video too. If you are watching this video for the first time then do check our whole marketing series. Okay friends, video ends here. I hope you liked it. If any doubt, do ask me in the comments. Like and share. Bye Goodnight Goodmorning Goodafternoon whenever you are watching this video.