The 7Ps of Marketing Defined (Smart Monday/Process)
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The 7Ps of Marketing Defined (Smart Monday/Process)

Hello again, I’m Jim Glover, That Branding
Guy, for Once a Day Marketing, where business takes shape. You’ve probably noticed my
t-shirt: Faster, Farther, Stronger. I used to wear this when I would go watch my daughter
compete in the New Mexico track and field championships. In a way, this sums up what
we are trying to do here at Once a Day Marketing. We’re trying to make you move a little faster,
try to get you to go a little farther, and definitely to make your business stronger. Today is Monday and that means Smart Monday
so we’re going to try to enhance your marketing IQ a little bit. Today we’re going to be
talking about the “7Ps of Marketing.” You heard me allude to it several times. I’m
going to define it because I believe it’s such a big part of our Once a Day Marketing
campaign for you and the foundation for everything that we do here. So just what is the “7Ps of Marketing?”
It’s really a business tool for analysis, for strategy and for taking action. Let’s
go through and define the 7Ps. The first is product. Now as a company your
are offering a product or you may be offering an intangible or service of some sort. Through
the 7Ps we take a look at product and figure out how to make that product more appealing
to your customer. Next is price. There are all sorts of pricing
strategies out there. We’ll be talking over the course of Once a Day Marketing how you
can price better. Believe it or not, sometimes companies under-price their products. Next is promotion. All sorts of things going
on in the world today with respect to promotions. The traditional side of things, which includes
television, radio, print and billboards, and so forth. And now there’s this whole new,
modern social media approach where you use Twitter and Facebook and YouTube. This is
all exciting and part of the 7Ps as well. Next is place. Another term for it is distribution,
but that doesn’t start with a “p” but that’s everywhere your customers can get
access to your products. Used to be you would go to the store but now it can be something
that is digital and instantly sent across the world. Distribution channels are changing. Next are the people. This if often forgotten.
You have people in your organization directly dealing with your customers and you have people
in your organization behind the scenes. All of those individuals help shape your marketing,
believe it or not, and we’ll be discuss that. Next is the physical evidence. And as I have
described physical evidence before in another blog, it’s everything that your customer
sees. If you think about a professional football team, it might be the signage on the stadium,
it might be the stadium, it could be the uniforms, the impressive players on the team. It might
be the flamboyant coach or it could be the beers that are sold at the concession stand.
All of those things tie into the physical evidence. And then there’s process. I have two parts
to the process. On the one side I have the internal process and that’s everything you
do to market to market to your customers. And then the external process and that’s
everything your customers experience in obtaining your products or services. We will be looking
at all of the 7Ps. Now there’s one more “P” is you will:
positioning. And positioning is very interesting, it’s not part of the 7Ps per se but I add
it so it’s like 7Ps plus or the eighth P. But it’s very important to understand about
differentiating your product and where that product fits in the marketplace or its niche.
And so we’ll be talking about that. And that in essence is what the 7Ps are all about. Why are the “7Ps of Marketing” so important
for us? Now we have a way to communicate. Right? If I mention the “7Ps of Marketing”
you’ll understand what it is and if I start talking pricing, promotion or physical evidence,
you’ll also have a grasp of that. Now we can communicate a lot more effectively here
at Once a Day Marketing. The other thing is that it’s going to provide
for us a systematic way to analyze your business, to analyze your market and your competition.
So little by little I’m helping you become that marketing expert I want you to be. Over the next few weeks on our Smart Monday
I’m going to be elaborating and expanding on each one of the Ps. We’ll be talking
a lot more about product, price and place, etc. Why that’s so exciting to me also is
that later on when you’re out there in the real world applying these marketing tactics
you might come across a problem like a pricing problem or a physical evidence problem. What’s
nice about Once a Day Marketing is that you’re going to be able to use it as a resource to
go back into our database and find blogs by 7P categories and look them up to give you
ideas to solve those problems. The unique nature of Once a Day Marketing is that you
can in fact attack problems from the 7Ps using our resource. Well thanks for joining us for Smart Monday
and be sure to stop by tomorrow if you can for Strategic Tuesday. I guess the big question
is: Are you feeling like you are moving a little bit faster, going a little bit farther,
and becoming a little bit stronger? I hope you are. I’m Jim Glover, That Branding Guy,
for Once a Day Marketing, where business takes shape and we’ll see you next time.

About Ralph Robinson

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