7ps of Marketing - 3360 Words

Marketing and the 7Ps A brief summary of marketing and how it works  © The Chartered Institute of Marketing 2005 www.cim.co.uk/marketingresources www.cim.co.uk/knowledgehub | 1 Marketing and the 7Ps: A brief summary of marketing and how it works ONE What is marketing? he Chartered Institute of T Marketing offers the following Marketing is the management process responsible for identifying, anticipating and Every product we buy, every store we visit, every media message we receive, definition for marketing: â€Å"Marketing is every choice we make in our consumer the management process responsible society has been shaped by the forces for identifying, anticipating and of marketing. The†¦show more content†¦In reality, it covers a much broader range of activities, many of which small businesses do without calling them marketing. Think about what you do. You probably make a particular effort to know your customers well. Your instincts tell you that getting to know what customers want on an individual basis, and providing it, is what will keep you in business. You know that you can’t stand still, and that you need to improve and extend existing products, and sometimes develop new ones. If this description rings true, your marketing activity closely fits the classical definition used by The Chartered Institute of Marketing.  © The Chartered Institute of Marketing 2009 www.cim.co.uk/marketingresources | 3 Marketing and the 7Ps: A brief summary of marketing and how it works THREE The 7Ps of marketing S uccessful marketing depends †¢ upon addressing a number of key The perfect product must provide value for the customer. This value is issues. These include: what a Successful marketing depends upon addressing a number of key issues. These include: what a in the eye of the beholder — we company is going to produce; how must give our customers what they much it is going to charge; how it is want, not what we think they want going to deliver its products or †¢ services to the customer; and how it is A product does not have toShow MoreRelated7p in Marketing1521 Words   |  7 Pageslivescience.com/8173-makeup-makeover-truth-cosmetics.html http://www.powerretail.com.au/pureplay/the-beauty-myth-why-australians-buy-cosmetics-from-overseas-etailers/ Marketing is very important since it is to attract and retain customers. The next part of the report will outline our marketing strategies- the marketing mix 7P of service. They are products, people, price, physical evidence, place, promotion and process. PRODUCTS When designing our service product for maximum consumer retentionRead MoreMarketing Orientation, Marketing Mix, 7p2867 Words   |  12 PagesIntroduction Marketing orientation is defined as the implementation or completion of a marketing concept that essentially caters to the customers. The term is otherwise known as marketing concept or consumer focus. With marketing orientation, a small business orbits its proper choices across the would like and requirements from the marketplace, such as potential prospects. A company which is marketing-orientated has got the commitment to valuing customers and also the customers’ needs. ActuallyRead More7ps of Marketing in Mcdonalds3663 Words   |  15 Pages[pic] Mc Donald’s [pic] [pic] Marketing Mix (i.e.) 7 P’s [pic] Product [pic] A Product is any article, which a manufacturer can sell in open market. A Product has the capacity to satisfy human Wants. This creates Demand and facilitates marketing. The Product Mix includes the following variables: Product line and Range The various product line and range are as follow: †¢ Style, Shape, Design, colorRead More7ps of Marketing Its Application in Different Context5698 Words   |  23 Pages7Ps of Marketing amp; Its Application In Different Context Prepared By: Sheik Shami Ullah Chowdhury (ID-2012121015) Raju Kumar Saha (ID-2012121012) Shaida Yesmin (ID-2012121008) Najeb Islam (ID-2011421006) HND Business Intake 1, 2012 Prepared For: Mr. Irfan Jahangir Faculty, Marketing School of Business BAC Marketing amp; Market: According to the definition approved by AMA: Marketing is the activity, set of institutions, and processes for creating, communicating, deliveringRead MoreA Study on 7p S of Marketing Mix on Pantaloon3824 Words   |  16 PagesFour Ps Four Ps Marketing Mix Product Price Promotion Place Marketing Mix The concept is simple. Think about another common mix - a cake mix. All cakes contain eggs, milk, flour, and sugar. However, you can alter the final cake by altering the amounts of mix elements contained in it. So for a sweet cake add more sugar! Marketing Mix It is the same with the marketing mix. The offer you make to your customer can be altered by varying the mix elements. So for a high profile brand, increase the focusRead MoreThe Expanded Marketing Mix: IKEA - highlights the 4Ps and expanded 7Ps marketing mix1636 Words   |  7 PagesThe Expanded Marketing Mix: IKEA Introduction At any successful company, marketing seeks to connect with customers, serve their needs, and accomplish the stated mission of the organization. A successful marketing process creates value through consumer satisfaction from brand building before the sale to post-sales service and support (Kotler et al, 2001). The marketing strategy process has four primary segments: product, price placement, promotion and people (Kotler et al, 2001). Companies withRead MoreAn Analysis of Saigon Morin Hotel in Hue City Thorough 7ps in Marketing Strategies3905 Words   |  16 PagesSaigon Morin Hotel in Hue city thorough 7Ps in marketing strategies INTRODUCTION The ability to market a hotel in the appropriate way to the appropriate market is essential to the success of the business. For this to succeed, those in key roles need to understand the product that they are selling and the market to which it is being sold. Managers maximize their returns through understanding the market they are operating in and applying those marketing techniques that can best attract guestsRead Moremarketing mix of amazon Essays930 Words   |  4 PagesThe marketing mix is the combination of marketing activities that an organisation engages in so as to best meet the needs of its targeted market. Traditionally the marketing mix consisted of just 4 Ps with 3 extras; an example of marketing mix is Amazon. The most difficult task for any organization is creating an all-around environment which allows a group of customers to feel comfortable purchasing their products or services. The strategy requires the organization to determine the ideal productsRead MoreHow Tesco Can Reposition Themselves For The Discount Chains1729 Words   |  7 Pagesdevelopment of some discount chains in the U.K marketplace, the business of Tesco definitely has faced some challenge. Especially, Aldi?s and Lidl?s could be considered as two examples that have a great growth of their market share through their low-price marketing strategy. According to The Guardian (2014), the market shares of Tesco and two discount chains which include Aldi?s and Lidl?s in U.K marketplace, and their changes could be illustrated as the bar-chart below: As this chart shows, the market shareRead MoreMarketing Management Question on Hmv- London School of Commerce1670 Words   |  7 PagesLondon School of Commerce MODULE TITLE: - Marketing Management --------------------------------------------------------------------------------------------------------------------- Indicative Assessment Requirements for the Module;- Maximum Word Limit and Assessment weighting for each aspect within the assessment: * Each group must submit a hard copy of the report * Each member should speak for 4 minutes --------------------------------------------------------------------