≡ Menu

The 7 P’s of Marketing

I wrote a very popular article about the marketing mix:

Marketing Mix: 4 P’s or 7 P’s of Marketing or Extended Even More?

I then extended it to look at the different versions with widely different P’s. I’ve now decided to have separate articles for each of the different number of marketing P’s.

The original marketing mix that has become widely known is Product, Price, Promotion and Place.

The 7 P’s of Marketing

Version 1 (the marketing mix for service businesses)

  • Price
  • Place
  • Product
  • Promotion
  • People
  • Processes
  • Physical evidence

I think this version makes a great deal of sense for service businesses.

As an example, think about a restaurant.

In terms of physical evidence, the building, the decoration of the room, the quality of the table and chairs, cutlery and glassware will all help to form an impression. So will the food itself – how it looks, smells and tastes.

Then there are the people. Front of house, the quality of waiter or waitress service can make a big difference. The chef may be particularly talented and even a celebrity.

Finally the processes are important because they make sure that service is consistent. You do want to go to a restaurant and have a great meal, decide to take friends and have it turn into a disaster because what was done so well before, has suddenly become a disaster.

Version 2

In this version of the 7 P’s of marketing, processes and physical evidence are replaced with positioning and packaging.

  • Product
  • Prices
  • Promotion
  • Place
  • Packaging
  • Positioning
  • People

http://www.entrepreneur.com/marketing/article70824.html

Version 3

Here Place is dropped from the original marketing mix and Position is brought in. While Place usually refers to the distribution routes to market, position identifies how the business fits in with competitors. Otherwise it is very similar to the service marketing mix.

  • Price
  • Position
  • Product
  • Promotion
  • People
  • Processes
  • Physical evidence

http://www.sabusinesshub.com/section/content.php?SectionId=7&SubsectionId=5&ContentId=529

What Do You Think About The 7 P’s Of Marketing?

Do you find any of these more helpful than the traditional marketing mix?

Leave a comment below.

The Other Versions Of The Marketing Mix

If you want to look at how the other versions have developed, here are the links.

David Deutsch has long been regarded as one of the very best of the A-List copywriters. I’ve seen him providing support on trainings from John Carlton and he attended Harlan Corben’s course on NLP Copywriting.

Up until now, he’s kept many of his secrets to himself. There’s no widely distributed book and there hasn’t been a course. A few years ago I bought a series of interviews David did with other copywriters as they talked copy which also meant I received a pdf copy of a book he did write called Million Dollar Marketing Secrets.

Now David has produced a course called…

A-List Copywriting Secrets

[continue reading…]

Brian Kurtz is a direct marketing legend who worked with Marty Edelston to turn Boardroom, Inc. (now Bottom Line Publications) into a remarkably successful information publisher. They did it by finding the very cream of copywriters.

Here is an interview between Brian and copywriter Roy Furr. Roy is the copywriter Brian choose to write the copy for a memorial event to celebrate the life and achievements of Marty Edelston. It was called The Titans of Direct Response.

Here is how Roy describes this recorded interview:

“I asked Brian to come up with ONE BIG LESSON he got from each of the Titans.
… One big reason why he’d invited each to take part in the event.
It turned into a rapid-fire session of lessons on marketing, business, and life.”

It’s 55 minutes long but it’s a great way to spend the time.

I’ll also take this opportunity to recommend Brian’s book called Overdeliver (link to Amazon.co.uk or Amazon.com). I’m not sure where my 5 star review has gone as it’s not on Amazon or this website. Sometimes I have had trouble posting so, hopefully, my tablet has captured it.

 

I received an email from Cathy Goodwin (copywriter and copywriting trainer) that got me thinking about the importance of your customer’s backstory and how it’s an overlooked part of marketing.

What’s A Backstory?

I’ll quote directly from the email

A client’s backstory consists of 3 parts:
What’s their problem?
What’s holding them back from solving it?
What have they tried?

You’ve probably been told you need to develop avatars or personas for your main types of customers or clients. It’s something I’ve taught in the past to clients. The idea is to help you to get to know them and get into their minds so that your marketing can be more effective. It’s the difference between talking TO them and talking AT them. [continue reading…]

The full title of this book by Clayton M. Christensen and Michael E. Raynor is

The Innovator’s Solution: Creating and Sustaining Successful Growth

In my review posted on Amazon.co.uk, I gave the book a 5 Stars rating. This means it is Excellent.

Here is my book review.

An excellent book that makes powerful points about growth through innovation

This book is mainly written about giant companies who need to grow faster than the stock market expects in order to increase the share price.

As such, is this dilemma relevant to the small business market? The authors acknowledge they have written the book for big, established companies but state that the ideas will apply for start-up entrepreneurs. [continue reading…]

The  title of this book compiled and edited by Brian L. Davidoff is

Reviving the Financially Distressed Business

In my review posted on Amazon.co.uk, I gave the book a 3 Stars rating. This means it is Worth Reading.

Here is my book review.

Useful but I’d prefer a joined up approach.

This book has different chapters written by different people. If I’d have realised that, I probably wouldn’t have bought it.

Why? Past experience shows that with this type of book there are either gaps or overlaps between the writers. [continue reading…]

The full title of this book by Walker Deibel is

Buy Then Build: How Acquisition Entrepreneurs Outsmart the Startup Game

In my review posted on Amazon.co.uk, I gave the book a Four Stars rating. This means it is Good to Very Good.

Here is my book review.

Very well written guide to being an acquisition entrepreneur

Can you succeed by buying a business? [continue reading…]

The full title of this book by Arnold Goldstein is

Turnaround: How To Turn Your Business Into A Debt-Free Money Machine

In my review posted on Amazon.co.uk, I gave the book a 4 Stars rating. This means it is Good To Very Good.

Here is my book review.

An excellent American turnaround book

First a warning about the book, it is written by an American lawyer so references to legal issues apply to the USA and not the UK.

Just be aware of anything in here that touches on legislation. Be ready to ask your lawyers whether there is any equivalent in UK law, and if there are other UK specific requirements. If the survival of your business is under threat, you need to understand the legal situation. There are ideas in here that will sound very helpful but you must make sure they are legal or you could get yourself into serious trouble.

After that legal health warning, this is a terrific book that is absolutely stacked from top to bottom with ideas and issues for you to consider in turning around your business.

Of course it focuses on what you can do in these difficult situations but first it asks you to consider what you should do.

It’s very easy to assume that any business owner will want to save the business but it might not be true.

Right from the start the book forces you to answer whether
1) You enjoy running the business. Is it something you’re passionate about?
2) Does the business suit your skills?

If either of those is a No, the chances of turnaround are low and prospects going forward aren’t good.

I’m wary of recommending too many books on turnaround because there is so much thinking and planning you need to do and you need to get into action in what can be a very limited time before the money runs out. I really like the Mark Blayney book, Turning Around Your Business which is British and is shorter than this one. You should probably read that first.

I see this very much as a book of ideas. You might not be able to do what it says, the way it says to do it because of differences in the legal system but there might be other ways to achieve the same objective. I’m not an insolvency expert and whenever a business owner contacts me who is in serious trouble, I always advise talking to someone who is.

Turnaround is an area of keen interest but my target clients haven’t dipped deeply into the red but they need some aspects of turnaround thinking. The bigger companies where I’ve been involved in debt workouts have always had professional advisors in place. The ideas in the book show the value of talking to experienced professionals because their ideas can make a huge difference to the future of your business.

If I was writing this review for an American audience, and assuming what it says is legally correct, I’d give it a five star rating. As I’m writing mainly for a British audience on Amazon and my blog, I’ve deducted one star because of the legal uncertainties. There is too much that either does not apply or may not apply.

You can buy the book from Amazon.co.uk or Amazon.com

There are many thousand of business books, you can see the full list of my reviews at Business Books Reviews by Paul Simister (Please click). I've also narrowed these down to a list of the 12 Best Business Books For Business Owners & Entrepreneurs (Please click).

Get To Know Me

[sos]

Don't forget to download and read my FREE Report - The SIX Steps PROFIT Formula: The Simple Rules That Every Small Business Owner Needs To Know available to download at Six Steps Report (Please click).

Business Model Canvas by Sebastian Buch

The full title of this book by Sebastian Buch is

Business Model Canvas: From the idea to business model

In my review posted on Amazon.co.uk, I gave the book a One Star rating. This means it is Very Disappointing.

Here is my book review.

Very disappointing, ridiculously short

I bought this “book” and it is ridiculously short. Amazon says it had more than 100 pages but my kindle version has 113 locations and the page numbers at the bottom keep jumping. I don’t know what’s going on and there isn’t a table of contents to point towards missing chapters that weren’t downloaded. (Update – I’ve now noticed that the cover says includes 100 templates so I’m guessing that the physical book has 100 pages of templates.) [continue reading…]

The full title of this book by Pete Lindsay and Mark Bawden is

Pig Wrestling: The Brilliantly Simple Way to Solve Any Problem… and Create the Change You Need

In my review posted on Amazon.co.uk, I gave the book a 4 Stars rating. This means it is Good to Very Good.

Here is my book review.

Are you stuck with people problems?

This is a business fable about problem solving. In the book, an old barista at the coffee stall comes to the rescue of a young manager who has become extremely frustrated. [continue reading…]