GROUP THE

MARKETING MIX (7PS

OF MARKETING)
Group 12
OUR MEMBERS
Barrameda Nicole
Bayta Reizhel Mae
Cagoyong Beatrice
Gale Benjie ( Leader)
 THE 7PS OF SERVICES
COSTOMER
MARKETING PRODUCT
As you already know, that product is
PEOPLE PHYSICAL EVIDENCE the basic offerings of a company that
may be classified as Tangible Goods or
PLACE PROCESS
Intangible Services. This is the initial
PRICE PROMOTION stage of the marketing mix since
following the idea that you cannot
PRODUCT
give what you do not have. You need
The 4 Core Ps of Marketing are Product, first to develop the product that you
want to offer in the business market
Price, Place, and Promotions. The Extended
and show its viability and feasibility.
Ps are People, Process, and Physical
The product phase of the marketing
Evidence; these are additional elements for mix would always follow a product life
the Service. cycle.
 Tangible products are classified into four categories based on
consumers' buying behavior, and similarity to other products and
competing brands. Classifying products into these distinct
categories helps marketers implement more effective strategies,
and target their efforts based on consumers expectations of that
product class.2
TYPES OF PRODUCT

Consumer
Consumer goods/Product
Goods/Product IndustrialGoods/Product
Industrial goods/Product
-Raw Materials
-Convenience goods
-Fabricating parts and
-Shopping goods material
-Specialty goods -Installation
-Unsought goods -Accessory equipment
-Operating supplies
 Shopping goods- are products that are purchased less
equently, usually only when a special need and want arise.

Specialty goods- are products that require a great amount

involvement from both buyer and seller.
Unsought good- are products that people are not
aware but is out there in the market.
Industrial goods- are products used to create another
product.
Intangible Products/Services - these could be services or
ideas.
Intangibility- The product cannot be inspected before purchase; it
can only be described, unlike a physical good which can be looked
at once, twice, or a hundred times and it will still be the same.
Variability- this attribute is a consequence of the product being
intangible and being delivered by a human being whose state of
mind and body could be different at different times of the day,
the week, or the month.
Perishability-do services spoil? They might! This tells us that
when a service is needed and the provider is not there the
opportunity to serve might get lost.
Inseparability-When a service is availed, it is consumed
simultaneously.
Key point for Product: whatever type the product is, its value
proposition should be the prime consideration for the
succeeding Ps in the marketing mix. This value proposition
(Lesson 9) is what will make people buy and choose your
product. The formal product sometimes becomes secondary
to WIIFM (What's In It For Me).
Introduction Stage- or Market Development Stage as abeled by the HBR. This is the most
expensive stage and sually, profit is hardly realizable. At this stage, even if the company
has forecasted a sizable market segment, there is to assurance that the product will sell
like hotcakes unless a marketing blitz (hype) has been done pre-launch, It is normal see
no profit at this stage unless you have aimed to maximize the market by using the Price
Skimming Strategy. Expenses at this stage would include:

1. Research and development

2. Market- testing costs
3. Pre-launch and launch costs, including heavy
promotional activities
Decline stage - Unfortunately, all things go through the
decline stage.
PRICE This is the amount that the consumers are going to pay the
company for purchasing the product.
 Pricing Strategies:
Price Skimming- sometimes called Premium Pricing; price is set at high markup
rates; This strategy is usually adapted to products with a Differentiation Generic
Strategy and Focus (M. Porter) This strategy aims to maximize profit or earn it as
fast as it could especially if the company krrows that it will have limited time to
enjoy the "uniqueness" of the value it offers. Then, after a given period, the price
is decreased to penetrate other market segments.

Penetration Pricing-A company adopts this strategy when it has decided

to use Cost Leadership(M.Porter).

Status Quo- A company follows the going rate price of competitors and this
is usually adopted when a company aims to maximize the existing
market/buyers.
 PLACE-The location of the business is a powerful determinant
of the product that the company is offering to its consumers
Availability- This element focuses on the physical existence of the
product.
Accessibility. This element of place needs to be given equal
consideration as well.
1. Intensive distribution this entails making your product accessible to large
markets, hence, placing them in almost every type of retail outlet (sari-sari
store, convenience store, modern trade (groceries and hypermarkets).
2. Exclusive distribution-this type gives sole right to a dealer to make the product
accessible to the customer.
Marketing Channels of Distribution:
Direct-simply from producer direct to consumer. Example A pastry chef decides
to put up a cafe.
Indirect - from producer to intermediary to consumer Example: A Pastry Chef decides to put
up a commissary bakery, Creates wonderful desserts and brings the products to established
coffee shops where a customer can consume or buy the cake with the coffee from the shop.
 PROMOTION:
1. Inform the introduction of a new product/service, or a modification of a
maturing product.
2. persuade to influence non-users to use or users to use
more of the product which is usually done in the growth
stage.
3. remind- to keep the customer base remember that your
product continues to give what it has promised them or what
the customers have been getting from the product usually
used during the mature stage.
Mix also known as the (4ps of Marketing) is defined as
creating and specializing in different marketing
elements that would be critical in positioning its
offerings successfully in the business market.
PRICE - This is the amount that the consumers are going to pay the
company for purchasing the product.

PHYSICAL EVIDENCE-This is the most evident one to be seen in

the company and its offerings.
PEOPLE- People or the different staffs of the company are crucial
in whatever business, they would be the frontlines of your
company.
PLACE-The location of the business is a powerful
determinant of the product that the company is offering to
its consumers.
THANK
YOU