In recent years, the concept of marketing has undergone significant changes. With the onset of the global internet era, customers have become more demanding and knowledgeable about the goods they buy. This situation, in its turn, has led to the need for new marketing approaches that would focus on individuality rather than community. The four-element marketing mix that took into account price, promotion, product, and place, could no longer fully reflect customers’ needs. The necessity to focus on the clients’ experience and their changing perceptions has brought about the need to modify the traditional model by including more elements into the marketing mix.
The 7 p’s marketing mix places in the center a customer and his or her experience allowing for an individualistic approach to marketing activities. The need for an extended mix has been largely determined by the fact that old approaches have become ineffective (Afridi, 2009). People have demanded personification that would determine their product choices. Therefore, the marketing mix has been extended to include people, product, and physical.
People are those who are involved in the process of selling the product and influence consumer decision-making. People comprise company employees, opinion leaders, and salespeople who can have a significant impact on the perception of a product in the eyes of the target consumer. Therefore, it is essential to reflect on the marketing strategy programs aimed at motivating, developing the necessary skills and competencies of the company’s personnel (Afridi, 2009). At the same rime, methods of working with opinion leaders and other persons capable of influencing the opinion of consumers should be carefully elaborated. Many companies believe that opinion leaders can be more effective in building the positive image of a company. Thus, for example, the company Ella Drinks Ltd. has hired celebrities to anchor its TV programs, significantly boosting its revenues (Kumar, 2020). This approach allowed the company to attract new clients and find a new market niche.
Process is understood as an interaction between the consumer and the company. Some experts refer to this element as the process of using the product which includes the easiness of purchase, the access of a customer to full information about the product, guarantee options, and post-sale service (Goi, 2009). In the marketing strategy, it is recommended to reflect programs aimed at improving the process of providing services to the target consumer as it helps to win customers’ loyalty. An example of the importance of the process for the service market is the speed of service in the fast-food chain McDonald’s, which has allowed the company to form a loyal pull of customers. The company is known all over the world for its top-notch service.
Physical environment is the creation of a favorable atmosphere around the consumer. It affects the purchase decision, loyalty to the company and its image. A good example of a comfortable physical environment is the stands in Nokia shops that allow customers to interact with goods through virtual reality learning abouts the products they want to buy (Pedersen, 2022). The 7P model is used in customer service marketing and in B2B niches, allowing companies building a positive image and attracting more clients. Unlike the 4P model, 7P marketing mix places emphasis on an individual approach to every customer, the fact that allows making marketing strategies more effective.
Reference List
Afridi, F. K. (2009) ‘Extended services marketing mix and emergence of additional marketing Ps’, Journal of Management Science, 3(4), pp. 137-143.
Goi, C. L. (2009) ‘A Review of Marketing Mix: 4Ps or More?’, International Journal of Marketing Studies, 1(1), pp. 2-15.
Kumar, M. (2020). Marketing and its Application: Case Study of Ella Drinks Ltd: Comparative Analysis with Coca-Cola. Web.
Pedersen, C. L. (2022). Cracking the Culture Code for Successful Digital Transformation. MIT Sloan Management Review, 63(3), 1-4.