7Ps Marketing Mix Strategy
Develop your marketing strategy following the 7Ps Marketing mix principals. Includes 8 questions.
- Steps
- 10
- Last edited
- Sep 21, 2023
- Created by
- Nova
About this process
Inspired by the marketing mix framework, which was developed by the famous marketing professor Jerome McCarthy we have developed a template to discuss and develop a marketing strategy. Duration: 1 day to 2 weeks
The process in detail
10 steps- 1
Define your goal.
- 2
ADD [Define your growth strategy.]
- 3
Product: How is your product satisfying your customers' needs?
- 4
Promotion: How do you increase your sales or your brand awareness?
- 5
Price: What's the amount of money your customer or user is willing to pay for your solution?
- 6
Place: Where do you sell your product or service?
- 7
People: Who is your target market? How can your team help you develop a good solution and keep up with the competition?
- 8
Process: How do you execute your idea or solution?
- 9
Physical evidence: What elements will help you position your brand and target the right kind of customers or users?
- 10
Strategy Overview (Optional)
Read the full text
1. Define your goal.
A business strategy can have different goals as each organization measures success differently. Here are a few examples:
Try to be specific and share your main goals by using the sticky notes below 👇
2. ADD [Define your growth strategy.]
Provide insights into your growth strategy and the approach your organization plans to take for the year. A growth strategy is your action plan for gaining a higher market share and expanding your organization. Use this space to address any questions or concerns your team may have.
🔥Tip: A growth strategy is an action plan that will help you get a higher market share and grow your organization. This strategy can be short-term or long-term.
Do you have any questions or comments?
3. Product: How is your product satisfying your customers' needs?
At the core of your marketing strategy is your product or service. This "P" focuses on what you offer, its features, benefits, quality, design, and how it fulfills your customers' needs.
These questions will guide the discussion:
4. Promotion: How do you increase your sales or your brand awareness?
"Promotion" revolves around how you communicate with your target audience. It includes advertising, public relations, sales promotions, social media, and any other tactics to spread the word about your product or service. (Channels: Advertising, Internet marketing, TV or Radio advertising, etc)
These questions will guide the discussion:
5. Price: What's the amount of money your customer or user is willing to pay for your solution?
🤑The "Price" element pertains to the cost of your product or service. It involves pricing strategies, discounts, and considerations related to affordability and value for money.
These questions will guide the discussion:
6. Place: Where do you sell your product or service?
These questions will guide the discussion:
7. People: Who is your target market? How can your team help you develop a good solution and keep up with the competition?
💁♀💁♂👨🌾👨🔬🧑🎨👨🎤Your team members and customer service personnel are a crucial part of the customer experience. The "People" aspect emphasizes the importance of well-trained, customer-focused staff who can enhance your brand's reputation. These questions will guide the discussion:
Target Audience:
Employees:
8. Process: How do you execute your idea or solution?
👏👉The "Process" element centers on the systems and processes you have in place to deliver your product or service efficiently. This includes everything from order processing to problem resolution. These questions will guide the discussion:
Explore payment, distribution, ideation, sales, and other processes, and develop your strategy.
9. Physical evidence: What elements will help you position your brand and target the right kind of customers or users?
Physical evidence is all of the things that will help you become a well-known company, or help users to identify you. Think about things like comfort, usability, design, interface, etc. Let's reframe that! 👀Sometimes referred to as "Presentation," this "P" is all about tangible aspects that contribute to your brand's image. It includes factors like packaging, branding, store layout, and overall physical presentation.
What elements will help you position your brand and target the right kind of customers or users?
10. Strategy Overview (Optional)
This step is optional. We recommend adding your final answer to this step so you can see it in the final report.
👉In the world of marketing, success hinges on your ability to understand and meet the needs of your target audience effectively. Whether you're launching a new product, revitalizing an existing brand, or seeking to outperform your competition, having a well-structured marketing strategy is essential.
The 7Ps of marketing is a comprehensive framework that helps businesses create a winning marketing strategy. Originally developed by E. Jerome McCarthy in the 1960s, this model has since become a cornerstone of marketing theory and practice. The 7Ps represent seven critical elements that collectively shape your marketing approach.