7P’s OF MARKETING

MIX and SERVQUAL

Model

Presented By : Aniket Jadhav

Shabnam Hasan
Susheen Kotian
Parikshit Gondchar
Shabnam Shaikh
 INTRODUCTION

The marketing mix is one of the most famous

marketing terms. The marketing mix is the tactical or
operational part of a marketing plan. The marketing
mix is also called the 4Ps and the 7Ps. The 4Ps are
price, place, product and promotion. The services
marketing mix is also called the 7Ps and includes the
addition of process, people and physical evidence.
Describe by the diagram

“The marketing
mix is . . . The set
of controllable
tactical marketing
tools – product,
price, place, and
promotion – that
the firm blends to
produce the
response it wants
in the target
market”.
 PRODUCT

It is the complete bundle of benefits or satisfactions that

buyers perceive they will obtain if they purchase the
product. It is the sum of all physical, psychological,
symbolic, and service attributes.

It is much more than just a physical object.

 An item
Find out what customers need
Satisfy the needs of people
Intangible or tangible as it can be in
the form of services or goods.
 A product is only worth what
PRICE customers are prepared to pay for it.
The price also needs to be
competitive, but this does not
Price is the necessarily mean the cheapest; the
amount the small business may be able to
compete with larger rivals by adding
consumer extra services or details that will offer
must customers better value for money.
Your
exchange to pricing must also provide a profit. It is
receive the the only element of the marketing
mix
offering . that generates revenue — everything
else represents a cost.
 How much did it cost you to produce the
product?
What is the customers’ perceived product
value?
Do you think that the slight price decrease
could significantly increase your market share?
Can the current price of the product keep up
with the price of the product’s competitors?
 PLACE The place where customers buy
a product, and the means of
Place includes distributing
company your product to that place, must
activities that be
appropriate and convenient for the
make the customer. The product must be
product available in the right place, at the
available to right
time and in the right quantity,
target while
consumers. keeping storage, inventory and
distribution costs to an acceptable
level.
 PLACE
(DISTRIBUTION – MARKET CHANNELS)

All of the activities utilized to move a product from

production to consumption.

Direct Channel: Indirect Channel:

Customer Wholesaler
Retailer
Distributor
PROMOTION Promotion is the way a
company communicates what it
Promotion does and what it can offer
includes all of the customers.
activities It includes activities such as
marketers branding, advertising, PR,
undertake to corporate identity, sales
inform consumers management, special offers and
about their exhibitions. Promotion must gain
products and to attention, be appealing, tell a
encourage consistent message and above all
potential else give the customer a reason to
customers to buy choose your product rather than
these products. someone else’s.
Communication
Advertising, Sales promotion ,Direct
selling……
Boost brand recognition and sales
Reach your potential audience and
buyers
Differentiation becomes
a key goal
 The execution of the service
well-tailored process in place to
minimize costs
provide a unique experience
Define a process clearly for the
service provider
PHYSICAL EVIDENCE
Presence and establishment
The location of the service
delivery
The level of comfort and
attractiveness of a service
PEOPLE
People define a service
The company’s employees
Right person at the right place
Customer satisfaction
THE SERVQUAL MODEL