Complete understanding of 7P marketing mix or marketing mix
Companies when they want to issue a new product, it cannot be immediately thrown into the market. There is a number of tricks and “special concoction” so that the released product can be in the market. In this case marketing is one important component. The strategy in carrying out the marketing process is referred to as a marketing mix or marketing mix.
What is Marketing Mix? The following will be explained about what a marketing mix, or better known as Marketing Mix is full.
Definition of Marketing Mix
Marketing Mix or Marketing Mix is one of the terms used in the business world. Literally this marketing mix refers to a business executive who serves as a peracic of ingredients. In this case it is related to business marketing.
Marketing Mix can also be interpreted as a combination strategy carried out by companies in the field of marketing. It is known that almost all companies use this strategy to achieve its marketing goals. Moreover, this strategy is very useful for dealing with the current situation where competition is getting tougher.
Marketing Mix in fact is not only used by business companies. The banking sector also uses the strategy. But the application and concepts are certainly tailored to the bank’s needs.
Marketing mix concept
Initially the marketing mix concept was known as 4P (Product, Price, Place, Promotion). Then marketing boom and Bitner experts add a marketing mix in the service business to 7P. Until now the concept of marketing mix is considered to have developed a development to 7P. Next is the full explanation.
1. Product
The Product referred to here is something that is sold in business or company. Whether it’s goods and services that have use value and those that are needed by consumers. The key to product marketing success is that items and services must answer consumer needs.
Not only that is actually. A required goods or services must have more value than other products. That is so that the product can be a consumer choice. Especially at this time competition is very strict. There are many similar and similar products that are deliberately thrown into the market at the same time.
2. Price
Price or price is a sum of money that must be incurred by consumers to get goods and services sold. Prices have become an important aspect. Then the determination needs mature consideration.
This is because often consumers use prices as consideration before buying goods and services. This price is very flexible. Therefore, there is a good company to follow the flow of market dynamics in determining product prices at the right value. How to determine the right price?
The price is considered to be in the right level is where a price is still accepted by consumers. But the company can still benefit.
3. Place
The next 7P concept is Place or place. This place means is the location to carry out the process of buying and selling products both goods and services. This concept is very important especially for conventional businesses. Companies with conventional business must understand well where a strategic location.
At least that is easy to visit by consumers. But it is devoted to conventional business fields. While it is currently rife whose name is modern business or online business. Therefore, in this era the meaning of aspects of the place is more diverse. Mainly adjusted to the media used.
4. Promotion
The main objective of the promotion is that consumers know more and feel interested in trying to buy products. Whether it’s the product in the form of goods and services. In promotional activities, companies must be able to change consumer perceptions to be positive for the products sold.
Promotion can be done with a variety of ways. Whether it’s offline for example Face To Face, or Door To Door. Until online marketing is through social media, the internet, and many more.
5. Process
The aspect of the process is a combination of the whole activity. Starting from procedures, job schedules, activities, mechanisms, and other routine matters. All of these activities relate to products produced and submitted to consumers. Companies or businesses must prioritize this process aspect. Why? Because the process is related to the consumer.
While consumers themselves are parties who receive good products and services made by the company. In the aspect of this process there will be service activities and transaction processes. Companies must continue to strive to provide satisfactory services for consumers with a variety of techniques until they feel satisfied.
6. People
Included in the 7P concept are people or aspects of people. What is meant by People here is certainly not just a consumer. But the entire HR is involved, including workers to the business team. Especially for this aspect it is very important to note. This is because everyone certainly has a different tendency in managing business.
But HR who are directly related to service is considered the most vital part. The sdm service section will immediately affect the perception of buyers, personal customers, as well as other customers in the service environment. In essence the company needs to pay more attention to HR involved in business activities.
7. Physical evidence
The last included in the 7P concept is physical / physical evidence proof, namely all devices used as a supporter of a business. For large-scale businesses, it is certain to need more devices. In addition, there will be more complex functions and use.
Conclusion
The most important thing to know is that all concepts or aspects of this marketing mix will be interconnected with each other. Therefore the company must run the whole proportionally and hand in hand. This is to ensure that businesses can run more smoothly.
That was about the marketing mix or marketing mix. Good about understanding, as well as the concept is known as 7P. Another important thing to ensure your business is still running according to plan is to make books so that the entire image of the business finance is transparent.
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