What is the difference between the 4P and 7P marketing strategy?
The 4P and 7P marketing strategies or also known as the marketing mix are marketing efforts that aim to offer products at the right place, time, and price. However, before talking further about the elements of the 4P and 7P marketing strategy – you need to pay attention to the image below to understand the components of the marketing mix.
The 4P marketing strategy is like the embryo of the 7P introduced by E. Jerome McCarthy in the 1960s. While the 7P strategy is a development of the 4P which is generally used by companies that offer products in the form of services.
4P Marketing Strategy
The following are the four components of a 4P marketing strategy:
A product is something that you offer in the marketing process either in the form of goods or services. This product will later become your spearhead in obtaining business profits. The most important thing about this component is that your product must be able to meet the needs and desires of consumers.
Besides, you also need to pay attention to the quality of these products. The better the quality of the product you present, the more likely it is that the product will be well received by your target market.
Price is the money that must be spent by consumers to get the products you sell. The determination of the price of a product must be considered, because consumers usually make price the main consideration before making a purchase. Therefore, the price of a product must be rational. In other words, these prices can be well received by consumers, and can also provide benefits for your business.
Place is a distribution channel used to make buying and selling transactions. For businesses that are still conventional, the place chosen must be strategic, easily accessible to consumers, and have adequate facilities.
Meanwhile, for online distribution, you can use a marketplace or online store website. So, try to get your website to have a good User Experience (UX) and User Interface (UI).
Promotion is all efforts made with the aim that consumers can get to know and be more interested in your product. The essence of a promotion is that you can show that your product can meet the needs and desires of consumers, and can solve the problems they are facing.
7P Marketing Strategy
The 7P strategy has the same components as 4P, it’s just that it has three additional components, namely:
5. People or Participants
Participants are everyone involved in your business or marketing process. In service industries, in particular, they are a representation of your business to consumers. With quality human resources, especially those who are in direct contact with consumers, will determine the level of consumer loyalty to your brand.
Process refers to how the actions that occur between the seller and the buyer include the service process and the transaction process. Therefore, you must provide the best possible service to consumers, whether during the transaction process or after the transaction process has occurred, precisely when consumers face certain problems related to your product. Besides, you need to provide facilities that make it easier for consumers to transact and connect with your business.
7. Physical Evidence
Physical evidence is everything related to physical equipment or facilities used to support the business activities you carry out. The bigger the scale of your business, the more equipment and facilities you will need.
Thus the discussion about the differences in the 4P and 7P marketing strategies that you need to know. For your business to grow, don’t forget to advertise through the Froggy Ads service, you can start by advertising your products, so that later you can increase visitors on your online business portal. Froggy Ads is an online advertising service that can help you control all your product campaigns. helps you target your desired marketing target and gives you many options to market your product.