The seven P's of marketing are the service marketing mix, which addresses seven key characteristics in building a complete marketing strategy. The service marketing mix extends the original product mix of product, place, price and promotion by adding three additional service components: people, processes and physical evidence.Know More
Product, place, price and promotion are known as the four P's of marketing. The product is the item a company sells. Place or distribution refers to the physical location of a business or the ways in which the company distributes goods to customers. Price refers to the amount the company charges for its goods. Promotion is the use of advertising, public relations and personal selling to communicate benefits to targeted customers.
The addition of three service elements to the original four P's is based on the differences in selling intangible solutions relative to hard goods. The people component is based on the premise that people deliver services. In an auto repair shop, specialist certificates often hang on the wall to alert customers to the expertise of mechanics. Processes refers to the fact that services are often delivered in multiple steps over time. Ensuring a quality experience from start to finish is important in service marketing. Physical evidence includes the visual elements, such as cleanliness, professional decorum and product packaging that customers observe in a service business.Learn more about Marketing & Sales
Buzz marketing refers to a marketing strategy employed by firms and marketing agencies to spread word rapidly about a novel product or service, using citizens as brand promoters. Buzz marketing essentially acts as corporate gossip, but instead of spreading news and information about people, it educates customers about products. Buzz marketing employs a word-of-mouth marketing program, utilizing many channels for communications, including social media, print sources and mobile devices.Full Answer >
NASCAR created one of the largest and most successful marketing campaigns in the field of sports by capitalizing on large audiences and even larger venues. Furthermore, NASCAR has made everything under its control a potential marketing opportunity, from the jackets the drivers wear to the names of the races.Full Answer >
Distribution in marketing pertain to the tactics and techniques a company uses to get its commodities to the final consumers. It describes the process of moving products from the manufacturer to the marketplace. There are frequently a lot of moving parts involved.Full Answer >
In indirect marketing, the customer does not receive any direct communication from the company. Indirect marketing is used when a customer is aware of a product and only needs to be reminded about the product in order to check out the company and possibly purchase the product.Full Answer >