Convenience 4. The marketing mix is a familiar marketing strategy tool, which as you will probably know, was traditionally limited to the core 4Ps of Product, Price, Place and Promotion. It isn’t limited to the 4 ps. The Marketing Mix model, or marketing strategy (also known as the 4 P’s) is widely used by marketers as a tool to assist in implementing the marketing strategy. So for a high profile brand, increase the focus on promotion and desensitize the weight given to price 17. Marketing Theories – The Marketing Mix – From 4 Ps to 7 Ps. The physical evidence of service includes all the tangible Marketing activity is normally structured around the 4 Ps – product, price, promotion and place. As already discussed, services are inherently intangible, are consumed simultaneously at the time of their production, cannot be stored, saved or resold once they have been used and service offerings are unique and cannot be exactly repeated even by the same service provider. However, given the unique nature of services, the implications of these are slightly different in case of services. It is one of the top 3 classic marketing models according to a … The marketing mix is a familiar marketing strategy tool, which as you will probably know, was traditionally limited to the core 4Ps of Product, Price, Place and Promotion. It is all about getting the right product or service to the customer at the right price, in the right place, at the right time. The 7 P’s of Services Marketing The first four elements in the services marketing mix are the same as those in the traditional marketing mix. Communication Which were directly co-related with the 4P’s; Product, Price, Place and Promotion respectively. Understand how the 4 Ps of the classic marketing max can be extended to yield a complete marketing mix for services. Leveraging the 7P’s of marketing in healthcare. Entrepreneur Media, Inc. values your privacy. The 7Ps of Marketing The Marketing Mix Marketing Strategies. The additional 3 P’s of service marketing, and the 4 Cs theories were developed in the 1990s as experts realised that business had to become more customer- centric. marketing, and businesses ignore this at their peril. How does the marketing mix for services look like? Marketing Mix & 4 p‘s It is the same with the marketing mix. As already discussed, services are inherently intangible, are consumed simultaneously at the time of their production, cannot be stored, saved or resold once they have been used and service offerings are unique and cannot be exactly repeated even by the same service provider. Marketing, business - The 7 Ps of Marketing - Entrepreneur.com.