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    Extended MKTG Mix

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    koko lamb
    The extended marketing mix, also known as the 7P's, adds three additional elements - People, Process, and Physical - to the traditional four Ps of Product, Price, Place, and Promotion. The 7Ps comprise the elements that must work together to meet customer needs and achieve marketing objectives. An implication is that the seven elements need to work even more closely together for effective marketing in today's business environment.

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    Extended MKTG Mix

    Uploaded by

    koko lamb
    87 views2 pages
    The extended marketing mix, also known as the 7P's, adds three additional elements - People, Process, and Physical - to the traditional four Ps of Product, Price, Place, and Promotion. The 7Ps comprise the elements that must work together to meet customer needs and achieve marketing objectives. An implication is that the seven elements need to work even more closely together for effective marketing in today's business environment.

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    All you need to know about extended marketing mix

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    Extended Mktg Mix

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    The extended marketing mix, also known as the 7P's, adds three additional elements - People, Process, and Physical - to the traditional four Ps of Product, Price, Place, and Promotion. The 7Ps comprise the elements that must work together to meet customer needs and achieve marketing objectives. An implication is that the seven elements need to work even more closely together for effective marketing in today's business environment.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    87 views2 pages

    Extended MKTG Mix

    Uploaded by

    koko lamb
    The extended marketing mix, also known as the 7P's, adds three additional elements - People, Process, and Physical - to the traditional four Ps of Product, Price, Place, and Promotion. The 7Ps comprise the elements that must work together to meet customer needs and achieve marketing objectives. An implication is that the seven elements need to work even more closely together for effective marketing in today's business environment.

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    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
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    Extended Marketing Mix (7P's)

    The extended marketing mix (7P's) is the combination of seven elements of marketing that
    aim to work together to achieve the objectives of a marketing strategy. These 7 elements are:
    product; price; place; promotion; people; process and physical.

    The marketing mix is the combination of elements used by a business to enable it to meet
    the needs and expectations of customers.

    It is called a marketing mix because each element of the marketing mix is related to the others.
    The challenge for marketing is to ensure that the elements of the mix work together to achieve
    the marketing objectives. Traditionally the marketing mix has been taken to comprise four
    elements: (product, price, promotion and place).

    However, in recent years it has become more common to add three new elements to the
    traditional marketing mix, making a combined 7p’s. This is the so-called extended marketing
    mix.
    The 7p's extended marketing mix therefore comprises the following elements:
    Product: the good or service that the customer buys
    1
    Price: how much the customer pays for the product
    Place: how the product is distributed to the customer
    Promotion: how the customer is found & persuaded to buy
    People: the people who make contact with customers in delivering the product
    Process: the systems and processes that deliver a product to a customer
    Physical: the elements of the physical environment the customer experiences

    A key implication of an extended marketing mix is that the seven elements need to work even
    closer together for marketing to be effective.

    E.g. Customer service, HR (recruitment & training) - technology becomes increasingly


    important, role of IT in e-commerce & customer communication - intangible elements such as
    branding play an enhanced role.

    Extending the marketing mix by adding Physical, Process and People to usual 4P’s connects
    the marketing function much closer to both human resource management and operations.

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