There are many different ways in which a person can describe and understand marketing. It is an essential practice for every business. It is the process of planning your businesses way of promoting and disseminating products or services. It has to do with the conception, the pricing, the promotion and finally the distribution of ideas, goods, and services specifically created to cover the needs of consumers and organizations.
Nowadays, there is no way for any business to be successful, unless they have the right marketing strategy, and the people needed to implement that strategy. However not every company can afford to have a marketing department. Especially in the beginning.
The good thing about marketing is that, when it comes to the very basics, everyone can learn how to do it. All you have to do is follow the 7 Ps model for marketing. But exactly what is the 7 Ps model?
The 7 Ps model is a series of seven actions, that if combined can provide a sound and nearly perfect marketing strategy. At least in theory. In action, there is always a risk. Therefore, wanted to have a marketing plan that will work to 100% is not possible.
What is possible however is to make sure that you are going to secure your marketing plan with back up plans that could prevent possible threatening errors for your business. The 7 Ps model still remains the most basic marketing strategy though. So here is the 7 Ps model, broken down and explained.
Product
What is it that you are selling? What are the features of your product? What are the advantages and the benefits that your customers will enjoy if they choose your product over others?
These questions need to be answered before you start selling your product. They will help form the marketing strategy on which you will base the promotion of your product. Equally, you need to do the same with the services your business is providing to your potential customers.
Price
The pricing strategy that you will follow, will determine whether your product is going to be a success or not. Your prices will affect your customers. If you have really low prices then you might create a sense of bad quality for your customers. At the same time, high prices are really discouraging and will drive a lot of potential customers away.
You need to come up with a plan that will allow you to drop or raise your prices in such a way that will create profit for your business and will attract customers and not send them away.
Promotion
What kinds of activities will you use to promote your products? You need your potential customers to be aware of the products you sell and the services you provide. Mapping all of your potential promotional activities and organizing them can certainly help you set up a long-term marketing plan.
Place
Although essential, many people tend to forget about the importance of the location of their business/shop. You need to set up shop at a place where people are going to be able to see you. A place where your product and services are seen, made sold and distributed.
Starting a new business means that you need to find the best business location as a key marketing tactic.
People
How will work for you? Do you know how important personal contact is? If you have rude employees without any empathy then we can guarantee that you are only going to start losing customers.
The people that will be working for you need to be able to perfectly communicate with your customers and be able to great the right environment for them. A good first impression will always bring your customers back.
Process
The process step is the steps referring to the delivery of your products and your services to your customers and clients. As you can understand we are talking about the most essential part of the business.
If you have a really good process then that means that you will be able to accomplish the following two things.
- Always be able to maintain a good delivery service with standard quality
- Increase efficiency by improving already effective techniques.
Physical Evidence
Last but not least is the physical evidence tactic. This contains pretty much everything. How your customers see your business when they visit your shop, how the interior of your shop can add to you selling techniques, your packaging, and branding. Pretty much anything that has to do with visual aids that will help you enhance your results.
The 7 Ps marketing strategy is the right way for you to manage and increase your chances of actually having a successful business. It is essential for you to remember how to apply every single one of those techniques. Never neglect the fact that the more you make sure the basic steps are followed the more likely you are to be a successful stakeholder of your targeted market!
The simplest way for you to learn these techniques and how to apply them, as well as others, is to train yourselves. There is a plethora of different course out there that will be able to provide you with the necessary information.
One of the best options for learning the basics of marketing for businesses is the YOU-ME training platform. YOU-ME is project funded with the support of the European Union, focusing on providing information, training, and support to young migrants in order to help them establish their own business. You can use the information on that platform and the training it provides, to advance your own business. Check out the platform today and start building your own successful marketing strategy!
