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Business Studies: The 7 Ps of marketing

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Business Studies: The 7 Ps of marketing

(Does not include peeing your pants during an exam.)

So you’ve got your amazing good/service and want the world to know about it. How do you do that? Or, alternatively, you have to memorise these seven things to get the marks to go to uni to start a business and then you’ll be the person in the first sentence of this para. Woah, is that time travel?

Product is the thing you’re selling

Yeah, okay – we’re starting off easy here. At the very core of your marketing is the thing you’re selling. What are the benefits? Why should they pay you cash money for this thing of yours?

Price is what it costs

There’s a reason people sell things for prices that end in 99c – marketing. This element includes payment methods and overheads, as well as discount strategies and seasonal pricing.

Promotion is how people learn about your stuff

Advertising, sales tactics, direct marketing, giving away free samples to people outside trainos in the CBD… basically we’re talking about everything you do to make potential customers aware of your things.

Place is where you sell your stuff

Do you have a shop? Is it online-only or in the real world? What does the outside of it look like? How about the inside? Where is it located? Is it easy to get to? All these things contribute to the perception of your business.

People are your staff (and you)

If you’ve ever had rude service, you’ll know why this is important. The people you hire – and the way you present yourself – determine how people see your brand. Positive service can be a big deal in helping to spread word of mouth and bring customers back for more.

Delivery is one element here, but it’s also about reliability and having the same standards every time. Are you easy to do business with, or do you make everything seem painful?

Physical Evidence is all the concrete stuff of your business

Picture the container that Macca’s fries come in. That’s an iconic shape, and something people associate with the business. In the same way, your packaging, branding, interior design and shop fixtures will make an impression.

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