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Services can range from financial services provided by the banks to technology services provided by the IT company or hospitality services provided by hotels and restaurants or even a blog where an author provides a service (information presentation, interesting reading etc) to his audience. While everyone knows about the 7 Ps of services marketing, the 8th P of Services Marketing has emerged in research very recently.
In integral services management, improving productivity is a requisite in cost management; but quality, as defined by the customer, is essential for a service to differentiate itself from other providers.
It has been recognized that overall profitability of a firm may be greatly impacted by focusing on not only at the top-line by improving sales but also focusing on the bottom-line by lowering over-all cost of delivering services. It has also been established in research that process improvements deliver better standardization and hence better quality in services. Also did you read our article on the The 4 P’s of Marketing – The Marketing Mix strategies from which the 7 P Marketing Mix theory actually evolves? Promotion plays a role in the perception the possible target audience may have about your service. Services marketing is that elusive concept which stays incomplete without a thorough understanding of 7 Ps. Also did you read our article on the The 4 P’s of Marketing – The Marketing Mix strategies?
So the classical 4 P structure of the Marketing Mix needs to be modified suitably to incorporate the 8 Ps for services marketing, which was previously known as the 7 Ps only.


Services marketing are dominated by the 7 Ps of marketing namely Product, Price,  Place, Promotion, People, Process and Physical evidence. In services management, often the variable costs are a lot more than fixed costs, and so incremental costs, if managed properly can have a huge impact on productivity. Quality perception is a crucial differentiating factor on services management and for long term sustainability of the same. Our authors are educators from top QS ranked universities and practitioners from multinational enterprises. Who would want to travel 10 miles to have a regular dinner, even if that is priced very competitively and has a super quality? Services being intangible, processes become all the more crucial to ensure standards are met with. These form the critical success factors for any service as evaluated by a possible customer. So for services, a firm may greatly benefit through proper re-engineering of processes and remodeling the same if required to improve productivity at each stage.
Services can range from financial services provided by the banks, technology services provided by the IT company, food and ambiance as a service provided by restaurants or even a blog where an author provides a service (information presentation, interesting reading etc) to his audience. The attributes of the product, vis-a-vis the attributes offered by competing products and substitutes, are important in estimating the competitive scenario for the marketing strategy formulation.


Promotion leads to service (brand) recognition and further establishes a proxy to evaluate quality of services based by potential customers. Process mapping ensures that your service is perceived as being dependable by your target segment. What is important to note that services being all the more intangible, the price becomes an important factor for the actual service consumption to happen, after service awareness and service acknowledgement. Many different promotional tools are often used like internet advertisement, special events, endorsements which happen out of the store or in-store merchandising like branded boxes from Custom Boxes Now, plastic dump bins and digital signage. Intensive training for your human resources on how to handle customers and how to deal with contingencies, is crucial for your success. Would you like eating at a joint where the table is greasy or the waitresses and cooks look untidy and wear a stained apron? The 7 P framework is one of the most popular framework for deciding a marketing strategy, right from strategy formulation to actual implementation.



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