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Youa€™ll be joining the 130,000 Smart Insights members from 80 countries who trust our advice to Plan, Manage and Optimize their marketing. The marketing mix is a familiar marketing strategy tool, which you will probably know, was traditionally limited to the core 4Ps of Product, Price, Place and Promotion.
The 4Ps were designed at a time where businesses sold products, rather than services and the role of customer service in helping brand development wasn't so well know. Promotion: How can we add to or substitute the combination within paid, owned and earned media channels? Take a look at HubSpot as an example, which was founded in 2006; Hubspot has 8,000+ customers in 56 countries and sells software. In our free, illustrated guide to 15 classic planning models diagrams we explain what they are and give examples of why and how to apply them in business. I’m generally loath to give weight to rules or even guidelines that depend on the cheap technique of alliteration in order to make a point. I’m pretty sure alliteration has been used for the sake of making the model easy to remember.
However the marketing mix is far from the finished article when it comes to strategy – relationship marketing fills a lot of the gaps that the one-size-fits-all utensil approach of a marketing mix tends to ignore.
Thanks for the comments – I agree that 4Ps + service is all you really need and that still underemphasises other areas! 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? How to do it: Building your Marketing Mix is relatively simple, but should be based on a deep understanding of the marketing sector you’re in. Understanding it in practice: defining your Marketing Mix is essential to establishing the company’s strategic position and to being able to connect with the right audience.
Over time, Booms and Pitner added three extendedA a€?service mix Pa€™s': Participants, Physical evidence and Processes, and later Participants was renamed People.
Promotion: Directors speak at events, webinars, useful guides that are amplified by SEO and effective with SEO.
Partners: Hubspot looks to form partnerships with major media companies such as Facebook and Google plus local partners including Smart Insights who it is collaborating with on research in Europe.
The 7P’s model is well established in marketing theory by the liked of Chaffey and McCarthy, though more importantly it has been used by many large and well established organisations if you take a look published corporate 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. For example, an alternative culture neighborhood in Rio de Janeiro is totally different from one in Sao Paulo, and so on.

This involves both digital marketing such as affiliate links, FanPage, etc., and offline strategies such as outdoors and newspaper ads.
The four Ps (marketing mix) are about your own market placement and the harmony between the 4 P elements.
LUZ develops corporate management spreadsheets, including marketing and strategy spreadsheets, that will most certainly help you analyze your 4 Ps! Today, it's recommended that the full 7Ps of the marketing mix are considered when reviewing competitive strategies. You can easily tell that they forced it by extending the model to seven because several of the P’s have multiple meanings which simply confuse the practitioner. The extended marketing mix of People, Process and Physical Evidence represent essential components of service industries. 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.
Therefore, let’s walk through a practical example with a product that’s familiar to all of us: Bottled Water. What you can’t do is sell a luxury product in places where they won’t be valued, or sell female products with advertisements aimed at men, and so forth!
There are also other strategies, such as psychological price, pay what you’d like, auctions, etc.

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