The basic major marketing management decisions can be classified in one of the following four categories, namely Product, Price, Place (distribution) and Promotion. Product: It is the tangible object or an intangible service that is getting marketed through the program. Promotion: This represents all of the communications that a marketer may use in the marketplace to increase awareness about the product and its benefits to the target segment. So how does a marketer strategize to attain success in a marketing program, using these 4 P’s? Offering specificity introduces the contextual customization of what needs to be done to address the questions raised in each of these 4 Ps of Marketing. Product Marketing Strategy helps manufacturers with product marketing, product strategy, and marketing strategy to maximize profitability over the product life cycle. Marketing Mix Strategies are continuing to evolve from their original beginnings in the 1940s.
In the continuing evolution of the marketing mix strategies, the 4 Ps grew to be 7 Ps and then 8 Ps. AHMA’s 2000 International Hardware Week Education Program was a tremendous success this year due in no small part to your involvement and the presentation you made to participants. To effectively market a product or service there are four things you need to get right: Product, Price, Place and Promotion.
As the product is the item being sold to the customer, the thing that will bring in money, its features and design need careful consideration. The answers to these questions will help a firm design, package and add value to its products. There are lots of different pricing strategies but every strategy must cover at least your costs unless the price is being used to attract customers to the business (loss leader pricing). The Place element of the marketing place is about where the product is made, where is it stored and how is it transported to the customer.
The following link provides further information on place: Marketing Mix and Place Strategies. A successful product or service means nothing unless the benefit of such a service can be communicated clearly to the target market. Promotional activities for consumer sales will be different to promotional activities for business to business sales. E-Marketing Mix: A massive increase in internet sales has changed the way the marketing mix is implemented by firms. 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?
Over the next two years, how will your budget change for social media marketing (Twitter, Facebook, MySpace)?
We use charts and diagrams to communicate ideas and concepts because visuals help us eliminate the distraction of details that don't represent the true picture of a situation.
For example, a spreadsheet of daily revenue for every product sold has so many details it's hard to see the overall trend and patterns of customer behavior.
Some time ago I discovered a drawing format called "mind maps." This type of drawing starts with a central concept, then topics and subtopics radiate out from the center. Mind maps are used to capture and display information visually like an outline organizes information textually. So, I started evaluating the many mind map software products to find the best drawing tool to make mind maps for marketers. When I came to SmartDraw I was surprised that it did other types of charts, diagrams, and graphs in addition to mind maps. I found that SmartDraw is good for marketing executives because so many of the artistic functions are automated. Many types of diagrams use symbols and shapes, such as flowcharts, organization charts, and mind maps. And, like many drawing applications, you can format, rotate, layer, and group the symbols and shapes.
In addition to all the diagrams that use symbols and shapes, there are many other visual templates that are used frequently by marketers. Marketers use a lot of 2-by-2 matrix charts for SWOT and BCG matrix charts, as well as matrix charts to show correlations. There are also templates for "funnel" diagrams such as e-commerce conversion funnels and sales process funnels.


I do small group workshops and group facilitation, so I like to work within SmartDraw during those meetings. Since I started out looking for a good mind map program for marketers, I'll share what I learned about the mind map function in SmartDraw. The mind map function is different from traditional mind map programs, which is generally a good thing. Traditional mind map programs add major topics to a drawing starting at the 1 o'clock position and add them clockwise around the center.
Another difference between SmartDraw's mind map and other mind map programs is how icons and images are handled in a shape. Mind maps are frequently used to plan projects and tasks — the top levels are programs and their projects, and lower levels are tasks and sub-tasks. In addition to viewing a mind map as a Gantt project chart, SmartDraw can convert a mind map into a timeline drawing.
The strategic marketing mind map links to a SWOT diagram, a product line matrix, and other charts (created in SmartDraw), as well as spreadsheets and, of course, other mind maps. As a marketing organization becomes comfortable creating these charts, diagrams, and graphs, the whole team adopts visual thinking techniques.
While there are many special-purpose graphics programs available, it's difficult for a team of people to use multiple programs to collaborate.
SmartDraw has the best collection of templates and features for marketing managers and executives to create outstanding visuals.
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? This is one of the preliminary knowledge every marketer must have and is considered to be the basics of every marketing theory, which emerged henceforth. Tangible products may be items like consumer goods (Toothpaste, Soaps, Shampoos) or consumer durables (Watches, IPods).
If the price outweigh the perceived benefits for an individual, the perceived value of the offering will be low and it will be unlikely to be adopted, but if the benefits are perceived as greater than their costs, chances of trial and adoption of the product is much greater. Promotion has four distinct elements: advertising, public relations, personal selling and sales promotion. Our authors are educators from top QS ranked universities and practitioners from multinational enterprises. Other strategists came along and developed the 4 Cs of Consumer, Cost, Communication and Convenience. His guidance through collaboration and the educational materials he has developed has provided me the ability to better understand and grow my products and business. Whether the firm is manufacturing the product or purchasing the product for resale, they need to determine what product features will appeal to their target market. The place for each of these things should ensure that the product gets to the right place at the right time without damage or loss. Promotion is any activity to raise awareness of a product or to encourage customers to purchase a product.
An increased focus on environmental issues, has contributed to a rise in the demand for environmentally friendly products and services.
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. Marketing is a very diverse discipline, and mind maps are an effective way to organize plans and project tasks.
I was looking for a mind mapping program that makes professional looking, presentation quality diagrams. And, for people who are "artistically inclined," the formatting and control make it easy for them to create stunning charts and diagrams. SmartDraw places symbols and shapes in a drawing, keeps them aligned, and can also automatically style and color them. SmartDraw provides a separate template for each type of visual, which makes it easy to work in the context of that drawing. Topics are added to the left and right of the center, which keeps the drawing balanced looking — but doesn't automatically maintain the order in which they were created. Then, as we develop their strategic marketing plan, I'll develop a mind map showing how a sound marketing strategy can drive their marketing communication and sales programs. By having so many useful marketing templates available, SmartDraw really makes it easy for non-artists to create visuals that have a professional look and presentation quality.


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. Intangible products are service based like the tourism industry and information technology based services or codes-based products like cellphone load and credits. This may include any physical store (supermarket, departmental stores) as well as virtual stores (e-markets and e-malls) on the Internet. Advertising may include using specialty packaging to showcase products, utilizing promotional products for your company, or online ads. In there very essence, the 4 Ps of marketing is actually a framework that allows the marketer to structure the value proposition of an existing product (or a new product at the time of launch) so as to garner the highest mindshare by distinctly structuring the same. Robert's expert knowledge along with his thorough and calm nature is a breath of very supportive and valuable fresh air. The four elements should be viewed as one unit and structured to support each other; Otherwise a firm's marketing strategy will be confusing and uncoordinated. 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. As subtopics are added to a topic they are automatically given the same color as their parent topic.
Other mind map programs add one or more tiny icons to a shape's text, which can make a rather distracting mind map. And, for people who are comfortable with drawing programs, SmartDraw provides the control and flexibility needed to make creative visuals quickly.
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. This is crucial as this provides the place utility to the consumer, which often becomes a deciding factor for the purchase of many products across multiple product categories.
A certain amount of crossover occurs when promotion uses the four principal elements together (e.g in film promotion). However, that is easier said that done and many marketers fumble when it comes to playing with the real life nuances and bringing out a crisp value proposition. Sometimes the recipe was fairly standard, other times it would be developed as  things moved along. Ps or Cs is more a question of perspective as the Product is the definition of the features of the product required to meet the needs of the Consumer.
This article provides you with a quick introduction to each element and links if you would like more information. You will also need to consider competitor pricing and factors within your marketing environment. Many organisations have adapted their marketing strategies to capitalise on the consumer appetite for Environmentally Friendly Products. 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? Sometimes it was created from available ingredients and other times new ingredients were added. Click on this link to read more about how the marketing mix can be used to market environmentally friendly products and services. The 7 P framework is one of the most popular framework for deciding a marketing strategy, right from strategy formulation to actual implementation.
Every product is subject to a life-cycle including a growth phase followed by an eventual period of decline as the product approaches market saturation. To retain its competitiveness in the market, continuous product extensions though innovation and thus differentiation is required and is one of the strategies to differentiate a product from its competitors.



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