A-LEVEL Business （Marketing mix ）

 

Marketing Mix

 

The marketing mix (also known as the 4 Ps) is a foundation model . The marketing mix has been defined as the "set of marketing tools that the firm uses to pursue its marketing objectives in the target. Thus the marketing mix refers to four broad levels of marketing decision, namely: product, price, promotion, and place.

 

As well as the original 4P’s ，an additional 3P’s must be implemented and managed.
 

People

Process

Physical Evidence.

 

 

The definition of 4P

 

 

The Extended Services Marketing Mix.

 

People: any person coming into contact with customers, who can affect value for Customers

 

 

Those people that interact with the consumer can greatly affect the value that is received.

 

 The company must carefully recruit the right staff and train these staff.
 

 It is essential that staff are:
 

– Technically competent
 

– Deliver high standards of customer service
 

– Able to promote products through personal selling

 

Process: the systems used to create, communicate, delivery and exchange an offering.
 

The process delivers the service in a way that matches or hopefully exceeds customer expectations.
 

– Defines the manner in which the service is coordinated and delivered Factors that help deliver high level of service

 

– Management of customers’ functional and service expectations
 

– Attention focused on the delivery of effective and efficient service to meet expectations
 

– Measuring and monitoring systems

 

Physical evidence: tangible cues that can be used as a means to evaluate service quality prior to purchase