Friday, September 23, 2005

How many P's in your marketing pod?

The September issue of Marketing Treasures is out and full of good stuff (10 tips for running focus groups, sample marketing plans and strategies, and more).  One article called “What is a Marketing Mix” got me thinking.  In it, Chris suggests there are 5 P’s (The four basics:  Product, Price, Place, Promotion plus Public Relations).  I’ve heard lots of opinions about how many and what kinds of P’s there are (I’ve seen up to 10!).  A number of texts pertaining to services marketing (that’s us!) would say there are 7 P’s.  The additional 3 are:  People, Process and Physical Evidence.  Here are the details in a nutshell:

  • People:  This would be anyone and everyone involved in providing the service.

  • Process:  How the service is carried out.

  • Physical Evidence:  The environment in which the service is delivered; Has an effect on how people perceive the quality of the service experience.

I do find that these 3 P’s are helpful to think about when it comes to services.  For me, the benefit of thinking of marketing in terms of P’s is threefold:  1.  to make sure nothing important has been overlooked, 2.   to have a model with which to evaluate the logic behind the service offering (do all these pieces make sense together and individually?), and 3.  to have a simple way to help understand something complex.

So whatever P’s tickle your fancy, try not to lose sight of what they center around:  your target market.  :)

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