The concept of the 7 Ps, including the original 4 Ps in marketing, is something we all learned in school, but it’s still relevant in our work environments today. The business world is constantly changing, so blending traditional marketing methods with new online advancements becomes important. Now, various digital marketing agencies use these terms in their strategies to create effective marketing plans. The original 4 Ps of marketing were product, price, place, and promotion, and if 3 more Ps are added, then it will be people, process, and physical evidence, which is 7 Ps. Let’s explore how it blends with digital marketing platforms.
1. Product:
In an original concept, the product is something a company offers to its customers, and it could be clothing, shoes, a service or anything through traditional marketing methods. But digital marketing platforms now display offers and sales. Through the help of a website, businesses can display more products to a very large audience by spending less compared to traditional methods.
Now, businesses are using digital platforms such as websites, e-commerce stores, and social media channels to display products with detailed descriptions, high-quality images, and videos to enhance product appeal, which leads to a wide online presence. Through in-depth data analytics, the business can understand customer preferences and offer personalized products, enhance the user experience, and increase the chances of purchase.
For example, platforms like Amazon, YouTube, Netflix and many more use customers’ browsing history to recommend products, videos, or songs. This enhances the user experience and ultimately increases sales.
2. Price
Pricing is crucial for any product customers are willing to pay for, but it can be challenging for many businesses. Price increases can drive customers to look for alternatives, while price decreases can impact profits. With the rise of digital marketing, companies are adopting more modern pricing strategies.
Digital marketing has revolutionized pricing. It’s no longer just about setting a price and sticking to it. Now, businesses have various options to generate revenue online. Subscription models are one strategy where customers pay a regular fee for continuous access to content or services, which helps build loyalty and ensure steady cash flow.
Many businesses also use freemium pricing strategies, offering basic features for free and charging for premium options. This approach effectively attracts new customers. Another popular strategy is bundle pricing, which groups different digital products or tools at a discount, making it more appealing for users to try out new offerings.
For example, take YouTube, which has freemium. You can watch videos for free with ads or pay a premium subscription for an ad-free experience and extra perks.
3. Place
In the past, customers could only buy products from a specific physical location. However, thanks to digital marketing, things have become much simpler. Now, manufacturers can sell their products directly to buyers, eliminating the need for multiple middlemen.
Being present on both online and offline channels ensures a smooth shopping experience for customers. Websites like Amazon and Etsy offer businesses access to large audiences and existing customer bases. The Direct-to-Consumer (D2C) model allows brands to sell directly to customers online.
Simply put, a place is where your customers are, whether online, offline, or both. It’s all about delivering a consistent brand experience across all channels, utilizing the unique features of each platform to offer convenience, foster connections, and boost sales.
With technology constantly evolving, we can anticipate even more creative approaches, such as virtual reality shopping or voice-commerce through smart home devices. By selling products through social media platforms or mobile apps, businesses can reach a wider audience and offer customers a more convenient shopping experience.
4. Promotion
Previously, promotion strategies were limited to television, print, and billboards. However, with the rise of digital marketing, there are now more opportunities to reach audiences through various online platforms. These platforms are crucial in engaging target audiences with innovative strategies that capture attention and sustain user engagement over time.
Businesses use different tactics like content marketing to grab their audience’s attention by sharing valuable and relevant content. This helps build trust and establishes the company as an industry expert, aiming to create long-term customer loyalty rather than just making quick sales.
Another effective strategy is teaming up with social media influencers with a big, engaged following. These influencers are seen as experts in their fields and can promote products in a genuine and trustworthy way, boosting brand visibility and credibility.
Viral marketing is another method of creating content that people can’t help but share on social media. It is usually a video with mixed humour and product information to rack up millions of views and a ton of new subscribers and engage people.
5. People
The concept of people in marketing is related to all individuals directly involved in the marketing and exchange of a product or service. It primarily focuses on the human elements that influence a customer’s experience with a brand.
This includes the employees who deal with customers, like salespeople, customer service representatives, and delivery personnel. It also covers the customers and how they interact with each other regarding the product or service. This also emphasizes hiring, training, and motivating employees to give customers top-notch experiences.
In the modern aspect, two key strategies are customer service and influencer marketing. Modern customer service often utilizes chatbots and social media to provide efficient, round-the-clock support, this includes live chats. This approach builds trust through personalized interactions and helps gather valuable customer data.
Influencer marketing, on the other hand, involves partnering with social media personalities to reach target audiences more effectively. This strategy extends a brand’s reach, particularly into niche markets, by leveraging the influencer’s credibility and follower base.
6. Process
In marketing, process refers to the methods and systems used to deliver products or services to customers. This includes all activities from the initial customer contact to post-purchase support.
In the modern concept, the process of digital marketing has two key strategies: automation and data analytics. Automation handles email marketing, social media updates, and customer interactions.
Then, there is data analytics, which uses information about customers and campaigns to make smart marketing choices and refine strategies. These approaches save you time and effort, which boosts efficiency.
Plus, decision-making with the support of data makes targeting and strategy hit the mark. Together, these processes streamline marketing operations, enhance scalability, and contribute to a more personalized and responsive customer experience.
7. Physical Evidence
Physical evidence technically refers to the tangible elements that customers come across when engaging with a brand. In modern terms, this is especially crucial for services or digital products. This means creating tangible proof of a product or service’s quality and value. This element includes user reviews and testimonials displayed on websites, e-commerce platforms, and social media, serving as powerful social proof to influence potential buyers.
The detailed case studies also offer a concrete example of how products or services have successfully addressed customer needs, built credibility and demonstrated real-world value.
High-quality visual content, including images, videos, and virtual tours, provides customers with tangible evidence of product features and quality, aiding in informed decision-making. TripAdvisor uses physical evidence by featuring user-generated reviews, ratings, and photos, offering travellers reliable information for their booking decisions.
This approach is valuable because it builds credibility, reduces purchase anxiety by providing tangible proof of product quality and customer satisfaction, and significantly influences buying decisions through positive reviews and testimonials, ultimately encouraging potential customers to make a purchase.
Wrapping Up:
Mixing the 7 P’s and digital marketing tactics creates a comprehensive approach. This covers every bit of today’s marketing. This whole method enhances better’s customer experience, improves ROI through data-driven decisions and gives an upper hand in the online space. This can effectively engage their target audience across multiple channels, optimizing their marketing mix for the digital age. This method meets today’s market needs for future success.
