As an aspiring marketing professional, you must have come across the jargon of marketing plans and marketing mix several times. In this blog, I will focus on making a marketing plan and the 7Ps of marketing mix.
Let us start by understanding why you need 7Ps and how to use this marketing mix. Then I will also discuss 7Ps of marketing with some examples.
7Ps of marketing
Let us look at the picture below.
The 7Ps of marketing is an extension of 4Ps of marketing mix, which is described here.
Now, let us look at some examples.
Why you need 7Ps of Marketing Mix?
As a budding marketing professional, you must understand why you need the 7Ps of marketing. Consider you are planning to launch a product in the market. This marketing mix will help you strategically plan and take action for selling this product in the market.
The 7Ps of marketing ensures that your target audience is satisfied and your brand is appreciated. Implementing this will help you develop a holistic and strategic marketing plan for standing out from the competitors.
How to use the 7Ps Marketing Mix strategy model?
Now, with an understanding of the marketing mix, you must be wondering how to implement this model for developing a marketing plan. Let us now look at an example. Here, I have cited an example of a marketing plan to launch an in-house men's apparel brand.
To understand how to use the 4Ps of marketing mix to develop a market plan, refer to this article.
Summary
The 7Ps of marketing mix helps us strategize the overall marketing plan. However, the SOSTAC model is also relevant for developing a marketing plan for the digital era. Now, as you have already a fair understanding of the marketing mix, I will cover the SOSTAC model and its application in the next chapter.