7Ps

Question 1

4p’s

Answer 1

product
promotion
place
price

Question 2

additional 3p’s

Answer 2

people
process
physical evidence

Question 3

7p’s model?

Answer 3

the marketing mix can be outlined by using the 4p’s model (for a product industry) or 7p’s (for a service industry)

Question 4

marketing mix?

Answer 4

set of marketing variables that a firm blends to product the response it wants in the market

Question 5

product?

Answer 5

considers what the customer is physically buying/experiencing

e.g., basic/actual/augmented product

Question 6

promotion?

Answer 6

aim to create awareness and interest for products/services and to persuade consumers to purchase

e.g., TV/radio, coupons, sales reps, sponsorships

Question 7

place (distribution)?

Answer 7

length, breadth and complexity of distribution channels

e.g., direct/indirect selling

Question 8

price?

Answer 8

considers prices charged to customers

e.g,, means of payment, discount schemes

Question 9

people (services)?

Answer 9

professionalism, friendliness, knowledge of staff delivering the service

Question 10

process (services)?

Answer 10

use of appropriate systems to enhance the service

Question 11

physical evidence?

Answer 11

customers can see/experience when they use a service