The 7 Cs Compass Model is a framework in co-marketing symbiotic marketing. It has been criticized for being little more than the 4 Ps with different points of emphasis. In particular, the 7 Cs inclusion of consumers in the marketing mix is criticized, since they are a target of marketing, while the other elements of the marketing mix are tactics. The 7 Cs also include numerous strategies for product development, distribution, and pricing, while assuming that consumers want two-way communications with companies.
The concept of marketing mix combines all the essential elements that are required to promote your product and services and get them delivered to your customers successfully.
A set of strategic marketing tools that includes: Product, Place, Price, Promotion People, Process and Physical Evidence which enables a firm to produce the desired response from its target market. Usually a marketer can have a clear idea through key research whether a particular segment of Extended marketing mix product has its demands in the market.
In every market, there are certain products and services which are created to cater the needs and wants of the desired customers. This component also involves those people who are hired to fulfill the responsibilities and operations within the business.
This provides a sense of relief to the businesses where you have people who believe in the products and services that your business creates. Perhaps your competitors have the similar product but its how you deal with your customers makes all the difference and what persuades them to choose you more important in the future.
Product You must identify all the key points before creating the product. You must know whether you are introducing the right product for the target market. Next is Style, how does the product look like, its features in terms of its size, colors and so on.
How is it going to be branded? Price The Price is the next big thing for marketing a product. The target market will be somewhat unwilling to pay a higher price for your product. For this reason, the marketers need to analyze the competitors, their positioning strategy and how can you fit best in the market.
Promotion [large]Promotion is based on how you communicate your product to the customers.
This provides an assistance to make the right decision about purchasing a product. Promotion includes the following elements to be successful: Advertising, Sales promotion, direct marketing, online communication and Personal selling etc.
Place This element involves a lot of distribution method from transporting to the place where the customers will purchase the product; the right product to the right place at the right time is a hard-hitting task for marketers to experience.
Process This involves how the customers should be handled from the beginning till the end. In order to make your customers satisfied, the firm needs to take a control on part of the accessibility of the products, the payment method which must be accurate and quick, booking if required, speed and timing of delivery must be efficient.
Physical Evidence Physical evidence is basically the form of service that will be given to the customers.
This includes the facilities, the ambience to keep the customers at ease, the layout and the decoration to make the desired product more enthralling in the minds of the customers.
All seven of these components help in to initiate the marketing process.The marketing mix is a familiar marketing strategy tool, which as you will probably know, was traditionally limited to the core 4Ps of Product, Price, Place and Promotion.
It is one of the top 3 classic marketing models according to a poll on Smart Insights. The extended marketing mix is, as the name suggests, an extension of the marketing mix which was traditionally for rutadeltambor.com 4P’s are also known as product marketing mix.
As services came more into the picture it was seen that the 4p’s could not justify the marketing mix. The 7 Ps or Extended Marketing Mix of Booms and Bitner is a marketing strategy tool that expands the number of controllable variables from the four in the original Marketing Mix Model to seven.
The traditional Marketing Mix model was primarily directed and useful for tangible products. The extended marketing mix (7P's) is the combination of seven elements of marketing that aim to work together to achieve the objectives of a marketing strategy.
These 7 elements are: product; price; place; promotion; people; process and physical. the extended marketing mix on customer satisfaction among the non-star classified hotels, therefore this study sought to analyze the influence of extended marketing mix strategies on .
the extended marketing mix on customer satisfaction among the non-star classified hotels, therefore this study sought to analyze the influence of extended marketing mix strategies on customer satisfaction in the.