H E MARKET

F T IN
O

GM
7 PS

IX
“Product” refers to the goods or services that you
offer and how they meet your customers’ needs and
desires. This extends to quality, warranties,
packaging, features, variety of products or service
levels, and so on.

Price is how much customers pay — or are willing

to pay — for your product or service. It
encompasses factors such as payment methods,
financing/credit terms, discounts, price-matching,
referral bonuses, affiliate payments, loyalty
discounts, free trials, subscription options, etc.

“Place“ is where and how a company will make its

products available to its customers. It includes the
channels a company uses to sell its products, such
as local stores, e-commerce websites, personal
networks, direct sales, affiliates, and so on. It also
includes logistics such as distribution centers,
product transport, and warehouses and inventory.

Promotion refers to the way you communicate with

potential customers. It includes what you say, who you
say it to, what channels you use to reach them, and how
often you do it. Activities in the promotional mix fall
within advertising, direct marketing, and personal
selling and can encompass search engine marketing,
social media, billboards and signage, print advertising,
and much more.

The People component of the marketing mix

encompasses everyone who is on your team. This
includes managers, customer service reps, product
engineers, production workers, salespeople, and support
staff. It also includes the hierarchy of relationships at an
organization, which is meant to help employees get
things done efficiently and work together smoothly.

Process in the marketing mix refers to the flow that a

company uses to deliver its product or service to the
customer. This includes the logistics involved in
building and marketing a product, from R&D through
to the final production line. It can also extend to how
the marketing team works together to create
campaigns.

Physical evidence includes tangible items that a

customer can see or touch, like documentation,
receipts, product reviews, demos, packaging, your
website, and other materials that provide
information about your brand. It functions as proof
for the customer that the company or product lives
up to its promises.