The 7 P’s of Marketing

Luminosity believes that a savvy marketer will use a marketing “tool kit” comprising seven (rather than five, as is often the case) tools, commonly referred to as the 7 P’s. The marketing tool kit ensures that a comprehensive mix of marketing strategies are implemented across all areas of your business. This integrated approach leverages effectiveness and maximises the return on your marketing spend.

The marketing tool kit comprises:

• Product
• Price
• Place
• Physical Evidence
• Processes
• People
• Promotion

Collectively, the 7 P's are used to create the all important 8th "P" - Perception, or Brand.

It has also been argued that an additional P for Public Relation should be added to the tool kit, however for now, most are happy to view PR as a subset of the promotions tool. Promotion is always the last element because it is formed on the basis of the previous elements. Sales is in fact an element of promotion. Sales and selling in isolation, will not achieve the same level of long term effectiveness that an integrated branding and marketing approach is likely to accomplish.

Like any piece of construction, if one part is built without considering what the other parts are designed to do, the outcome can be a building with too many walls and no roof. Each tool’s tasks, objectives and budget should be integrated into a coherent marketing program which would in turn be integrated with the overall business objectives. If the use of a previously specified marketing tool is not planned, the inevitable result is over expenditure and diluted results. As you know, you can’t build a house with only a hammer.

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