Building a framework for success with the 7Ps of Marketing
We recommend this article by San Chima to any businesses. Building a framework for success with the 7Ps of Marketing.
The business landscape is always changing. Businesses that stand still for too long can find themselves left behind. This is one of the reasons why we must always find room to grow and expand in our businesses. In a landscape of uncertainty and change, businesses can find firm ground with a practical framework to evaluate themselves on; one that helps them accurately pinpoint areas to improve and streamlines them for success. This is what can be achieved with proper implementation of the 7P’s.
As entrepreneurs we present value to consumers in the form of a product or service. Since the product or service lies at the core of what we do, there is a lot for us to consider. The fundamental question is always: how can we develop our products or services? We can achieve this by effectively tailoring our product or service to fit the task the consumer wants it for, making sure the product is what the consumer expects. One of the clearest ways a business presents value to its customers is in the form of Image and branding. We should work not only on quality but on the presentation of the quality of the product and its features.
Buyers will always consider cost when weighing up our business compared to other service providers in our industry. We can investigate our pricing by critically studying the optimal pricing of our service, based on value to the customer. Here the 4 key factors for us to study would be: competitor’s reputation, low- cost service providers, high-cost…
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