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Marketing professionals and specialist use many tactics to attract and retain their
customers. These activities comprise of different concepts, the most important one being
the marketing mix. There are two concepts for marketing mix: 4P and 7P. It is essential to
balance the 4Ps or the 7Ps of the marketing mix. The concept of 4Ps has been long used
for the product industry while the latter has emerged as a successful proposition for the
services industry.

The 7Ps of the marketing mix can be discussed as:

Product - It must provide value to a customer but does not have to be tangible at the same
time. Basically, it involves introducing new products or improvising the existing

Price - Pricing must be competitive and must entail profit. The pricing strategy can
comprise discounts, offers and the like.

Place - It refers to the place where the customers can buy the product and how the
product reaches out to that place. This is done through different channels, like Internet,
wholesalers and retailers.

Promotion - It includes the various ways of communicating to the customers of what the
company has to offer. It is about communicating about the benefits of using a particular
product or service rather than just talking about its features.

People - People refer to the customers, employees, management and everybody else
involved in it. It is essential for everyone to realize that the reputation of the brand that
you are involved with is in the people's hands.

Process - It refers to the methods and process of providing a service and is hence
essential to have a thorough knowledge on whether the services are helpful to the
customers, if they are provided in time, if the customers are informed in hand about the
services and many such things.

Physical (evidence) - It refers to the experience of using a product or service. When a

service goes out to the customer, it is essential that you help him see what he is buying or
not. For example- brochures, pamphlets etc serve this purpose.

The New Marketing Mix

Have I convinced you that seeing marketing in terms of the traditional marketing mix of the 4Ps or the
service marketing mix of 7Ps is too simplistic?

So how does the new marketing mix appeal - the 27P's of Marketing (and counting)

1. Product

2. Price

3. Promotion

4. Place

5. People

6. Process

7. Physical evidence

8. Purpose

9. Purchaser

10. Push/pull

11. Personal relationships

12. Positioning

13. Packaging

14. Persuasion

15. Performance

16. Profitable

17. Proactive

18. Pull together

19. Perform

20. Permission

21. Pain

22. Pleasure

23. Periodic

24. Persistent

25. Partners

26. Psychology

27. Perceptions

OK what key marketing concept have I forgotten? Inevitably there are bound to be things that I have
missed so please leave a comment and let me know.