Marketing
The four Ps (and seven Ps)
Last reviewedWhat is The four Ps (and seven Ps)?
The marketing mix: product, price, place and promotion. For services, three more are often added: people, process and physical evidence.
When should you use The four Ps (and seven Ps)?
Launch and marketing questions, to plan how to bring something to market.
What are its limits?
Useful for the how, not the whether. Do not lead a case with it.
How do you tailor it to a case?
Apply it after you have decided the move is worth making, to plan the rollout.
Where does it come from?
E. Jerome McCarthy (1960), organizing Neil Borden's idea of the marketing mix. The three extra Ps for services come from Bernard Booms and Mary Jo Bitner (1981).
Use a framework as a source of ideas, then put a structure built for this specific problem on the table. Reciting a framework by name is a common way to lose marks.