The 7 Ps of marketing | Business QueenslandIf you are running a retail business - whether bricks and mortar or online - there are five core principles you need to adhere to. The main retail principle to master is: the customer is king. They should be the centre of your business, and everything you do must revolve around customer needs. Knowing them, and focusing on them in everything you do, will help you grow your business and your team. So, you need to address and improve your understanding of your customer.
Philip Kotler: Marketing
Principles in Marketing (7734)
LESSON 4-Promotion mix-direct selling, advertising, sales promotion and public relations. LESSON 5-Brand evaluation and new trends in marketing. LESSON.
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Search the site:. I'm looking for: Search. Near me:. Offering: Search. Level 2 focuses on the knowledge needed for greater professional responsibility. This includes the principles of marketing theory, digital marketing and understanding the relationship between sales and marketing.
Once you've developed your marketing strategy, there is a "Seven P Formula" you should use to continually evaluate and reevaluate your business activities. These seven are: product, price, promotion, place, packaging, positioning and people. As products, markets, customers and needs change rapidly, you must continually revisit these seven Ps to make sure you're on track and achieving the maximum results possible for you in today's marketplace. To begin with, develop the habit of looking at your product as though you were an outside marketing consultant brought in to help your company decide whether or not it's in the right business at this time. Ask critical questions such as, "Is your current product or service, or mix of products and services, appropriate and suitable for the market and the customers of today? Whenever you're having difficulty selling as much of your products or services as you'd like, you need to develop the habit of assessing your business honestly and asking, "Are these the right products or services for our customers today? Is there any product or service you're offering today that, knowing what you now know, you would not bring out again today?