Embellish the Extra P's Of Marketing Mix
To be successful in business, you must develop the habit of thinking in terms of exactly who is going to carry out each task and responsibility. Many of the best business plans ever developed sit on shelves today because they could not find the key people who could execute those plans
The 7Ps of the marketing mix can be discussed as:[/b]
Product[/b] - 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 products.
Price[/b] - Pricing must be competitive and must entail profit. The pricing strategy can comprise discounts, offers and the like.
Place[/b] - 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[/b] - 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. The third habit in marketing and sales is to think in terms of promotion all the time. Promotion includes all the ways you tell your customers about your products or services and how you then market and sell to them. Small changes in the way you promote and sell your products can lead to dramatic changes in your results. Even small changes in your advertising can lead immediately to higher sales.
People[/b] - 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. The final P of the marketing mix is people. Develop the habit of thinking in terms of the people inside and outside of your business who are responsible for every element of your sales and marketing strategy and activities. An essential ingredient to any service provision is the use of appropriate staff and people. Recruiting the right staff and training them appropriately in the delivery of their service is essential if the organization wants to obtain a form of competitive advantage. Consumers make judgments and deliver perceptions of the service based on the employees they interact with. Staff should have the appropriate interpersonal skills, attitude, and service knowledge to provide the service that consumers are paying for. Many British organizations aim to apply for the Investors In People accreditation, which tells consumers that staff are taken care of by the company and they are trained to certain standards.
Process[/b] - 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)[/b] - 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.
Positioning[/b]: You should develop the habit of thinking continually about how you are positioned in the hearts and minds of your customers. How do people think and talk about you when you're not present? How do people think and talk about your company?
Packaging:[/b]
Improvements in the packaging of product or service can often lead to completely different reactions from your customers. Packaging refers to the way your product or service appears from the outside. Packaging also refers to your people and how they dress and groom.
Define the Service(s): a services features list[/b]
Management legal services
Employment problem prevention
Wrongful dismissal
Severance proposals/packages
Management and union relations and negotiation
Human rights
Workers safety, health, environment, and more
Define the Service(s): a benefits list[/b]
High success rate in management-union negotiations
Excellent reputation
Timeliness: quick action and available outside of the regular hours
Practical and cost effective advice
Lean firm structure – easy and direct access your lawyer
Strong understanding of business environment
Comprehensive database to research similar cases
Answers to your questions: solutions to your problems
Unique Advantages:[/b]
Skills of highly trained and experienced staff
Reputation as a highly successful negotiations firm
Focus on industry-specific planning and implementation
Focus on business to business environments
Price[/b]:
Focus on bundle pricing strategies: for example - monthly retainer; annual retainer; all services bundled for a set rate; certain services bundled together for better pricing – e.g. employee problem prevention, wrongful dismissal and severance proposals/packages.
Prices/billings compared and analyzed annually against top three competitors
Costs analyzed monthly – cost containment and reduction a key strategy for competitive pricing
Promotion[/b]:
Advertising programs: local newspapers, local radio, local magazines, business trade journals
Personal selling: Sales and Marketing staff; face-to-face
Direct marketing campaigns to targeted and existing clients; including permission-based email marketing
Educational programs to existing clients and delivered to new clients
Participation in business and trade associations: networking with clients
Website: search engine optimized
Newsletter: hot topics
Place or Distribution:
Direct sales to business clients
To be successful in business, you must develop the habit of thinking in terms of exactly who is going to carry out each task and responsibility. Many of the best business plans ever developed sit on shelves today because they could not find the key people who could execute those plans
The 7Ps of the marketing mix can be discussed as:[/b]
Product[/b] - 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 products.
Price[/b] - Pricing must be competitive and must entail profit. The pricing strategy can comprise discounts, offers and the like.
Place[/b] - 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[/b] - 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. The third habit in marketing and sales is to think in terms of promotion all the time. Promotion includes all the ways you tell your customers about your products or services and how you then market and sell to them. Small changes in the way you promote and sell your products can lead to dramatic changes in your results. Even small changes in your advertising can lead immediately to higher sales.
People[/b] - 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. The final P of the marketing mix is people. Develop the habit of thinking in terms of the people inside and outside of your business who are responsible for every element of your sales and marketing strategy and activities. An essential ingredient to any service provision is the use of appropriate staff and people. Recruiting the right staff and training them appropriately in the delivery of their service is essential if the organization wants to obtain a form of competitive advantage. Consumers make judgments and deliver perceptions of the service based on the employees they interact with. Staff should have the appropriate interpersonal skills, attitude, and service knowledge to provide the service that consumers are paying for. Many British organizations aim to apply for the Investors In People accreditation, which tells consumers that staff are taken care of by the company and they are trained to certain standards.
Process[/b] - 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)[/b] - 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.
Positioning[/b]: You should develop the habit of thinking continually about how you are positioned in the hearts and minds of your customers. How do people think and talk about you when you're not present? How do people think and talk about your company?
Packaging:[/b]
Improvements in the packaging of product or service can often lead to completely different reactions from your customers. Packaging refers to the way your product or service appears from the outside. Packaging also refers to your people and how they dress and groom.
Define the Service(s): a services features list[/b]
Management legal services
Employment problem prevention
Wrongful dismissal
Severance proposals/packages
Management and union relations and negotiation
Human rights
Workers safety, health, environment, and more
Define the Service(s): a benefits list[/b]
High success rate in management-union negotiations
Excellent reputation
Timeliness: quick action and available outside of the regular hours
Practical and cost effective advice
Lean firm structure – easy and direct access your lawyer
Strong understanding of business environment
Comprehensive database to research similar cases
Answers to your questions: solutions to your problems
Unique Advantages:[/b]
Skills of highly trained and experienced staff
Reputation as a highly successful negotiations firm
Focus on industry-specific planning and implementation
Focus on business to business environments
Price[/b]:
Focus on bundle pricing strategies: for example - monthly retainer; annual retainer; all services bundled for a set rate; certain services bundled together for better pricing – e.g. employee problem prevention, wrongful dismissal and severance proposals/packages.
Prices/billings compared and analyzed annually against top three competitors
Costs analyzed monthly – cost containment and reduction a key strategy for competitive pricing
Promotion[/b]:
Advertising programs: local newspapers, local radio, local magazines, business trade journals
Personal selling: Sales and Marketing staff; face-to-face
Direct marketing campaigns to targeted and existing clients; including permission-based email marketing
Educational programs to existing clients and delivered to new clients
Participation in business and trade associations: networking with clients
Website: search engine optimized
Newsletter: hot topics
Place or Distribution:
Direct sales to business clients