This article is one part of a series on successfully utilizing marketing frameworks. To start from the beginning, click here.
Marketing Framework #1: 7Ps Marketing Mix
This widely used model considers the stages of business strategy, beginning at conception and taking it to evaluation. The Ps stand for:
- Product: What’s being sold?
- Price: How much does it cost?
- Place: Where will the product be sold?
- Promotion: How will you communicate with your audience?
- People: Who is involved in the production, promotion, and distribution?
- Process: How will you deliver it to the customer?
- Physical Evidence: How will you prove to customers that your business exists?
When you utilize the 7P model, you’ll have the opportunity to analyze and optimize every aspect of your company and your strategy to improve your business.