It's called the seven P's of marketing and includes product, price, promotion, place, people, process and physical evidence. As part of nearly every Marketing 101 course, students are taught a basic principle of marketing analysis, generally referred to as a marketing mix. Since the first 4 Ps are more applicable to tangible products, these additional principles are useful for service-based companies. These principles will help you make decisions about what to sell, who to sell it to, and how to retain customers.
However, it's helpful to have some guidelines that serve as basic principles that can help you determine the best course of action to market your company. These principles, which consist of product, price, place and promotion, date back to the 1940s and constitute the set of resources that a company must use to promote itself to its target audience. People, process (or positioning), and physical evidence (or packaging) were added to classic marketing principles. The classic principles of marketing, known as the 4 P's, were first defined several decades ago by a marketing professor at Harvard University.
The 7 P's of marketing are a set of key principles that belong at the heart of your marketing strategy. We'll break down each of them and provide you with a detailed definition, as well as practical tips and examples to help you know how to apply the principle to your brand. This principle can also refer to the entire customer experience journey, the service a customer receives from your company, from start to finish.