The 8P's of the Extended Marketting Mix

Marketing mix is now widely used as a tool in the marketing professionals to market their products. This model consists of 4P factors, those are price, product, promotion, and place. This model is usually used in the form of physical goods.

Marketing mix has been extended by adding 3P factor into 7P, those are  people, process, and physical evidence, in order to meet the needs in the field of services marketing.
The question now is, whether there is a possibility to extend 7P factor?
And what is the appropriate factor?

As a result of discussions within the group, we decided to extend  one more factor by adding  philosophy as part of the overall factors that have been there.

Philosophy mean vision, mission, and orientation of the company. It is considered to be an important factor because it can affect all parts of the company in providing value and excellent service to customers.

So, 8 P factors as a whole can be seen as follow: 

Price, Product, Promotion, Place, People, Process, Physical Evidence, Philosophy

Class Notes from Marketing Class (R50) MB IPB

Class Notes from Marketing Class (R50) MB IPB 

Thursday, July 25th, 2013

The most interesting thing of marketing management lecture on Thursday, July 25th, 2013 is about "halal food".

 

For Moslems, eating halal food products is an obligation. Many companies that produce food in the world failed to penetrate the market in several countries with a large demand for halal food products, such as Indonesia.

 

Some countries with a majority non-moslem population, such as Australia actually caught this as a business opportunity to become one of the biggest exporters of halal food products in the world. They believe that the demand for halal food is very high and broad market potential. This was followed by the increasing demand halal food by parties other than the non-moslem because they believe that kosher food is more hygienic guarantees in terms of both substance and method of processing. Therefore, the reality is the case today, a lot of foreign companies are vying for halal food label pinned on their products to be accepted in the market.

It's a valuable lesson, that in the business world, creative thinking is needed so the company can still exist in the increasingly fierce competition as a result of globalization. A plunge in the business world that would have added value if in doing SWOT analysis (Strength, Weakness, Opportunity, and Threat), they are also able to transform weakness into strenght and turn threat into opportunity, because it does not rule out the possibility that there are other things that may be currently this is still considered as a weakness and threat became a strenght and opportunity in the future, as happened in the case of halal food.

The class was presented by Prof. Dr. Ir. Ujang Sumarwan , MSc
www.ujangsumarwan.blog.mb.ipb.ac.id
sumarwan@mb.ipb.ac.id

Book of Refference:  

Pemasaran Strategik : Strategi untuk Pertumbuhan Perusahaan dalam Penciptaan Nilai bagi Pemegang Saham 

Written by : Ujang Sumarwan, Agus Djunaidi, Aviliani, H.C.Royke Singgih, Jusup Agus   Sayono, Rico R Budidarmo, Sofyan Rambe. 2009 Publisher : Inti Prima, Jakarta

 

Pemasaran Strategik  : Perspektif Value-Based Marketing dan Pengukuran Kinerja.  Written by : Ujang Sumarwan, Achmad Fachroji, Adman Nursal, Arissetyanto Nugroho, Erry Ricardo Nursal, Ign Anung Setiadi, Suharyono, Zeffri Alamsyah. 2010 Publisher : IPB Press, Bogor