Rabu, 31 Juli 2013

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 tha
t 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

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