Service Marketing Mix || 7P's Of Marketing || Extended Marketing Mix
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3 سال پیش
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The core marketing mix has
The core marketing mix has four elements in it. They are - product, price, place and promotion. But for services, there are three (sometimes four) Extra elements that marketers need to consider. They are - People, Process, and Physical Evidence.
Patreon Link: https://www.patreon.com/user?u=36571443
Other videos in the Service Marketing Series:
Flower of service – Flower of Service Explained || Servic...
Service positioning – Service Positioning Explained || Posi...
Types of services – Types Of Services || Service Processe...
Starting with product. when we are talking about product, in this context, it’s the entirety of the service you are providing. What are you providing to the people, is it desirable, and up to the mark. And are there enough complementary services to go along with the core service. Core service would be, if you are a gym owner, the machines your customers will use and how you can add value to them.
Supplementary services would be if you have parking spots just for your customers or not. Safekeeping their luggage, consulting the customers based on their needs. Fulfilling any exceptional needs. That would be the product part, in the marketing mix.
Then you have price. Well, how much are you going to charge for your services. And that is going to depend on a lot of things. Most of them will be discussed when I make a video about the pricing strategy for services. Anyway, for now, keep in mind that prices can be increased and decreased from time to time depending on the demand. High demand, high price, low demand, low price. And sometimes that is connected to reducing the number of customers. Because, as a service, you will have a limited capacity to serve people. And if there are too many people coming at you demanding service, you cannot provide for all of them. And even if you try, it will not be the best service you can provide. So, increasing the price will make less people interested in you, hopefully you didn’t increase the price too much and there will be people that you can serve properly.
Place. A lot of businesses are moving to the online sectors, but there are services that need a suitable place to operate from. For example, the gym. The website for a gym can have instructional videos for people to get the basics of a workout. There can be paid course there as well. But, well, a gym needs to have a physical location where people can go to exercise. But in case of information processing services, the entire service process can be moved online and it will improve the overall experience of the customers. For example, online banking services. Well, there are different branches of banks. You can visit them at any time. but you don’t need to.
Promotion. Well, you have to promote your business to people. No matter what kind of business it is. You have to promote it. The things you need to do is, let people know you exist, convince them that you provide better service than others, or you are providing something that others cannot. Then convince people to spend money on the service. There are a lot of things you can do for that.
People. Here, people are a part of the service. And in some cases, the people are the main reason customers are attracted to a certain service. The best example is your barber. In case of restaurants, how the employees behave with the customers can make or break the service experience.
Then, process. Processes in this context mean the service design. How efficient a firm is in providing the service. And making sure everyone has a good experience at the service. The customer experience in case of a service is going to vary a lot. In the process design of the service, you need to make sure that there is a standardized procedure that is followed by everyone, and every customer gets a good experience with the service.
Physical evidence. Also called physical environment, or service-scape. Where is the service taking place and how it is designed? It will definitely vary depending on the type of service you are providing to the people. Do you want them to feel calm right after entering your service-scape, or do you want them feeling hungry, excited, and want them to spend more and more. For online businesses, the user interface is also a part of the service scape. How is the website designed, is it easy to use and understand?
Those were the three extra P.
Another P is sometimes added which is, productivity. That is, how much of the output you are getting from the amount of input you have. How well you are using the materials to produce the service.
Timestamps –
Introduction – 0:00
Product – 0:34
Price – 1:21
Place – 2:36
Promotion – 3:40
People – 4:32
Process – 5:17
Physical Evidence – 6:14
Productivity – 7:12
Bonus – 7:43
Outro – 8:08
Patreon Link: https://www.patreon.com/user?u=36571443
Other videos in the Service Marketing Series:
Flower of service – Flower of Service Explained || Servic...
Service positioning – Service Positioning Explained || Posi...
Types of services – Types Of Services || Service Processe...
Starting with product. when we are talking about product, in this context, it’s the entirety of the service you are providing. What are you providing to the people, is it desirable, and up to the mark. And are there enough complementary services to go along with the core service. Core service would be, if you are a gym owner, the machines your customers will use and how you can add value to them.
Supplementary services would be if you have parking spots just for your customers or not. Safekeeping their luggage, consulting the customers based on their needs. Fulfilling any exceptional needs. That would be the product part, in the marketing mix.
Then you have price. Well, how much are you going to charge for your services. And that is going to depend on a lot of things. Most of them will be discussed when I make a video about the pricing strategy for services. Anyway, for now, keep in mind that prices can be increased and decreased from time to time depending on the demand. High demand, high price, low demand, low price. And sometimes that is connected to reducing the number of customers. Because, as a service, you will have a limited capacity to serve people. And if there are too many people coming at you demanding service, you cannot provide for all of them. And even if you try, it will not be the best service you can provide. So, increasing the price will make less people interested in you, hopefully you didn’t increase the price too much and there will be people that you can serve properly.
Place. A lot of businesses are moving to the online sectors, but there are services that need a suitable place to operate from. For example, the gym. The website for a gym can have instructional videos for people to get the basics of a workout. There can be paid course there as well. But, well, a gym needs to have a physical location where people can go to exercise. But in case of information processing services, the entire service process can be moved online and it will improve the overall experience of the customers. For example, online banking services. Well, there are different branches of banks. You can visit them at any time. but you don’t need to.
Promotion. Well, you have to promote your business to people. No matter what kind of business it is. You have to promote it. The things you need to do is, let people know you exist, convince them that you provide better service than others, or you are providing something that others cannot. Then convince people to spend money on the service. There are a lot of things you can do for that.
People. Here, people are a part of the service. And in some cases, the people are the main reason customers are attracted to a certain service. The best example is your barber. In case of restaurants, how the employees behave with the customers can make or break the service experience.
Then, process. Processes in this context mean the service design. How efficient a firm is in providing the service. And making sure everyone has a good experience at the service. The customer experience in case of a service is going to vary a lot. In the process design of the service, you need to make sure that there is a standardized procedure that is followed by everyone, and every customer gets a good experience with the service.
Physical evidence. Also called physical environment, or service-scape. Where is the service taking place and how it is designed? It will definitely vary depending on the type of service you are providing to the people. Do you want them to feel calm right after entering your service-scape, or do you want them feeling hungry, excited, and want them to spend more and more. For online businesses, the user interface is also a part of the service scape. How is the website designed, is it easy to use and understand?
Those were the three extra P.
Another P is sometimes added which is, productivity. That is, how much of the output you are getting from the amount of input you have. How well you are using the materials to produce the service.
Timestamps –
Introduction – 0:00
Product – 0:34
Price – 1:21
Place – 2:36
Promotion – 3:40
People – 4:32
Process – 5:17
Physical Evidence – 6:14
Productivity – 7:12
Bonus – 7:43
Outro – 8:08
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