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The service marketing mix includes the traditional four P’s of product, price, place, and promotion, as well as three additional P’s: people, process, and physical evidence. Marketers must adjust their focus depending on the service being sold and the specific market.
The service marketing mix is a marketing concept that takes into account all the different aspects that come into play when trying to market a service to the public. Marketers must adjust the focus of different mix elements depending on the service being sold and the specific market they inhabit. Four of the mix elements, the so-called “four P’s”, which are product, price, place and promotion, are similar to the product marketing mix. Since the service business is inherently different from the business of selling products, the service marketing mix adds three more P’s, people, process and physical evidence, to give marketers the “Seven P’s” they should focus on. .
Marketing a product and marketing a service require two different schools of thought. This is because a service does not provide any physical product to the consumer. Instead, the service provided is more of an intangible thing given to consumers. Also, there is often competition in the market that offers the exact same service to the public. These are concepts that must be understood by marketers in controlling the services marketing mix.
There are certain factors that the service marketing mix shares with the product marketing mix. In the service industry, the product is the service provided, such as washing a car or paying someone’s taxes. Location is where the service is provided, which can be important for marketers if their location is beneficial to the business. Promotion refers to the measures used to market the service. Rounding out the four P’s is price, which can be crucial in an industry where many competitors offer the same service.
In addition to these concerns, three other factors are unique to the services marketing mix. People are the employees who deliver the service and generally interact with consumers. Process refers to the way the service is provided, in terms of speed, efficiency and positive impact on the consumer. Finally, physical evidence can be defined as the experience that the consumer has in the place where the service is provided.
This gives marketers a total of seven key factors – the seven P’s – to consider in the services marketing mix. All of these elements, and the import placed upon them, can be manipulated to reflect the strengths of the company in question. For example, a company might promise that fast pizza delivery should focus on process. On the other hand, a separate company that owns the best tasting pizza would be wise to focus on the product. Marketers can budget according to the elements of the mix that are most useful to them.
Asset Smart.
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