Marketing Mix

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P’s involved in marketing mix?
Ans- Just like the marketing mix of a product the service marketing mix comprises of Product, Price, Place and Promotion. How ever as a service is not tangible the marketing mix for a service has three additional elements: People, Process and Physical Evidence. People- People are an essential ingredient in service provision; recruiting and training the right staff is required to create a competitive advantage. Customers make judgments about service provision and delivery based on the people representing your organisation. This is because people are one of the few elements of the service that customers can see and interact with. Process- This element of the marketing mix looks at the systems used to deliver the service. For example- you walk into Mc Donalds and order mac veggi and you get it delivered within 4-5 minutes. Or Banks that send out Credit Cards automatically when their customers old one has expired again require an efficient process to identify expiry dates and renewal. An efficient service that replaces old credit cards will foster consumer loyalty and confidence in the company. All services need to be underpinned by clearly defined and efficient processes. This will avoid confusion and promote a consistent service. In other words processes mean that everybody knows what to do and how to do it. Phusical Evidence- Physical evidence is about where the service is being delivered from. It is particularly relevant to retailers operating out of shops. This element of the marketing mix will distinguish a company from its competitors. Physical evidence can be used to charge a premium price for a service and establish a positive experience. For example all hotels provide a bed to sleep on but one of the things affecting the price charged, is the condition of the room (physical evidence) holding the bed. Customers will make judgments about the organisation based on the physical evidence. For example if you walk into a...
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