P3 Compare the way in which at least two organisations of your choice apply the marketing mix (7P’s) to the marketing planning process to achieve business objectives.
• Definition of Marketing Mix
The Chartered Institute of Marketing defines the marketing mix.
“The combination of marketing inputs that affect customer motivation and behaviour these inputs traditionally encompass four controllable variables ‘the 4 Ps”: product, price, promotion, and place. The list has been extended to 7 Ps, the additions being people, process and physical evidence.
• The Marketing Mix 7 Ps:
• Product – Products are the important elements of the marketing mix for organisations to develop products that meet the needs and wants of their final consumers
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Kotler et al (2006) define price as the amount of the money charged for a product or service, or the sum of the values that consumers exchange for the benefits of having or using the product or service.
• Place – Mentions to the point of sale, in all business, catching the eye of the consumer and making it easy for them to buy it is a main aim of the good place. Companies pay a best for the right place. in fact, main mantra of successful business is “location”
• Promotion – Whaley (2010) defines promotion as “all of the available to marketer for marketing communications”. On other hand, the CIM define as “the way a company communicates what it does and what it can offer customers. It includes activities such as branding, sales management, advertising, Corporate identity, special offers and exhibitions”
• People – The CIM defines the people aspect of the mix as anyone who meets your customers will make an impression and that can have a profound effect, positive or negative on customer satisfaction. The further stated that reputation of a company brand rests in the hands of its employees, who must be trained and
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The idea is to deliver great content in innovative way to consumers. The installation process is completed within 6 days and the service engineer sets up the desired equipment. Sky also has a customer care wing which handles the complaints and is responsible for grievance handling. Virgin Media invests a lot in the latest technology. It is in the process of automating everything. It has evolved a lot from cassettes and CD’s to the latest technology. The deliverables to its customers are instant and of high quality thus leading to increase in customer satisfaction. Virgin Media's major target segment is the youth an all its offerings are designed to satisfy the requirements of this