7 P's of marketing
In case of goods 4 P's are ruling the market.
But in case of services and knowledge based economy booze and bitterness has suggested beside 4 P's, three P's in addition to that people
process physical evidence totalling into 7 P's of marketing
This additional P's of marketing are required for services marketing
Services marketing is very different from goods marketing
services have got the characteristics of inseparability intangibility heterogeneity and perishability
it becomes very essential to market to address 7 P's of marketing
services range from the airline services to banking services two courier services to hotels
in addition to 4 PS, three P's extra which are people, process and physical evidence
people all people who directly or indirectly influence the perceived value of the product or services including knowledge workers employees management and consumers
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process :- in case of process procedure mechanism and flow activities helps the marketer to satisfy the consumer in better way
it is all due to process you get the pizza delivered from dominos within 30 minutes in India
if you talk about McDonald's mcdonald's serve its customer with freshly made burger and french fries within within 2 minutes of the order because
of its streamline of process
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now let's talk about the physical evidence through this server physical through the physical evidence service marketing gives the tangible character
by using certificate, tickets, logos,
physical evidence deals with the direct sensory experience of a product or service that allows a customer to measure whether he or she has received value value or not
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if you travel first class in aircraft you expect enough legroom to be there to lie down
once you walk into the restaurant you expect a clean and friendly environment all these factors are very very important in the giving right value to the customer that's why we talk about people process and physical evidence
if you are talking about the banking services in India there is ICICI Bank who is providing you the services at ICICI Bank services are the promises are provided by the ICICI bank employees once ICICI banks providing services through its own employees so bank is very keen about to have right kind of employees that that's why people become very very important in that case because those people will serve you ultimately the branch
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in services marketing we also talk about heterogeneity heterogeneity it means service delivery will be very very different two different customers and it will be different for different employees also for example we say if you are going to ICICI Bank the same person will not behave in the same way on all the days so what is the way out
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for example if the employee has fought fight had a fight with the with his wife what is the problem there and he comes there to the match branch and he supposed to deliver some kind of services to the customer and if he is not happy one she is not happy it also impact his own personal behaviour while providing the services to the customer and that's why customer and banks or any kind of service provider will have process in place.
so that process will say if I want to open a bank account I need to open the bank account within that 15 minutes or 20 minutes
if I want to get the cash payment I should get it in next 10 minutes so that is all about the process
if you go to the McDonald's you will get the same kind of burger mechanism
if you go to the McDonalds because there are good services in place you will get the same kind of burger on all the days all the time
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now physical evidence once you go to the restaurant you'll understand we will go to the 5 star hotel 5 star hotel you'll understand by interior and payments are made according to the services
if you go to the three star hotel then also you will understand
that service through the physical evidence what kind of hotel you are give getting into 3 star or 4 star or 5 star
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