Compendium admissions 2023-25
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| Place It encompasses a set of activities that makes the product available to customers. Multiple channels of distribution and selling can be employed per different customer groups. 59 Multiple things should be considered when deciding on what our place of selling shall be which includes channels, coverage, assortments, locations, inventory, transportation, and logistics. 3 more Psi bPeople In the service industry in particular people form a major part of the marketing force which includes and is not limited to salespeople, upper management, the labor force, etc. It is essential to have competent, trustworthy, and efficient people who are aligned with an offering’s value proposition. Process The process of delivering service to a customer is extremely important in the overall marketing plan as it will dictate a customer’s perception and overall experience. Physical evidence Although the majority of services are intangible, companies often provide physical evidence to showcase that a transaction has taken place (e.g., a bill receipt after a haircut. This reinforces the fact that despite its intangibility a physical product has been delivered. 4A and C models The A model of marketing is much more recent as compared to the 4/7Ps and takes the customer’s point of view into consideration. What does a customer consider before deciding on their purchase The A model states that these are Acceptability, Affordability, Accessibility, and Awareness and is frequently deployed in rural markets. The C model doubles down on the customer’s point of view by looking at how a customer wants to interact with and decide on their purchase. The Cs are Customer, Cost (the overall cost to a customer instead of just the price, Convenience (how effortless it is fora customer to purchase a product, and Communication (not a promotion but two-way communication wherein the customer feels heard. Download 4.08 Mb. Share with your friends:
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