Implementation of the strategic planning has led to a significant improvement in profitability, market share, and share of wallet in stores where the strategy was adopted.
Shimizu's 7Cs Compass Model Courtesy: The 7 Cs Compass Model is a framework in co-marketing symbiotic marketing. It has been criticized for being little more than the 4 Ps with different points of emphasis.
In particular, the 7 Cs inclusion of consumers in the marketing mix is criticized, since they are a target of marketing, while the other elements of the marketing mix are tactics. The 7 Cs also include numerous strategies for product development, distribution, and pricing, while assuming that consumers want two-way communications with companies.
An alternative approach has been suggested in a book called 'Service 7' by Australian Author, Peter Bowman.
Bowman suggests a values based approach to service marketing activities. Bowman suggests implementing seven service marketing principles which include value, business development, reputation, customer service and service design. Service 7 has been widely distributed within Australia. Digital Marketing Mix[ edit ] Digital marketing mix is fundamentally the same as Marketing Mix, which is an adaptation of Product, Price, Place and Promotion into digital marketing aspect.
Through the form of digital, a product can be directly sent from manufacturers to customers. As a result, when a company is making strategy for Internet marketing, it is necessary to understand how to vary their products in the online environment.
Here are some indications of adapt the product element on the Internet. In this case, it particularly refers to the products that can be remodeled into digital forms including movies, music, books and other publishing etc. Take Netflix as an example. The wide use of Internet has changed its form of products from selling and renting DVDs through retail stores into selling and renting video online.
In order to gain market shares in the Internet, companies need to widen its product range. For example, a psychological counseling could offer online consultation via video calls.
Building the whole product: Apart from selling products online, Amazon.
The Internet offers a low-cost and convenient way of making marketing researches, which is helpful for companies to find out what products or services do customers prefer. Price Price concerns about the pricing policies or pricing models from a company. Due to the widely use of the Internet, many applications could be found in both consumer's and producer's perspective.In services marketing, an extended marketing mix is used, typically comprising 7 Ps, made up of the original 4 Ps extended by process, people, and physical evidence.
Occasionally service marketers will refer to 8 Ps, comprising these 7 Ps plus performance. Apple also sells third-party digital content and applications through iTunes Store®, App Store®, Mac App Store, TV App Store, iBooks Store™ and Apple Music®. Product element of the marketing mix for Apple is marked with simplicity in design and convenience in usage.
In services marketing, an extended marketing mix is used, typically comprising 7 Ps, how to be there and be ubiquitous, in order to guarantee convenience to buy. is more likely to ease the pressure on price because online-producers do not have to put budget on renting a physical store.
The extended marketing mix definition: Pillar 5: People People is a very broad part of the marketing mix. It can refer to the people you design your branding for or . The extended marketing mix (7P's) is the combination of seven elements of marketing that aim to work together to achieve the objectives of a marketing.
please in some wrbsites, included in the element of marketing mix that is the extended ones are people, packaging, and positioning. Which is more authentic?