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Introduction
This critical evaluation paper discusses and analyzes the 7Ps of marketing. This model allows leaders to evaluate the companys performance and understand the significant components connected with its functioning, current state, and opportunities for subsequent growth and development. The 7Ps of the marketing model focus on discussing such elements as product, promotion, price, place, people, process, and physical evidence. The evaluation of these components is the basis for the development of the tactics of the company to maximize its profit and to improve the quality of the products or services it provides to clients. It is possible to assume that the use of the 7Ps model of marketing is an effective tool for developing the business tactics and strategy of the organization, determining how the product will be positioned on the market, and understanding the needs of the target audience of the particular business. Therefore, using the 7Ps of marketing is effective from the business point of view, which foregrounds the need in its application in various situations.
Critical Evaluation
The marketing model determines the companys views on its strategic planning and affects the choice of the methods the organization uses to develop its policy. The elements of the marketing model allow the company to understand the background surrounding the business issue objectively and to determine potential dangers and challenges that the company might experience (Elgarhy and Mohamed, 2022). In addition, it might articulate the strong sides of the existing situation that the organization should develop to achieve better business performance (Elgarhy and Mohamed, 2022). In other words, the specific marketing model allows the organization to evaluate the context in the sphere and to elaborate on the methods that lead to the maximization of the companys profits (Elgarhy and Mohamed, 2022). The 7 Ps of marketing is one of the examples of tactic planning that business leaders use to find the optimal solution for the organization.
The 7Ps marketing model developed gradually, and initially, it was focused on selling products, not services. The initial models four main Ps centered around promoting products and satisfying the customers needs. This model was extended by Pitner and Booms, who added several other Ps to the description of the model, including processes, physical evidence, and participants or people (Kwok, Tang and Yu, 2020). As a result, business leaders could apply these 7Ps of marketing to promote the services they propose to their customers, products, and various types of training (Kwok, Tang and Yu, 2020). Therefore, the 7Ps of the marketing model allows business leaders to work with the extended list of categories that include all types of services and products, making this model universal.
The notion of product in the 7Ps of the marketing model refers to the things or services the organization produces. In some cases, the combination of the product and the service is analyzed, depending on the companys specifics (Saha, 2020). The product evaluation allows the company to see whether clients buy it and whether the competitors provide them with similar or better options (Saha, 2020). The review of this category discusses the benefits of the particular companys product over its competitors and the details surrounding its promotion offline and online (Yaghoubian et al., 2018). For instance, this category evaluates the presentation of the product or services the company provides to its clients.
Price is another vital component in evaluating the product according to the 7Ps of the marketing model. It is one of the significant characteristics that clients consider when they decide whether they want to buy the product or prefer its competitor (Young, 2017). The price is usually influenced by the placement of the business, its online or offline representation, the logistics, and the peculiarities of the distribution chain (Young, 2017). Therefore, these objective aspects should be discussed in the analysis of the price of the product the company provides to its target audience.
Promotion is a vital part of the business tactics that ensure that people will learn about the particular product the company proposes to them. Without promotion, the target audience will not be aware of this product, and this category includes the quality of the product and its price (Young, 2017). Advertising is the primary method of promoting the product or the service the business leaders should use in applying the 7Ps of the marketing model.
People are also essential to product promotion because the company should understand its target audience. The rise of the product or service should focus on the group interested in buying it (Young, 2017). Therefore, the company should interact actively with people who are its customers to understand their desires, views on the quality, and expectations from the product they buy (Young, 2017). It shows that establishing a solid connection with clients is the vital step in applying the 7Ps of the marketing model.
The process is also an integral part of the discussed marketing model, reflecting how people learn about the product, buy it, receive it, and use it. The entire process should be interconnected, and the company should provide its customers with a positive experience they would like to repeat in the future (Kwok, Tang and Yu, 2020). It is one of the most important things in creating a loyal target audience that has preferred the product of one company or brand over others for years.
The last component of the 7Ps of the marketing model is physical evidence. This category reflects the companys customer experience (Kwok, Tang and Yu, 2020). In this case, how the store is designed and how the staff looks and communicates with the client are critical because they allow people to feel that they made the right choice (Kwok, Tang and Yu, 2020). In other words, all components of the buyers experience are critical in the formation of the public image of the company, which is an integral part of its popularity and business success.
At the same time, there are certain limitations in using the 7Ps of the marketing model that restrict its use and practical application. The objectivity of the data that business leaders use to conduct the analysis is one of the reasons that lead to controversies in the application of the discussed model. It is possible to illustrate this hypothesis with the following lines from the article by Klarmann and Feurer:
In empirical marketing research that does not rely on fully randomized experiments, control variables are an important tool to rule out rival alternative explanations for the observed relationships. Despite their importance for causal inference, control variables often receive little attention from either applied researchers or methodologists. At the same time, overviews of control variable practices in neighboring disciplines demonstrate that researchers struggle with selecting, analyzing, and interpreting control variable results (Klarmann and Feurer, 2018, p. 26).
This excerpt shows a need to conduct a detailed and objective investigation that precedes the use of the 7Ps of the marketing model. Otherwise, the evaluation results will not be precise and realistic to satisfy the needs of the company and meet the goals of the target audience.
Conclusion
7Ps of marketing is one of the most widely used models in business that satisfy the needs of businesses and allow the companies to evaluate the interests of their clients. The initial emphasis in using this marketing model is on making tactical decisions that satisfy the markets desires in general and clients in the short-term. At the same time, it is essential to remember that the notions of tactic and strategic planning are interconnected, and business leaders develop tactical plans based on more general strategic assumptions. The investigation shows that the 7Ps of marketing reflect that all business processes are interconnected. It is impossible to elaborate general strategic plans that describe the companys development in the long-term perspective without referring to the tactical needs of the target audience and the abilities of the business to satisfy them.
Recommendations
It is vital to remember that the companys business performance should always remain client-centered. Therefore, using the 7Ps of the marketing model should also be consistent with focusing on the customers needs and market requirements. The focus on the target audiences interests allows leaders to apply the 7Ps of the marketing model consistent with the practical goals the company articulates. The main recommendation for leaders who work in marketing and use the discussed model in the business situations they face is to find the balance between the interests of the company and the needs of the target audience.
Another vital recommendation concerning the use of the 7Ps model of marketing is the importance of using objective and relevant information for the analysis. The prior investigation into the product, promotion, price, place, people, process, and physical evidence that constitute the main elements of the discussed strategy is essential. The relevant data allows the leaders to understand the context connected with their business situation in minor details that determine the tactic and the strategic planning in marketing. For this reason, using detailed and relevant information about the context and product is critical to elaborating a successful evaluation plan.
Reference List
Elgarhy, S. D. and Mohamed, L. M. (2022) The influences of services marketing mix (7ps) on loyalty, intentions, and profitability in the Egyptian travel agencies: The mediating role of customer satisfaction, Journal of Quality Assurance in Hospitality & Tourism.
Klarmann, M. and Feurer, S. (2018) Control variables in marketing research, Marketing: ZFP Journal of Research and Management, 40(2), pp. 2640.
Kwok, L., Tang, Y., and Yu, B. (2020) The 7 Ps marketing mix of home-sharing services: Mining travelers online reviews on Airbnb, International journal of hospitality management, 90, p. 102616.
Saha, M. (2020) Customer engagement with 7 Ps of marketing, SSRN Electronic Journal, pp. 1-6.
Yaghoubian, S., Ali Jahanib, M., Yazdani-Charati, J. and Mahmoudi, G. (2018) The role of marketing mix (the 7 Ps) in patients attitudes to Iranian hospitals based on their kind of ownership (case study in Iran), International Journal of Healthcare Management, 13(1), pp. 268-272.
Young, D. (2017) A short guide to marketing model alignment & design: Advanced topics in goal alignment model formulation, BookBaby.
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