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There are many marketing jobs that require marketing skills -marketing plan, marketing proposal, marketing strategy,market... and sold it for 10 times of the original value.PricePrice is the amount that a product isasking in ... one thousand dollars to buy a nicejacket in a department store. The dadstruggled a little bit but handed theteenager one t... that a marketer may use in themarketplace. It has four distinctelements: advertising, publicrelations, pers... distribution channel.Place may include any physical storeas well as virtual stores on theInternet. However, Place may not ... them one by one.The first salesman said: "Dont wasteyour time boss. All the people theredo not wear shoes. There is nomark... People is an important factor inservicing industries - travel agencies,restaurants and hair salons. No twopersons are the ... assurance that their service will begood.In order to standardize the effect andto minimize the gap among differentpeople, ... impact of People.Physical EvidencePhysical Evidence is the element thatallows the consumers to makejudgments on ... online; you would love to show yourfriends the official ticket and keep itas a souvenir instead of printing a barcode from... today, products are now protectedfrom contamination, crushing,breakage, and spoilage and it helps inthe produ... package an artist is the key to make astar.PaymentIn 2008, Bryan K. Law of FoxCollege of Business suggestedPayment should ... types of credit card (such as VISA,Master, American Express, DinersClub, JBC and Discovery) arecommonly ... In this cyber age, easy and securitypayment methods are essential for allonline transactions. Can you imaginean online sto... the idea of digital wallet – using yourcell phone make Payment and as aproof of ID.The smartphone-enabled walletal... Upcoming SlideShare Loading in …5 × 1 of 16
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9 ps of marketing 1. 1. 9P’s of MarketingMarketing Mix is a planned mix of the controllable elements ofa products marketing plan. Traditionally, elements of themarketing mix are often referred to as 4Ps: Product, Price,Promotion and Place; which was proposed by E. JeromeMcCarthy in 1960. Although Nickels and Jolson suggested theinclusion of Packaging as the 5th P in the 1970s, but it was notwell accepted. In the meantime, three Ps have also been addedto the marketing mix namely People, Process and PhysicalEvidence; which serve mainly the service industry and arewidely recognized.Nickels and Jolsons idea to include Packaging as one of the Pshas been examined through the years, now many marketersbelieve Packaging should be the 8th P in marketing mix. In2008, Bryan K. Law of Fox College of Business suggestedPayment should also be included; as ease and security oftransaction plays a crucial role in marketing, especially in thiscyber age. It makes a total of 9 elements in marketing; whichare the 9Ps.We advocate the idea of using all 9Ps in practicing marketingand using them to help businesses marketing their products. Inthe future, we will establish a platform where vendors can selltheir products and services using the 9Ps and consumers can alsoparticipate in the marketing program. Stay tuned! 2. 2. There are many marketing jobs that require marketing skills -marketing plan, marketing proposal, marketing strategy,marketing research and marketing analysis. Once you arefamiliar with the use of marketing mix, you can play well inthose areas too.ProductIn marketing, a product is a tangible object or an intangible onefor sale. Intangible products are service based like thetransportation industry, hotel industry or insurance.Examples of tangible object are gasoline and pen. To retain itscompetitiveness in the market, product differentiation is requiredand is one of the strategy to differentiate from its competitors.For example, a luxury pen made with diamond and 18K goldcan be marketed as a writing instrument; but it can also bemarketed as a piece of jewellery and such positioning maydifferentiate it better and more efficiently.A junk site for dumping used vehicles could be marketed as adump site; but a smart consultant changed it into a car dealership 3. 3. and sold it for 10 times of the original value.PricePrice is the amount that a product isasking in the market. It is determinedby a number of factors includingmarket share, competition, materialcosts, product identity and thecustomers perceived value of theproduct. A business may increase ordecrease the price of product if theproduct is in demand or other storeshave the same product.For the same product, the price mayhave different impact. Here is a realstory:A teenager asked his dad to give him 4. 4. one thousand dollars to buy a nicejacket in a department store. The dadstruggled a little bit but handed theteenager one thousand dollars to buythe jacket. When the dad asked hisson to show him the jacket the nextday, his son handed back the moneyand said: "I didnt buy it.""Why?" the dad asked."When I went to the department storethis morning, I found out that thejacket was on sale. It is now sellingfor $300 only. I dont want to have ajacket that is sold for that cheap."PromotionPromotion is all the communications 5. 5. that a marketer may use in themarketplace. It has four distinctelements: advertising, publicrelations, personal selling and salespromotion.Not all products will fit in the samepromotion. A designer brand willnever use radio commercial topromote their brand image, while apolitician will not use fashionmagazines to promote their schemes.PlacePlace represents the location where aproduct can be purchased or thechannel where the product can gothrough to be placed for sale.Therefore, it is often referred to as the 6. 6. distribution channel.Place may include any physical storeas well as virtual stores on theInternet. However, Place may not beexactly a physical store where theproduct is for sale. Place is where theproduct is available or an image ofthe product is created in the mind ofcustomers. Channel may refer to themedia, the network and the way howyour message is delivered.Here is a famous story to show howthe place may affect marketing:Two salesmen of a shoe factory weresent to a small country in Africa toexplore business opportunity. Whenthey came back, the boss interviewed 7. 7. them one by one.The first salesman said: "Dont wasteyour time boss. All the people theredo not wear shoes. There is nomarket for us."The second salesman said: "No onethere wear shoes. We will havemillions of shoes sold and I think weshould hire more people to make ourproduction line 24/7."PeopleAll people involved withconsumption of a service areimportant. For example workers,management, consumers etc. 8. 8. People is an important factor inservicing industries - travel agencies,restaurants and hair salons. No twopersons are the same and no twopersons can provide the exact sameservice to customers. It is thereforeimportant to recruit good people andmaintain their good quality service inorder to attract and keep thecustomers.It is common to see: All ourtechnicians are certified ... Ourservice consultants are all well trainedand licensed ... All our instructorshave over 10 years experience in thefield .. etc etc. However, suchguarantee can only ensure theirpeople achieve a certain level ofeducation or experience. There is no 9. 9. assurance that their service will begood.In order to standardize the effect andto minimize the gap among differentpeople, Process is introduced.ProcessProcess is the procedure, mechanismand flow of activities to provideservice or to produce a product. Theprevailing ISO standards (such as ISO9001) are designed to helporganizations ensure their process canmeet the needs of customers and otherstakeholders in their field.A well organized and qualitycontrolled process may reduce the 10. 10. impact of People.Physical EvidencePhysical Evidence is the element thatallows the consumers to makejudgments on that organisation. Itincludes some of the following:Premises,Websites,Paperwork (such as air tickets),Brochures,Signage (such as those on aircraft andvehicles),Uniforms,Business cards.Just imagine that if you bought aticket of the 2008 Olympic Games via 11. 11. online; you would love to show yourfriends the official ticket and keep itas a souvenir instead of printing a barcode from your computer. This is oneof the examples for PhysicalEvidence.PackagingMarketing people have alwaysemphasized the importance ofpackaging as it is the way to make afirst impression on the customers;especially for the products on shelves.However, some people believePackaging should be a part of Productand some people think it is a part ofPromotion.Because of the advanced packaging 12. 12. today, products are now protectedfrom contamination, crushing,breakage, and spoilage and it helps inthe product to be unaffected fromclimatic conditions. Packaging is alsohelpful in elaborating necessarydetails about the product, company,quantity, ingredients, precautions andside effects etc.In some extreme cases, such as somefancy Japanese products; the cost ofpacking may exceed the cost of theproduct itself in order to attractcustomers.Some say the images of singers,actors and actresses are alsopackaging - they are what theyprojected in your mind. How to 13. 13. package an artist is the key to make astar.PaymentIn 2008, Bryan K. Law of FoxCollege of Business suggestedPayment should also be included; asease and security of transaction playsa crucial role in marketing, especiallyin this cyber age.Payment is the consideration for thedelivery of goods and services. It isan ease and security of transaction.Traditionally the retailers would try toprovide as many options of paymentas possible for the convenience oftheir customers and hence attractmore business. Cash, debit card,cheque, gift voucher, and different 14. 14. types of credit card (such as VISA,Master, American Express, DinersClub, JBC and Discovery) arecommonly accepted in mostestablishments, especially the bigones. People do not expect to carryenough cash to dine in luxuryrestaurants or to buy designer brandsin the shopping malls.Many merchants offer bonus points totheir customers, such as mileagepoints offered by airline companies,club points offered by retail storesand airtime points offered by mobilephone companies. These are allincentives to the customers, but thepoints are also a kind of paymentitself. 15. 15. In this cyber age, easy and securitypayment methods are essential for allonline transactions. Can you imaginean online store that will accept onlycash or ask its customers to send inbank draft for buying their products?Payment is not just a tool inmarketing, it is one of the essences.Now, many payment methods useRFID (radio-frequency identification)technology for faster and more securepayment method. MastercardsPayPass, VISAs payWave and theOctopus cards are a few goodexamples.New Development – Digital WalletCell phone companies have launched 16. 16. the idea of digital wallet – using yourcell phone make Payment and as aproof of ID.The smartphone-enabled walletallows consumers to purchase itemssimply by tapping their phone on apad at the cash; much like a tap-and-pay credit card but it can also haveGPS and ID to serve other purpose. Recommended
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