The 7 P’s of marketing — Product, Price, Place, Promotion, People, Processes and Physical Evidence — is a foundation concept in marketing used by businesses and marketers to help determine a product or brand’s offering.
IN THE PREVIOUS two issues we looked at the first four elements of the 7 P’s of marketing. Now we shall deal with the last three elements — People, Processes and Physical evidence.
PEOPLE
Your people or staffare undoubtedly the lifeblood of your company. Employ the most competent people you can at the best remuneration you can afford and work to retain staffwho have proven themselves and are loyal to the company — offer them incentives or a profit share and ensure that there are adequate career promotional opportunities within your company.
Encourage team members to work smartly, effectively and efficiently and to be meticulous in the execution of their duties. Make customer service a top priority and cultivate a sales-oriented approach amongst all staffmembers.
Engage in regular internal communication that is transparent and comprehensive and, where possible, include staffin decision-making.
PROCESSES
Effective, efficient, accurate and userfriendly business processes for ordering, delivery, IT and production, and communication are key. Your systems should allow you to measure everything of import and the information should be readily available.
PHYSICAL EVIDENCE
Because your business assets are effectively used to market your business, brand personality should be a pervasive consideration when choosing your furniture, fittings, computer equipment, stock, publications and brochures. Visible signage is important and so too is your website which should be modern, classy, easy to use and effective.
Ensure that your intellectual property (IP) is adequately protected. For most businesses, ownership of the rights to a brand name, slogans, designs, content, inventions and so forth are critically important to the success and value of the business and getting it wrong can be a very expensive mistake.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Why SA Needs More New Franchises
South Africa has over 35,000 franchise outlets that employ more than 300,000 people and with a failure rate that is significantly lower than regular start-ups, franchising holds the key to job creation.
Should You Convert Your CC To A (PTY) Ltd?
When you are ready to take your close corporation (CC) to the next level, you might want to give serious thought to converting it to a private company, also knows as a (Pty) Ltd.
The 7 P's Of Marketing: People, Processes & Physical Evidence
The 7 P’s of marketing — Product, Price, Place, Promotion, People, Processes and Physical Evidence — is a foundation concept in marketing used by businesses and marketers to help determine a product or brand’s offering.
Spar Embraces Transformation
As part of SPAR's commitment to transformation and job creation, they will be joining forces with the National Treasury and its Jobs Fund initiative to fast track black enterprise development amongst its brands. This initiative will be facilitated by SA Franchise Warehouse as service provider and Business Partners Limited as the commercial funding partner.
Marketing For Success
As much as selling is considered to be the lifeblood of any enterprise, marketing is without a doubt the heart pump that produces the income which transforms the business idea into a reality.
Franchisors, Franchisees & The CPA
The Consumer Protection Act (CPA) to a large extent codified our South African consumer-related common law and provided a Bill of Rights for consumers. As franchisees fall within the definition of a consumer, there are various key considerations which franchisors must be cognisant of when supplying goods to their franchisees.
Exclusivity Clauses in Lease Agreements
The contentious and longrunning issues around clauses in commercial leases granting a major tenant the exclusive right to carry on a particular type of business in a centre, and a corresponding clause in the lease of another tenant prohibiting them from carrying on the same type of business, appears to have a taken another step towards a conclusion.
Collaborate Grow
By seeing others as partners and not competitors, business owners can harness the power of the collective to attract customers, seek inspiration and help their overall bottom line. When it comes to building and growing a small business collaboration is the new competition.
Driving Transformation in Franchising
Following the establishment of The Department of Small Business Development (DSBD) in 2014, it did not take them long to realise the enormously powerful mechanism franchising presents in promoting enterprise development and transformation in South Africa.
Competitive Advantage for Franchises
Many organisations, including franchises, strive to attain a competitive advantage, but few truly understand what it is, how to achieve it and, perhaps most importantly, how to keep it.
