How does DADD help me use the 7Ps marketing model?
Companies can use the 7Ps model to set objectives, conduct a SWOT analysis and undertake competitive analysis. It’s a practical framework to evaluate an existing business and work through appropriate approaches whilst evaluating the mix element as shown below and ask yourself the following questions:
Why are there now 7 Ps in the marketing mix?
Originally, the classic 4Ps model (Product, Price, Place and Promotion) was designed at a time when businesses sold products. Today, many sell services instead – some call it the Subscription Era. Booms and Pitner added three more to cater for the service mix P’s: People, Physical evidence and Processes. DADD uses the full 7Ps in doing product and marketing reviews as many of its customers sell services.
How can you develop your products or services?
Prices or Fees:
How can we change our pricing model?
Place or Access
What new distribution options are there for customers to experience our product, e.g. online, in-store, mobile etc.
How can we add to or substitute the combination within paid, owned and earned media channels?
How we reassure our customers, e.g. great website, impressive buildings, well-trained staff etc?
Who are our people and are there skills gaps?
Are we seeking new channel or technology partners? How could we improve these relationships and working patterns?