THE 7 P's OF PROMOTION

When marketing a product, in order to launch successfully, a promoter should consider the 7 p's of promotion:

•Product

•Price

•Place

•Promotion

•People

•Process

•Physical evidence

Each element is essential when considering promoting a product, in order to gain sufficient interest with the audience, engaging them and ultimately persuading them to part with money and purchase.

Product:

The product its self as a starting point is key, it is what you are trying to sell. Promotors should look at the products as though they were an audience - is it suitable in terms of the branding, quality? Does it meet the needs of the audience and compete with the current market?

Prices:

The price eventually limits the products success so examine the budget of the audience and the current market's pricing so that it is appropriate.

Promotion:

The promotion is the ways in which the customers find out about the product, so the touch points essentially.It can be promoted on a variety of mediums and enhanced through special offers, advertisements, endorsements and campaigns.

Place:

The place is where the product is actually sold, the place is essential for the products success. If not placed in a suitable place it may not reach the audience and therefore not sell.Is it going to be sold in retail, internet or peer to peer and where a bouts will it be best exposed.

People:

The 'people' are all the people involved - each decision in the process of the marketing of a product is key to the sucres of a whole. This includes management, employees and the customer service.

Process:

How the promotion is carried out. The delivery of the services to the audience.

Physical Evidence:

The proof of the promotion - the service delivery and facilities available.