Several Nigerian small businesses are unfamiliar with the 7Ps of Marketing also known as the Marketing Mix. As such, they are not exploiting them appropriately to grow their businesses.
The marketing mix consists of; the product (or service), price, place (distribution), promotion (advertising, product PR, sales promotions, direct marketing and personal selling), physical evidence, people and processes.
For years, marketers referred to the 4Ps by E. Jerome McCarthy but Booms and Bitner developed the concept of the Extended Marketing Mix by introducing what he termed the “service mix” namely; physical evidence, people and process. One can immediately see the need for the service mix in a world with increasingly aware and demanding customers.
From a public relations and reputation standpoint, I often refer to the 7Ps as the proverbial apples in the barrel. Remember the old saying, ‘one bad apple spoils the barrel?’ Well, that’s exactly the same with the 7Ps of marketing and brand reputation. One bad “P” is a potential reputational risk.
It’s a no-brainer that a sub-standard product or service could be damaging to your reputation. Price can be a risk factor where there is a disparity between the advertised price and what’s being offered by unchecked distributors or retailers. The same goes for a sales promotion with unfulfilled rewards or culturally insensitive advertising. Bad or non-existent processes can cause bad customer service as can an untrained or ill-mannered staff. And physical evidence refers to the environment in which you conduct your business. What does it say about your business? What experience does it create?
It’s noteworthy that the 7Ps apply to brick-and-mortar as well as online businesses. So, if your business is online, your physical evidence would be your online store. In my last post, I talked about the importance of having a good website. It could also be your Instagram or Facebook page. What impression do they give a visitor? Does a visitor get a sense that your business is professionally run by looking at the page? Do you wait for 48 hours before responding to a direct message (DM)? These are questions you must ask yourself as a small business owner.
It is insufficient to have a good product or service, or to invest heavily in advertising if you haven’t fixed the other “Ps.”
