Want to know what are the 7Ps of service marketing? AAMcourses got you covered. Traditional marketing has informed us about the 4 Ps of marketing. But when services enter, there are 7ps of service marketing.
These P’s of marketing inform us about the aspects of marketing. In the case of service marketing, it provides us with an overview of how service marketing works. It helps us to understand the wants and needs of our customers.
As compared to product marketing, service marketing is difficult. As service is intangible, it can be hard to showcase its benefits. In contrast, you can practically showcase a product’s design and features. Due to the tangible nature of a product, people can easily understand its benefits.
Before studying about what are the 7ps of service marketing. Let us take a look at the basics. Let’s learn what service marketing is.
What is Service Marketing?
Service marketing is a concept where the benefits of the services are being promoted. As services are intangible, several written documents are available to establish the validity of services.
In the case of banks, we are provided with checkbooks, online codes, and welcome letters to ensure the services’ validity.
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Let’s move on to the question you came for. Let’s study the 7 Ps of service marketing next.
7Ps of Service Marketing
Product
Service is an intangible good. No one can see or touch it, as it is not physically present. Service provides benefits and features that a customer desires. There is no physical presence, so it is hard to describe and advertise services. Organizations use strategies to get into the minds of consumers. They create a need in the consumer’s mind.
Take banks, for example. People can store their cash in their homes as savings. But banks created a need in people’s minds for a bank account. Banks gave additional benefits such as fixed deposits, interest rates, and loans to increase people’s interest.
Price
The 2nd of the 7ps of service marketing is pricing. Pricing is something that hints at the quality of service. This is what a customer’s perception is. So, the higher the price, the better the quality.
When setting up the prices, an organization would consider charges on labor, delivery, hosting, etc. One of the factors to consider is the market price of the service.
Let’s take an example of OTT platforms. The subscription fee depends upon factors such as the website hosting charges.
Place
The next P of the 7Ps of service marketing is place. Place refers to the location of the service. It indicates where the service is provided. The place also indicates where the services will be promoted.
The place of service has to be thought of carefully. Mostly, consumers prefer services that are closer to access. So, the more busy market you select, the more customers you gain. Although, when it comes to internet services, there is no location limit.
For example, if a new school is established in your local area. You would preferably send your kids to that school. Your objective may be safety, closeness, or anything.
Promotion
The 4th P of the 7Ps of service marketing is promotion. Promotion helps to create awareness about the product or services. It showcases the specialty of offered service. It also informs about the extra benefits tagged with the services to attract customers.
Promotion is very critical for services. The only way to visualize it is through advertisements. Another important tool is personal selling.
People
Service-based company is completely dependent on their employees. The quality of service depends on the employees providing services. The better the service, the more customer retention.
Companies train their employees to provide high-quality services. Companies make guidelines to help employees in problematic situations. The concept of people refers to internal marketing.
Process
The 6th P of the 7Ps of service marketing refers to the process. In a service industry, there is a certain fixed process and defined guidelines. These processes make sure the quality of the service is satisfying.
Many companies use process mapping to create a process flow chart. It helps the employees to understand how the process goes.
Physical evidence
The last of the 7Ps of service marketing is physical evidence. Every intangible service comes with tangible products associated, like hair salons have hair products, sitting areas, TV, etc. These tangible assets enhance the quality of service. It even helps customers to determine the quality of service.
Let’s take the example of a Hotel. The room provided in the hotel, bed, decoration, ambiance, and several other aspects help enhance the customer experience.
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FAQS
What are the 7Ps of service marketing?
Product, price, place, promotion, people, process, and physical evidence are the 7Ps of service marketing. These 7 Ps altogether make up the aspects of the marketing mix.
What is the importance of the 7Ps in service marketing?
The 7Ps are the aspects of the marketing mix. They help determine how the business will be conducted, what methods to use, and how to promote it. It helps determine the objective and provides a guideline to achieve it.
Closing Statement
All the Ps in marketing refers to a specific field of the business. Each P helps to determine the objective of the business and provides a guideline to achieve that goal. It not only helps with business objectives but also helps with competitive analysis.
I hope this article about the 7Ps in service marketing is informative. If you have any queries or additions, comment them in the comment box.