Jasmin Magno

BSBA-MM D2021

LESSON 4 ASSIGNMENT

As a millennial Marketing student, I like to use the 4 p‘s of Marketing right

now since, after reading and understanding their descriptions and how they work, I
realize that it always depends on the situation. Why? As a Marketing student, if I were
to create a business, I would begin with 4 p’s, just as I would begin with the basic one.
Furthermore, the 4 p’s of marketing are the foundation of the concept of the mix and
have been used since then, while the 4 p’s of marketing can occasionally be expanded
to the 7 p’s: People, Process, and Physical Evidence.

But, before I begin implementing the 4 p’s or 7 p’s of marketing, I must first
determine the persona of my target audience. Understanding the specifics of who I am
are selling to will assist me in determining the specifics of your marketing mix.
According to the material, the 7 p’s of marketing assist a company in defining flaws
that affect the marketing of its product as well as creating a marketing guide that
allows you to better reach your clients and make sales. The 7 p’s are a marketing
combination of tried-and-true methods that work for both small and large businesses.

As student marketers have learned, the foundation of marketing is putting the

right product in the right place, at the right price, at the right time. These are
Promotion, Product, Place, and Price. Again these 4 p’s play a major role in delivering
the customer needs at the right time and the right place. The 4 p’s emphasize a seller-
oriented marketing strategy that can be hugely helpful for sales. Furthermore, helps
me understand what my product or service can offer to my customers. Helps plan a
successful product offering. Helps with planning, developing, and executing effective
marketing strategies. Allows organizations to capitalize on their strengths while
avoiding unneeded costs. By carefully combining all these marketing strategies into a
marketing mix, I can ensure they have a visible, in-demand product or service that is
competitively priced and offered to my customers.
 As a millennial marketing student, I understand the significance of using a
marketing mix. Identifying and arranging the aspects of my company's marketing mix
enables my company to make successful marketing decisions at every level. These
decisions assist a business in two ways: developing its strengths and limiting its flaws.
Improve its market competitiveness and adaptability. When we mention the 4 p's of
marketing, we are referring to Product, Price, Place, and Promotion. While the 7 p's
feature three of them, they are People, Physical Environment, and Process
Management.

So, as I previously stated, as a millennial marketing student I will prefer to

use, or I will start to use first the 4 p’s compared to 7p’s but again it is dependent on
the type of business in which I work whether I must focus on all 7 p's of marketing or
only the 4 p's. If I work in large corporations, those other large organizations are
working on a large platform, I must consider all 7 p's of marketing. When I work for a
small firm with a restricted number of products and people, the study or research is
conducted on a smaller scale that may only consider the 4 p's of marketing. As a
result, as a millennial marketing student, I choose to use 4 p's rather than 7 p's because
I am not at a large firm yet, even though both are important in business; it just
depends on the situation when you apply these two. After learning these two I will be
smart enough of using them. And knowing when and where to use these marketing
techniques.