Marketing Mix (6 Ps)

Product

The first P is your product or service derived from researching and satisfying the needs of your
customers directly.

When describing your products, you should list the benefits that your customer receives rather than
just listing attributes.

Highlighting the benefits helps structure the other “Ps”, especially promotional activities, and the
messaging in communications material. When aligning the features and benefits directed to your
customers, you should answer the following questions:

 What are the specific customer needs?

 Is the product part of an existing group?

 Are there variations in size, color, and cost?

 How does it differ from existing products already in the market?

Price

The second P is the price of your product and decisions surrounding overall pricing strategies. Pricing
is a complex area to get right.

A higher priced product often implies high quality, and consumers expect more value from the result
of their purchase. You can test levels of pricing for different target groups to find the right level of
pricing over time. Mix these with the perceived benefits and your pricing strategy should deliver the
profits and margins required.

You need to answer the following questions about price:

 What profits do you make from one sale?

 Are there discounts available, and in what circumstances?

 Is the price higher or lower than the average in the market?

 Will your competitors change their pricing after you’ve launched?

Promotion

The third P is about promoting your products and services. Promotional activities may include “above
the line” brand advertising, specific product offerings through below the line activities, face to face
selling, direct marketing and public relations.

When developing any marketing activities, you should consider the following:

 What budget do you have to communicate to your customers?

 Are you developing the plans in-house or using an agency?

 Will you use online promotion including social media exposure?

 How do your customers currently respond to marketing messages?

Place

The final P is about ‘place’. Location, location, location is a phrase often mentioned in retailing and is
still an essential part of the mix. If you operate a retail store, your location should be where there’s a
steady stream of potential customers walking past or easy access parking facilities.
When deciding on location or sales channels, ask yourself the following:

 Where are your customers physically located when making a purchasing decision?

 How are they going to get access to your product?

 What are all the sales channels to be used?

 Are there other distribution channels available to further extend your sales activities?

The Evolution to The 6Ps

As marketing evolved, University Professors also believed elements were missing. The latest mix now
includes people and processes to form “6Ps”.

People

Your staff make things happen in your organization, and it’s essential to have the right mix of
experience and knowledge to implement your plans.

Like all HR strategies, ensure they have clear responsibilities, are trained well in their area, and are
rewarded for performance achievements. Your management team also plays a key role in direction
and motivation.

Process

ISO 9001 is all about having processes in place that the company follows. Whether those methods are
improving the business is not a concern for this quality indicator.

The quality of your results and consistency should help set you apart from your competitors. Having
processes in place that work and adhered to makes for an efficient operation.

Benefits: ISO 9001 certification offers several advantages to organizations. It can enhance their
reputation, improve customer satisfaction, increase operational efficiency, reduce risks, and facilitate
access to new markets or clients, as many businesses require or prefer suppliers with ISO 9001
certification.

Summary of the 6Ps

Element Description

1: Product The customer benefits derived from using your products.

2: Price The buying cost and discounting practices for customers.

3: Promotion Communication plans highlighting why they should buy from you.

4: Place The location of all your sales channels.

5: People The staff involved in the selling and procurement process.

6: Process The operational procedures needed to procure a sale.