In marketing, there's a debate between the traditional Four P's and the modern Seven P's. The Four P's have been the go-to framework since the 1960s. They cover the fundamental aspects of any marketing strategy: ensuring the product meets customer needs, pricing it appropriately, making it available in the right places, and promoting it effectively.
The Seven P's add three more elements: People, Process, and Physical Evidence. As an expert marketer who's explored the marketing mix in great depth, I can assure you that the 3 P's—while not explicitly highlighted—were indeed considered within the original 4 P's framework. Although these elements are not new, People, Process, and Physical Evidence have always been very important. I do agree that today these elements are more crucial than ever. For example, in an increasingly frantic world where people are opting for self-service and less interaction with humans, these fewer interactions need to be meaningful. Just as consumers are becoming more picky when it comes to their online experience, they also feel the same about their face-to-face interactions.
The Seven P's emerged later to address the growing complexity of modern markets. By adding People, Process, and Physical Evidence, the marketing mix extends beyond the product itself to include the customer experience and the operational aspects of service delivery.
People: This involves both the employees who interact with customers and the customers themselves. Understanding and training employees to deliver excellent service can significantly enhance customer satisfaction.
Process: Efficient and customer-friendly processes can make a big difference in service delivery. Streamlining operations and ensuring consistency in service can improve the overall customer experience.
Physical Evidence: This includes all tangible aspects that customers interact with, such as packaging, branding materials, and the physical environment where the service is delivered. These elements help shape customers' perceptions and reinforce the brand message.
We agree that The Seven P's draws attention to three other key areas of marketing that businesses need to focus on in order to compete today.