How The 7ps Of Marketing Mix Can Improve Sales In Your Business

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This article shows you How The 7ps Of Marketing Mix Can Improve Sales In Your Business.

  • Products
  • People
  • Place
  • Price
  • Promotion
  • Process
  • Physical environment

Have you ever stopped to think of what it should look like if you open the door of your business to the public but no one come comes in to buy?

Without customers you will only remain in business for a short while. And your wallet will be empty.

Therefore, to enable you remain in business, you need to make effective use of marketing mix.

Marketing mix is made up of all the factors that you  can you to make customers buy your products.

The following factors play separate and collective roles to make sales happen.

Marketing mix: Products

You cannot talk of sales without mentioning products. So, products are important part of the marketing mix.

For example, for people to buy your products, the products should meet the following requirements:

  • High quality
  • Long lasting
  • Easy to use
  • Meet the needs of your customers
  • Make customer happy
  • And satisfied

Moreover, remember that customers do not just buy what you sell, they buy to:

  • solve their problems,
  • satisfy their needs,
  • make themselves happy

Therefore, your products should meet the needs and expectations of your customers.

Consequently, satisfied customers will give you referrals and recommend your business.

People

In business it is people that make things happen.

The people component of marketing mix is very important to the success of your small business.

For example, drivers, cashier, store keeper, stock clerks, invoice clerks all play one role or another to make sales happen.

Furthermore, public relations employees, marketers, customer service reps all play important roles in the selling process.

Most importantly, even the best products will not sell themselves. People must play some roles to close sales.

Marketing mix: Place

Place is another important component of marketing mix.

It plays important roles in the distribution of goods and services. It is the place where you have your shop, store or warehouse.

You should make sure that you sell your products in a place that is convenient to your customers. Place is also important to your suppliers and employees.

For example, a good place should meet the following conditions:

  • It must be convenient for your customers, suppliers and employees
  • It must have good access road
  • A certain level of security
  • Customers want to shop in a pleasant and attractive place
  • They want to improve their shopping experience.
  • Customers like beautiful and attractive sights
  • They like to see positive changes in the place.
  • Customers like a place they can proudly recommend to their friends

Therefore, you need to regularly upgrade the place where you do business.

This should enable you to keep your existing customers and get you new ones.

Your sales will improve. You will make more profits and your business will grow.

Price

Price is another important component of marketing mix.

Remember that price is just an estimate of what the customer will be willing and able to pay.

So has and will continue to be a source of worries to businesses. Yet prices must be set.

Firstly, if you price your products too high your customers will leave you.

Secondly, if you price your products too low, you run the risk of operating at a loss. This is because you will not be able to cover the costs of running your business.

Thirdly, customers will think that your products are inferior.

You should make sure that you set prices at levels that will enable you to compete in the marketplace.

Therefore, you should regularly review your product pricing strategies to enable you drive sales.

Marketing mix: Promotion

Business promotion is one of the important marketing mix you need to drive sales in your small business.

Advertising, public relations, marketing and sales promotion are some of the tools you need to drive sales into your shop.

For example, if you do not promote or advertise your business many people will not know that your business exists.

When you do business promotion, more people will get to know about your business.

Plus, the more people know your business, chances are that you will make more sales and profits.

Related:15 Best And Most Effective Ways Marketing Can Boost Sales In Your Business.

Process

Process here means what is takes to do business with you. And these include, among others:

  • Ability to meet deadlines
  • Excellent customer service
  • Ease of doing business
  • Trust and honesty
  • Helping customers, when they need help
  • Fulfilling your promises to them
  • Doing what you say you will do

Physical Environment

Physical environment refers  to the availability of suitable conditions that will enable you to do your business successfully. They include, among others:

  • Good access road
  • Parking slot for customers, suppliers and employees
  • Light and water
  • Security

For example, some areas may be known for crimes, violence and other criminal activities.

And so such areas cannot be suitable for you to do business because your can lose your investments.

For instance, suppose a customer parks his car in the front of your and somebody makes away with the vehicle.

This should be enough to make that customers to stop coming to your shop.

Most importantly, he will not give you referrals or recommend your business to his friends, family and associates.

Therefore, for you to grow your business, you should pay proper attention to the above marketing mix.

In conclusion, therefore, do remember that each of the above marketing mix complement each other to make sales happen. All of them are important. None should be ignored.

 

Samuel Ijenhi

info@samuelijenhi.com.ng

About Samuel Ijenhi

A graduate in Accounting, University of Benin, Benin City, Edo State, Nigeria.
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