7Ps of Marketing - Coursework Example

Title: Name: Instructor’s Name: Date of Submission: Introduction Marketing incorporates different activities. To get into marketing an organization or industry has to make a decision on the target group or the customers they aim at serving. When they decide on the target group, the product could then be placed in the market by giving it the required, price, distribution and promotion. These aspects should be mixed or combined in the required proportion to meet the marketing goal. The mix of the product, price, destruction and promotional efforts is known as marketing mix. In the recent decades, as customer abilities increase, marketing skills are becoming highly valued. Professionals who structure the marketing strategy are now contributing to the economy. Their skills can attract and retain customers and increase profit which results in wealth generation. On the other hand, the global food and drink industry is dynamic, and it has much competition. Moreover, with the increased attention to health and weight maintenance people are more focused on organic foods and not the junk food that has been offered in the food industry for quite some time. Therefore, the paper below lights on organic food as a trend in the food and drink industry. Through the analysis, the research details the 7ps of marketing and how the food and drink industry can succeed with organic food as a current trend. 7Ps of Marketing The 7ps of marketing are concerned with what the industry is going to produce, the amount it is going to charge, how the produce and service will be delivered to the customer and how it will inform the customers of its products and services. These four considerations were traditionally known as the 4ps, Product, Price, Place and Promotion. Over the decades marketing has become more sophisticated, and a fifth aspect was added which considered People; this was added as the fifth P. Recently, two more Ps which cover Process and Physical Evidence was added (Ivy, 23). Hence, the paper analyzes these aspects of marketing as applied in the food and drink industry. Product For the industry to succeed, before coming up with a product, the organization investigated what the customers need, and it ensured that they manufacture the product with the right quality level so as to meet their expectation both now and in the future. The product includes the goods and services offered by the industry (Ivy, 40). In this case, the food and drink industry is offering organic food. The industry pays attention to what the customer needs, for instant the nutrients required, the taste, and whether or not the product contributes to weight gain or weight loss. With such specifications, the customer assesses whether the food will meet one or more of his or her needs. Customers will focus not on the appearance but on how the food will benefit them. Therefore, the industry describes their organic food by paying attention to the benefits it offers. For instance, some people who are focused on gaining weight might buy junk food despite it being unhealthy. Hence, since organic food is mainly for those who want to maintain a healthy diet, the industry ensures that it has a balanced level of nutrients including proteins, vitamins, carbohydrates and fat and these are indicated on the package with their respective amounts. Price A product can only be priced according to what the customers are prepared to pay for it. The price should be competitive, but this does not imply that the industry should have the lowest price in the market. Smaller business can also compete with big businesses by offering a more personalized service, better value for money or value adds (Ivy, 56). Pricing involves many aspects such as prices charged by competitors; costs involved demand for the product, government restorations, and consumer’s readiness to pay, among others. Pricing is very important as it influences the demand of the product and how profitable the firm will be. The food and drink industry, therefore, chose the most appropriate pricing strategy. Since organic food is a current trend in the firm, the organization chose a pricing strategy that is focused on penetration in the market. In this case, the organization offers the products at lower prices to attract buyers and to draw tension away from their competitors. Despite this strategy causing loss of income in the early stages, it increases awareness among the customers which builds the brand and ensures that the firm stands out. After the organization effectively penetrates into the new market, it can then raise the price to reflect their standard in the market. However, this could mean that the price could be set at a premium. If this is the case, the business should ensure that the organic food is worth the price tag. The business must offer a high-quality product and a unique product that stands out from the competitors. Place (Distribution) The product must be made available to the consumers at a place where they can conveniently access. The organization has to specify whether it will sell the product directly to the retailer or through the distributor or the wholesaler. The organization could also sell directly to the consumer. The product should be at the right place at the right time and in the right amount while also maintaining storage, inventory and destruction costs at an acceptable level. The organization should pay attention to delivery performance as it has been said to be among the most crucial criteria when selecting a supplier. The place also includes the ways of displaying the product to the consumer groups. This could be online or in a shop window. In this light, if the organization chooses to use the internet, they must emphasize on the firm’s website and other online activities. Moreover, if the business opts for online, it should know how the product will reach the customer even if it is a third party. Promotion Promotion is concerned with whether the product is manufactured according to the consumer’s needs. It is also concerned with whether the product is available in places where the consumer can access and whether the consumer is aware of the prices, availability and features (Ivy, 78). Hence, in this case, the promotion will be concerned with informing, persuading and influencing customers to choose the organization’s product and not from the organization’s competitors. Indeed, majority companies use personal selling as a way of both public advertising and promoting sales. While promoting the product the business focuses on providing information to the customers about the product’s characteristics, its availability and its uses. Through effective promotion, the organization will lure the interest of the client making them choose their product instead of their competitor’s. The organizational therefore promotes the product trough social media such as Facebook and Twitter. In these platforms, the organization informs customers on the benefits of the organic food by analyzing the nutrients it contains, the price, and its availability. It also advertises through the media to increase awareness. While promoting the organization ensures that it does not only focus on one-way communication but involve dialogues with the customers whether online or in person. People Anyone who comes into contact with the customers makes an impression, and the impact could affect customer satisfaction either positively or negatively. The people determine the reputation of the organization's brand and hence the organization should emphasize on their training motivation and nurturing the right attitude. The organization ensures that the employees who interact with the customers are not only trained, but they are the right people for the job. In most cases, customers do not separate the product or service from the staff member who offers it. Hence, the organization ensures that the employees are keen and focus on customer satisfaction. One way of adding value to the brand is determined by the level of the brand’s sale support and advice provided by the organization. Following up can give the organization a competitive advantage. To most customers, this might be more important than price making it crucial. The organization should look at the product that records the highest sales. It should be assess whether the product has adequate after support, whether the organization is being complacent with it, and whether it could be given support without too much additional cost. In the current digital age, every employee can reach a mass audience. The organization should hence, come up with a policy that monitors online interaction and ensures that everyone stays on message. Happy customers act as great promoters and advocates of the business. The organization should hence curate favourable opinion on the review sites. Process The sixths P describes the process of giving a service. The behaviour of the person that delivers the service is vital since it influences customer’s satisfaction. The organization should pay attention to issues such as waiting time; the information was given to customers and how the staff treat customers are as this important in keeping the customers happy. In this case, the organization has understood the customers are not interested in knowing how the business is run, but they are only interested in seeing the system work. Hence, to reduce waiting time, the organization has five tellers. The organization has adopted digital advertising screens where the customers are informed about its products as they wait in the queues and as they shop. In the stores, some attendants roam around, and the customers can ask them questions whenever they encounter a problem. By ensuring that the staff members interact well with the customers, the organization ensures that the services are carried out efficiently. Physical Evidence The products offered in stores such as supermarkets, and the company ensures that these stores are clean and tidy. The company has placed staff members at these supermarkets to ensure that they guide the customers whenever they have trouble and also equip the customers with information. Conclusion As indicated earlier, products refer to the services goods offered by the organization. The organization should know that the customer is not interested in just the physical appearance of the products but the tangible and intangible characteristics of the product that will benefit the customer. For example, if the client buys an organic food product she or he buys it to fulfil some nutrition needs and the customer is not merely buying it for its taste. It is deducible that the organization described above has incorporated the 7PS of marketing in the marketing of the organic food product. Due to the increased sophistication in the commercialization platform, other industries should adopt this framework to penetrate into new markets and maintain the niche that they already have. Work Cited Read More