4P, 7P and 4C: fundamental components of the marketing mix

Marketing, much like crafting a masterpiece, involves the harmonious integration of various tools. Picture it as painting with different techniques, where each method boasts its unique advantages while collaboratively working towards a common goal. This collection of tools is aptly known as the marketing mix. Ever heard of the 4Ps? What about the 7Ps? And the 4Cs? Keep reading to delve into the intricacies of the marketing mix!

Understanding the  marketing mix

The marketing mix stands as the cornerstone of marketing strategies. If you've encountered marketing theory in your studies or professional journey, chances are the marketing mix rings a bell. It's a straightforward concept, representing a toolkit employed to attain marketing objectives. When orchestrating a compelling marketing campaign, we have an array of elements at our disposal, each complementing and reinforcing the others. Think of it as blending ingredients for the perfect cocktail.

The roots of the marketing mix trace back to 1948 when James Culliton likened marketing to a recipe. In 1953, Neil Borden referred to Culliton's "recipe" as a marketing mix. Taking it a step further, E. Jerome McCarthy introduced the 4P theory within the context of the marketing mix. In the following sections, we delve into this foundational theory and explore some derivative models.

The 4P modell

At the heart of marketing lies the influential 4P model, encompassing four core principles: Product, Place, Price, and Promotion. Let's delve deeper into each of them!

Product

The product stands as a pivotal element in the marketing mix, encompassing everything a company offers in the market, be it a tangible product or a service. It essentially shapes the company's market position, underscoring the importance of providing something that meets consumer and customer needs.

Place

Beyond merely where the product is sold, 'Place' extends to logistics, product placement, and sales methods, encompassing both online and offline avenues. Thus, the route and method by which the product reaches customers become vital aspects of the marketing strategy.

Price

Pricing strategy involves determining the cost of our product. Price significantly influences customer decisions and has the power to either create or diminish consumer value. Factors such as competition, cost, consumer perceptions, and customer expectations of value must all be considered in the pricing equation.

Promotion

This facet of the marketing mix encompasses all marketing communication activities aimed at conveying the value of the product or service to customers. From offline to online or digital marketing, promotion creates visibility, boosts customer awareness, attracts opportunities, and spurs purchases.

7P model

Evolved from the traditional 4P model, the comprehensive 7P model expands the marketing toolkit, introducing three additional elements: People, Physical Evidence, and Process. Particularly pertinent in service marketing, this model offers a holistic approach.

People

Regardless of product excellence or technological innovation, the human factor in sales plays a critical role in shaping the customer experience. 

Those in direct contact with customers, whether salespeople, customer service staff, or managers, significantly impact customer perception and purchasing decisions.

Physical Evidence

Incorporating elements that profoundly influence customer experience and satisfaction, physical factors range from store layouts and service locations to employee appearance and visual elements of the corporate image, such as the logo. 

Process

The comprehensive process encompasses the entirety of the purchase journey, including sales, returns, complaints, delivery options, and loyalty programs. Well-structured processes contribute to an organized, seamless, and convenient shopping experience, fostering customer satisfaction and loyalty.

The 8th P, the purple cow

Seth Godin introduced the eighth addition to the 7P model - the Purple Cow. Symbolizing the need to stand out and captivate the audience's attention, it emphasizes the importance of uniqueness in marketing.

The 4C modell

Pioneering a customer-centric marketing strategy, the 4C model comprises four key components: Clients/Consumer needs, Cost, Convenience, and Communication.

Client / Consumer needs

Analogous to 'Product' in the 4P model, this component centers on understanding the needs the product fulfills and the problems it solves for the consumer.

Cost

Replacing 'Price' in the 4P model, the concept of cost delves into a more complex realm, encompassing not just the product's price but also maintenance costs, expenses tied to a new purchase, and alternative costs.

Convenience

Redefining 'Place,' the concept of convenience shifts focus from product location to accessibility, recognizing the critical role ease of access plays in customer decisions.

Communication

Contrasting traditional push marketing, the 4C model emphasizes pull marketing, attracting consumers to products and services without coercion. Various communication tools, including social media, advertising, personal selling, and direct marketing, are employed to achieve this.

The 4P, 7P, and 4C models, akin to reliable compasses, stand as indispensable guides for crafting an effective marketing plan. These models empower companies to deliver value to customers while carving out their unique market position.

Uncertain about how to proceed? Lack the necessary knowledge and experience? Want to make the most of your marketing budget? Need guidance and a boost? At Meraki, all you need is your goal, and we'll guide you on the path to development and growth!  Contact us, and we'll support you every step of the way!