The 7Ps Marketing Mix: Overview and Product

Flashcards covering the 7Ps marketing mix overview and the key considerations an entrepreneur must make regarding the Product element.

In the 7Ps framework, how is "Product" briefly defined?

What you offer

In the 7Ps framework, how is "Price" defined?

How much it costs

In the 7Ps framework, how is "Place" defined?

Where it's sold

In the 7Ps framework, how is "Promotion" defined?

How it's marketed

In the 7Ps framework, how is "People" defined?

Who delivers the services

In the 7Ps framework, how is "Process" defined?

How it's delivered

In the 7Ps framework, what is "Physical Evidence"?

The tangible elements that build trust

What is the detailed definition of a "Product" (what you are selling)?

Goods or services a business offers to satisfy customer needs.

When considering "Product Features & Benefits," what key question must an entrepreneur ask?

What makes it unique or better?

When evaluating "Quality and Design," what question must an entrepreneur answer?

Does it meet customer expectations?

When developing "Branding" for a product, what key question must be addressed?

How will customers recognize and remember it?

Regarding product "Lifecycle," what question must an entrepreneur consider?

How will it evolve over time?

In terms of "Product differentiation," what question must an entrepreneur answer?

What makes it stand out from competitors?