Marketing Mix Model :: 4 P's, 5 P's and 7 P's - For SBI PO 2014

Marketing Mix Model :: 4 P's, 5 P's and 7 P's - For SBI PO

The Marketing Mix model (also known as the 4 P's) is a tool used by marketers while defining the marketing strategy.

"Marketing mix" is a general phrase used to describe the different kinds of choices organizations have to make in the whole process of bringing a product or service to market. The 4Ps is one way – probably the best-known way – of defining the marketing mix, and was first expressed in 1960 by E J McCarthy.

The 4 P’s are :

• Product (or Services)
• Price
• Promotion
• Place (distribution)

5 P’s of Marketing :

• 4 P’s
• Product
• Price
• Promotion
• Place (distribution)
• People

7 P’s of Marketing

• Product
• Price
• Place
• Promotion
• People
• Process
• Physical evidence