8P Marketing Model

8P Mar­ket­ing mod­el — I can’t help but talk about the mar­ket­ing mix and extend­ed mar­ket­ing mix — as many as 8p. As usu­al — sim­ple and clear.

8P Marketing Model: Creating a Successful Product Promotion Strategy

The 8P mar­ket­ing mod­el is an effec­tive tool that helps com­pa­nies devel­op a suc­cess­ful prod­uct pro­mo­tion strat­e­gy in the mar­ket. In this arti­cle we will look at the main com­po­nents of this mod­el and how they inter­act with each other.

1P: Product

Prod­uct is the core com­po­nent of the 8P mar­ket­ing mod­el. It includes all aspects of the prod­uct or ser­vice that a com­pa­ny offers to con­sumers. To cre­ate a unique and com­pet­i­tive prod­uct, it is nec­es­sary to take into account the needs and pref­er­ences of the tar­get audience.

The com­pa­ny must offer a prod­uct that meets con­sumer expec­ta­tions, has advan­tages over sim­i­lar prod­ucts in the mar­ket, and is sup­port­ed by high qual­i­ty. In addi­tion, it is nec­es­sary to con­stant­ly inno­v­a­tive­ly devel­op the prod­uct in order to main­tain its com­pet­i­tive position.

2P: Price (8P marketing model)

Price is the amount of mon­ey a con­sumer is will­ing to pay for a prod­uct or ser­vice. Deter­min­ing the right price is a crit­i­cal step in devel­op­ing a mar­ket­ing strat­e­gy. When set­ting a price, it is nec­es­sary to take into account the cost of pro­duc­tion, an analy­sis of mar­ket con­di­tions, the com­pet­i­tive envi­ron­ment, as well as the needs and abil­i­ties of the tar­get audience.

The com­pa­ny must strive to set the opti­mal price that not only makes a prof­it, but also remains com­pet­i­tive. Some­times mar­keters use price dif­fer­en­ti­a­tion strat­e­gy by offer­ing dif­fer­ent prod­uct options at dif­fer­ent prices to attract dif­fer­ent mar­ket segments.

3P: Promotion

Pro­mo­tion is a set of activ­i­ties aimed at attract­ing atten­tion to a prod­uct and its adver­tis­ing. In today’s world, where the com­pe­ti­tion in the mar­ket is increas­ing­ly increas­ing, it is nec­es­sary to cre­ate unique and notice­able adver­tis­ing cam­paigns. Devel­op­ing a mar­ket­ing plan for prod­uct pro­mo­tion includes iden­ti­fy­ing the tar­get mar­ket, select­ing com­mu­ni­ca­tion chan­nels, devel­op­ing a cre­ative con­cept and mon­i­tor­ing the effec­tive­ness of the adver­tis­ing campaign.

Pro­mo­tion includes var­i­ous mar­ket­ing tools such as media adver­tis­ing, social media pro­mo­tion, hoard­ing adver­tis­ing, event spon­sor­ship, etc. Deter­min­ing the right pro­mo­tion strat­e­gy helps a com­pa­ny to attract the atten­tion of the tar­get audi­ence and increase sales.

4P: Place (distribution)

A place is a place where a prod­uct is sold or a ser­vice is pro­vid­ed. Choos­ing the right dis­tri­b­u­tion chan­nel is an impor­tant com­po­nent of a suc­cess­ful mar­ket­ing strat­e­gy. It is nec­es­sary to take into account the needs and pref­er­ences of the tar­get audi­ence when choos­ing a place of sale.

Dis­tri­b­u­tion of goods can be car­ried out through var­i­ous chan­nels, such as retail stores, online stores, whole­sale sup­plies, fran­chis­ing and oth­ers. The cor­rect choice of dis­tri­b­u­tion chan­nel allows the com­pa­ny to achieve max­i­mum cov­er­age of the tar­get audi­ence and ensure easy avail­abil­i­ty of the prod­uct or service.

5P: Packaging (presentation)

Pack­ag­ing is the visu­al rep­re­sen­ta­tion of a prod­uct or ser­vice to the con­sumer. It is impor­tant in cre­at­ing the first impres­sion of a prod­uct. The com­pa­ny must devel­op attrac­tive and func­tion­al pack­ag­ing that match­es the image and tar­get audience.

Pack­ag­ing must attract atten­tion, be con­ve­nient to use, sat­is­fy con­sumer needs and be dif­fer­ent from com­peti­tors in the mar­ket. It is one of the key fac­tors influ­enc­ing pur­chas­ing deci­sions and stim­u­lat­ing sales.

6P: Personnel

Per­son­nel are peo­ple who work in a com­pa­ny and inter­act with cus­tomers. They are the face of the com­pa­ny and have a direct impact on cus­tomer ser­vice and sat­is­fac­tion. Staff train­ing plays an impor­tant role in improv­ing ser­vice qual­i­ty and estab­lish­ing long-term rela­tion­ships with clients.

The com­pa­ny should have friend­ly and pro­fes­sion­al employ­ees who are ready to help the client with all issues. Sat­is­fied cus­tomers are ready to turn to the com­pa­ny again and rec­om­mend it to their friends and acquain­tances, which helps to increase sales vol­umes and cre­ate a pos­i­tive image of the company.

7P: Process

A process is a sequence of actions that a cus­tomer under­goes when pur­chas­ing a prod­uct or ser­vice. When cre­at­ing a mar­ket­ing strat­e­gy, it is nec­es­sary to devel­op a con­ve­nient and effec­tive pur­chas­ing process, from the moment of famil­iar­iza­tion with the prod­uct to receipt and use.

The pur­chas­ing process may involve var­i­ous steps such as review­ing prod­uct infor­ma­tion, select­ing and com­par­ing alter­na­tives, plac­ing an order, deliv­ery and pay­ment. Cre­at­ing a sim­ple and clear process helps the cus­tomer reduce the time and effort required to com­plete a pur­chase, which in turn increas­es cus­tomer sat­is­fac­tion and sales.

8P: Physical Environment

The phys­i­cal envi­ron­ment is the atmos­phere and ambiance found at the place where a prod­uct is sold or a ser­vice is pro­vid­ed. Cre­at­ing a pleas­ant and com­fort­able envi­ron­ment con­tributes to a pos­i­tive per­cep­tion of the prod­uct and increas­es sales.

The com­pa­ny should pay atten­tion to inte­ri­or design. As well as light­ing, music, smells and oth­er ele­ments that affect the over­all cus­tomer expe­ri­ence. In addi­tion, it is impor­tant to keep the place of sale clean and tidy. To cre­ate trust and con­fi­dence in the client.

8P Marketing Model — Conclusion

The 8P mar­ket­ing mod­el is a flex­i­ble tool that helps com­pa­nies devel­op a suc­cess­ful prod­uct pro­mo­tion strat­e­gy. Each com­po­nent of the mod­el influ­ences the oth­er and togeth­er they cre­ate an effec­tive and com­pet­i­tive mar­ket­ing strategy.

Devel­op­ing a mar­ket­ing strat­e­gy based on the 8P mod­el allows the com­pa­ny to take into account the needs and pref­er­ences of the tar­get audi­ence. And also attract atten­tion to the prod­uct, increase sales vol­umes, and improve the qual­i­ty of ser­vice. And cre­ate a pos­i­tive image of the company.

Use the 8P mar­ket­ing mod­el to cre­ate a suc­cess­ful strat­e­gy for pro­mot­ing your prod­uct or ser­vice. And achiev­ing suc­cess in the market.

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More posts about dig­i­tal mar­ket­ing on my blog.