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    Marketing and Promotion Strategies: The Six PS' of Marketing

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    Somya Kumari
    Marketing is the process of promoting a business's products or services to potential customers. There are six key aspects, known as the "six Ps", that make up an effective marketing strategy: product, price, promotion, place, people, and processes. The document outlines each of the six Ps - what they refer to, factors to consider, and examples of common strategies. Effective use of the six Ps framework can help small businesses develop products and services that meet customer needs, set competitive prices, promote their brand, distribute through appropriate channels, engage stakeholders, and implement supporting processes.

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    Marketing and Promotion Strategies: The Six PS' of Marketing

    Uploaded by

    Somya Kumari
    35 views3 pages
    Marketing is the process of promoting a business's products or services to potential customers. There are six key aspects, known as the "six Ps", that make up an effective marketing strategy: product, price, promotion, place, people, and processes. The document outlines each of the six Ps - what they refer to, factors to consider, and examples of common strategies. Effective use of the six Ps framework can help small businesses develop products and services that meet customer needs, set competitive prices, promote their brand, distribute through appropriate channels, engage stakeholders, and implement supporting processes.

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    Marketing is the process of promoting a business's products or services to potential customers. There are six key aspects, known as the "six Ps", that make up an effective marketing strategy: product, price, promotion, place, people, and processes. The document outlines each of the six Ps - what they refer to, factors to consider, and examples of common strategies. Effective use of the six Ps framework can help small businesses develop products and services that meet customer needs, set competitive prices, promote their brand, distribute through appropriate channels, engage stakeholders, and implement supporting processes.

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    35 views3 pages

    Marketing and Promotion Strategies: The Six PS' of Marketing

    Uploaded by

    Somya Kumari
    Marketing is the process of promoting a business's products or services to potential customers. There are six key aspects, known as the "six Ps", that make up an effective marketing strategy: product, price, promotion, place, people, and processes. The document outlines each of the six Ps - what they refer to, factors to consider, and examples of common strategies. Effective use of the six Ps framework can help small businesses develop products and services that meet customer needs, set competitive prices, promote their brand, distribute through appropriate channels, engage stakeholders, and implement supporting processes.

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    https://www.smallbusiness.wa.gov.

    au/business-advice/marketing/marketing-and-promotion-strategies

    Marketing and promotion strategies


    Marketing is the process of getting your business noticed by the people who need or want your
    products or services. Many small businesses come up with a fabulous business idea but then fail
    to market it successfully.

    You need to get out there and spread the word about your products or services to the right people
    to build your customer base. Advertising and selling are part of the process but there is much
    more involved.

    The six ‘Ps’ of marketing

    There are generally six key aspects that you need to focus on when marketing your
    products or services. These aspects are sometimes referred to as the six ‘Ps’:

     product
     price
     promotion
     place
     people
     processes

    Product

    Product refers to the goods or services you are offering. You might consider a
    range of factors such as packaging, labelling, branding and quality when
    developing your product.

    Price

    Setting a suitable price for your products or services will help you to be profitable
    and stay competitive. Start by including all the costs associated with producing and
    delivering your products and services, then research your target market to
    determine how much they would be willing to pay. If there is a gap you have more
    work to do – perhaps reducing your costs or focusing on a different market.
    Promotion

    Promotion refers to the methods you will use to advertise and sell your products
    and services. Promotional methods may include:

     website
     social media
     blogging
     e-newsletters
     networking
     brochures and flyers
     TV, radio or print advertising
     word of mouth
     loyalty and reward programs
     mail-outs and letter drops
     sponsorship
     PR activities such as media releases and events

    Place

    This aspect of marketing refers to how your customers will be able to purchase
    your products or services. Distribution channels may include:

     retailing direct to the public through a store or outlet


     selling goods via wholesalers
     retailing online
     using distributors, consultants or agents to sell your products

    When deciding which channel to use, consider your target market and the logistics
    involved in getting your products and services to them.

    People

    You will most likely have to engage with suppliers, distributors, wholesalers,
    stakeholders and employees to get your product or services to market. These
    groups all form part of your team. You need to ensure they understand the
    importance of providing quality products and customer service.
    Processes

    The right customer service and business processes are essential to support your
    marketing goals. They may include procedures for ordering new stock, ensuring
    products or services are delivered in a timely manner, providing opportunities for
    customers to give feedback and regularly reviewing sales and financial reports.

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