8 P's Of Marketing Including The Updated Service Marketing Mix

Continuing with my series of the marketing mix, I want to cover the version known as the 8 P's of Marketing.

I've deliberately skipped over the 7 P's of marketing because I want to write a longer article on service marketing but so far I have written about:

4 P's of marketing - the traditional marketing mix of price, product, place and promotion and which is the basis for a free report - marketing mix pdf.

5 P's of marketing

6 P's of marketing

The 8 P's Of Marketing

I'm going to take you through different versions of the 8 Ps of Marketing. The first two are developments of the traditional 4 P's while the third is based on the 7 P's of service marketing which an extra item added.

The purpose of any of these marketing mixes is to help you to plan and implement a successful marketing campaign by focusing on the key issues involved. Extra P's are added partly because the marketing experts want to differentiate themselves by using a slightly different system and partly because they believe an important item is missed.

I also use the 4 M's of marketing - mindset, message, market and media - which is a combination of dan Kenendy and Guerrilla marketing thinking.

8 P's of Marketing version 1

Product
Price
Placement
Promotion
Perspective
Philosophy
People
Planning

You can find out more about this version here  

http://www.acacamps.org/campmag/issues/0809/marketing.php

8 P's of Marketing Mix version 2

Product
Pricing
Promotion
Placement
Personalization
Participation
Peer to Peer
Predictive modelling

The last four added in this version are quite unusual.

You can find out more about this version here

http://jtonedm.com/2008/07/07/heres-why-decisions-matter-to-the-8-ps-of-marketing/

8 P's of Marketing Mix version 3

Price
Product
Place
Promotion
Positioning
People
Process
Physical evidence
i.e. like the service marketing mix with positioning added

You can find out about this version here

http://readbetweentheps.blogspot.com/2005/06/financing-more-ps-in-micro-finance.html

8 P's of Marketing Version 4 - The Updated Service Marketing Mix

In 2007 the 7 P's of service marketing was enhanced by Lovelock and Wirtz to create an 8 P's of marketing:

Product elements

Place and time

Price and other user outlays

Promotion and education

Process

Physical environment

People

Productivity and quality

You can find out more about this 8 P's of marketing which is probably the one with most apporval from academics

http://wiki.answers.com/Q/What_are_the_8_P%27s_of_services_marketing 

http://business-fundas.com/2011/the-8-ps-of-services-marketing/  

http://factoidz.com/what-are-the-8-ps-of-marketing/

8 P's of marketing Version 5

This next one has two words with P I think are very important - positioning and profits.

Product

price

Place

Promotion

Positioning

Personal relationships

people

profits

You can learn more about this version at

http://mba.zainbooks.com/terms/marketing/8-ps-of-marketing.shtml

8 P's of marketing Version 6

This one is more specialised as it is the 8 p's in social marketing and institutional repository (I don't even understand the title).

People

Price

Promotion

Place

Public

Partnership

Policy

Purse Strings

You can find out more about this one at

http://www.ariadne.ac.uk/issue49/gierveld/  

My Thoughts On the 8 P's of Marketing

Plenty of variety again and we don't stop at 8 P's either - there are plenty more extended marketing mixes to consider.

My criticism of many of these varieties is that they miss out on what i consider to be two essential P's of marketing - Purpose (often profit) and Positioning.

As an expert in differentiation, I'm inevitably going to want to understand about positioning and what makes the offer distinctive. I also believe that if you are thining of doing anything in marketing, you must be very clear about the purpose.

A campaign for sales is very different from one to establish brand positioning or one to create brand name recognition. Look at the advertisements around you and ask yourself, what is the purpose? It's often not selling and hardly seems to register as brandingif it's one of those designer pretty advertisements with the brand in tiny letters.

What Do You Think of the 8 P's of Marketing? 

Do any of the options available for the 8 P's of marketing present a compelling argument to you?

Do you think that key aspects are missing?

If you had to choose 8 P's of marketing, what would they be? 

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