Price discrimination involves finding ways to charge your price insensitive customers more while still selling to price sensitive customers.
Value for Quality
PlaceThe distribution of your goods and services. For example, a luxury brand that puts full price shops in premium locations such as hotels, posh streets and airports and lower priced outlets in remote suburban locations.
promotion of brands, products and services.
Word of Mouth
PeopleThe last three elements of the marketing mix date to 1981 before the concept of Customer Experience emerged. They also appear to be awkward due to the apparent requirement for all elements of the marketing mix to start with the same letter. Nevertheless the following elements can be considered "people" related.
Customer Service Principles
ProcessElements of your operations. Any elements of operations that impact customers are better known as customer experience.
Physical EvidenceThis is more typically described as service environment and service tangibles -- any physical things that the customer experiences that aren't a product.
|Overview: Marketing Mix
Also Known As
4Psproduct, price, place, and promotion7Psproduct, price, place, promotion, people, process, physical evidence