The seven Ps, or ‘marketing mix’, have been presented as a series of dimensions on which one might vary a product or service. Getting the right mix means engaging customers and matching the mix at different stages of your enterprise and product/service development. In early phases you might work with customers to get the product right, to provide physical evidence of the quality or the process, to get the people element right and establish the optimum price. For example, imagine you open a sandwich shop surrounded by offices and other similar eateries. If the value you offer is the same as all the others (i.e. no discernible differences in the quality of food, service or environment) then your price may need to be competitive. If you are an artisan baker selling sandwiches, then price might be a less dominant factor than fresh bread baked on the premises using traditional recipes and locally sourced fillings.
Activity 5 Differentiating your enterprise from the rest
Timing:Allow about 15 minutes
Which Ps are dominant for your enterprise? Run through the seven Ps and think how you could positively differentiate your offer from others in relation to each of them. Once you have done this, try to think where you want to be in the short term (a year), medium term (five years) and long term (ten years), and how your focus may switch.
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