Why Does Knowing the 7 P’s of Marketing Help Students Build a Successful Career?

Principles run good marketing. Wise words can give you a quick glimpse of everything discussed in this article. The marketing world is also booming fast with the increasing use of media and digital platforms. It is a career that excites creativity. Several students are now moving toward this field because of its vast scope of opportunities.

A few things play a significant role in their successful academic career. Like hard work, discipline, consistency, expert support, and assistance from professional writers that can be found with marketing assignment help. These are the core items a student should have to maintain a strong base for their marketing career. But other things are necessary for them to know for a better professional life. These are the principles of marketing.

Why Is Knowing Marketing Principles Important for Students?

Marketing has seven crucial principles known as the 7 P’s of marketing. These are as necessary for a student to follow as it is to be ethical in your work. These principles were first derived in 1960 by E. Jerome McCarthy in his book "Basic Marketing". They help students learn the value of satisfying customers' needs and wants. It also supports you in following the right path in planning a promotion.

What Are the 7 P’s of Marketing?

1. Product

The product is the first marketing principle to focus on. It is an item developed to address a customer's needs. It can be tangible or intangible, depending upon the business. For example, a service from a company is intangible, and any object purchased is tangible.

2. Price

It is defined as the amount a company charges its consumers for its products. The price of either tangible or intangible product is decided. It is based on what the user is prepared to pay for it, including all the charges.

3. Promotion

This P is all about finalising the idea of marketing the product. Strategies used to formulate suitable means of promotion are defined under this principle. The main reason behind choosing the most appropriate promotional method is to increase sales.

4. Place

The fourth P of marketing is choosing the place the product will be available for the consumer to buy. Not necessarily; physical availability is essential. However, it can also be done through virtual means. It is because one out of four people shops online.

5. Packaging

It is no different for tangible or intangible products. A consumer should receive something physically to validate their purchase. Even if the business provides a service, there should be physical evidence of the same in the results.

6. Positioning

Positioning is about the place a business or a product holds in the hearts or minds of the people. How does the user think or talk about the product? Analyse if they interact with your brand or if your marketing interests them.

7. Process

The process of creating a product is also essential to understand. For example, what happens when a service is designed? Or how it is delivered to the customer. It can be called the consumer experience journey, and it decides what impact you have on them.

As a marketing student, you should be disciplined to follow all the above principles. These are the key factors that decide success in the promotional field. Also, marketing assignment help is the support needed to get through the challenging year of university. Their assistance will take you toward the right path of learning with the content crafted by marketing experts.