What is the meaning of 8 Ps in Marketing?

8Ps is a marketing tool and strategy or cool language called marketing mix that is used by companies to achieve their goals in the field of marketing. In a simple function, among others, strengthen the company's image, increase the number of customers, increase sales, strengthen the competitive position.

Initially this marketing tool consists of 4Ps namely product, price, place, promotion. However, over the times, internal marketing tools are needed to increase the company's competitiveness, namely process, people, physical evidence, and the most recent is productivity & quality. The following explanation:

1. Product

Products are goods or services that the company markets to consumers. Straregi that needs to be owned by a product include:

It must be something that the market wants
Understand the needs and desires of consumers
Has an outstanding point compared to competitors

2. Price

Price is the amount of money that consumers have to spend on a product. Strategies related to determining this price include:

Pricing must reflect the positioning of products on the market.
Pricing should cover production costs and margins.
Pricing should not be greedy and greedy
Pricing also needs to consider the prices of competitors in the market

3. Place

This place is a distribution strategy so that a product can be easily obtained by consumers. Strategies that can be applied to distribution include:

Selling directly to consumers, for example door to door, retail, e-commerce
Selling through resellers, useful to expand the distribution area
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4. Promotion

Promotion is all the company's activities to inform consumers about the products being sold. The following promotional strategies can be applied:

Advertising, can be through television, radio, billboards, internet, etc.
Personal selling, individual sales use salespeople.
Sales promotion, special offers so consumers are increasingly interested in buying products

5. Process

The process in question is how the flow chart, system and company procedures maintain the quality of the product or service starting from the initial stage to the product or service to the consumer and also how the company handles complaints

6. People

People here refer to company employees consisting of several elements such as, directors, middle management and staff. Companies need to have good culture and provide training so that employees can serve consumers well.

7. Physical Evidence

Is a building or facility that represents a company. The building needs to create a good ambience or ambience so as to provide a plus for consumers

8. Productivity & Quality

Explain how a company converts input from consumers into outputs that have maximum benefits for consumers.

In order for a company to STAND OUT among a crowd of competitors, they must try to excel in the 8P field above other competitors. Then do not condemn the possibility also bring in the future there will be the 9th P and the 10th P. Therefore we as humans should never stop to learn.

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