Marketing and 7p

A brief summary of marketing

and how it works

Marketing and the 7Ps: A brief summary of marketing and how it work

“ Marketing is the

management process

responsible for

identifying, anticipating

and satisfying customer

requirements profitably.”

2  Marketing and the 7Ps – © CIM 2015

Marketing and the 7Ps: A brief summary of marketing and how it work

01 is marketing?

What

Every product we buy, every store we visit, every media message we

receive and every choice we make in our consumer society has been

shaped by the forces of marketing.

CIM (The Chartered Institute of Marketing) offers the following definition for marketing:

“ The management process responsible for

identifying, anticipating and satisfying customer

requirements profitably.”

Sometimes people assume marketing is just

about advertising or selling, but this is not the

whole story. It is a key management discipline

that ensures producers of goods and services

can interpret consumer desires and match, or

exceed them.

The marketing process is central to the business

performance of companies, both large and small,

because it addresses the most important aspects

of the market. It is about understanding the

competitive marketplace and ensuring you can

tap into key trends, reaching consumers with the

right product at the right price, place and time.

Clever marketing has led to many

recent business success stories - from

pharmaceuticals to airlines, sports brands to

food and drink, business-to-business companies

to small, niche players.

Getting close has become more important than

ever as digital and mobile technology make

inroads into all aspects of life. This revolution

has also provided new tools to make marketing

more targeted, relevant and effective.

Today, as competitive pressures increase,

marketing skills have never been more highly

valued. What was once seen as a departmental

activity is now regarded as a frontline business

attitude for all...