Analyzing and Exploring the Effectiveness of Each Element of 7Ps of Marketing Mix

Abstract

It is now obvious that like most economies the world over, Indian economy is progressively becoming service economy and so there is a need to manage services in the best possible way. Services are so varied & diverse that one need to be managed strategically. It is now obvious that like most economies the world over, Indian economy is progressively becoming service economy and so there is a need to manage services in the best possible way. Services are so varied & diverse that one need to be managed strategically. Here main emphasis has been given on the service sector & hence aim of article is to analyze the marketing mix. It’s a part of service marketing, where Product, Price, Place, Promotion, People, Process & Physical evidence are the vital this is also known as 7P concept in marketing phenomenon. In this paper is a detailed study of marketing mix where it’s objectives, elements, importance and its effects on Indian consumers related to rather than product / service, price / fees & promotion. The importance of each element depends not only on the organization and its activities, but also on the competition and time. All marketing elements are interrelated and should be seen in the whole of their actions. Sometimes to analyze, descriptive analysis to know the best practice among the seven marketing tactics Marketing elements: product, price, place and promotion are used for marketing objectives. These instruments operate most efficiently when all the elements are combined and working together.