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shibli:
the 15 P's of Marketing


1.Product

2.Price

3.Place

4.Promotion

5.People

6.Process

7.Physical Evidence

8. Privacy

9.Personal Interest

10. Personal Social Networks

11. Public Commentary

12. Personalization

13. Participation

14. Peer to Peer

15. Predictive Modeling

shibli:
5. People: For most services, people are a vital element of the marketing mix. The interaction between staff and customers can be the essential turning point between any decision making process.


6. Process: A service firm has no products, only interactive processes – Gronroos, 2001 cited from Adrian Palmer Principles of Service Marketing 4th Edition. With services, a clear distinction cannot be made between marketing and operations management.


7. Physical Environment: Because of the intangible nature of a service this subsequently means that potential customers are unable to judge that service before it is consumed. An important element of marketing planning is therefore to reduce this level of risk by offering tangible evidence of the nature of the service. - cited from Adrian Palmer Principles of Service Marketing 4th Edition.

shibli:
8. Privacy: In accordance with the rules and regulations of data protection acts it is important especially in the online digital age. Privacy from unwanted spam, junk and telecommunications provides customers with a sense of anonymity and allows for more selective forms of marketing.


9. Personal Interest: As services are becoming more interactive, advertising and promotion are becoming more personalized with the incorporation of personal tastes. Personal interests are becoming an increasing important decision making process for customers. Personal interests can make the different between customer choosing a particular brand or product.

10. Personal (e.g. social) Networks: For instance Facebook, Myspace forum sites and social media. These sites generate a new form of marketing know as social media marketing.


11. Public Commentary: Important in the age of online trading and entrepreneurship. For instance online auction sites like E-Bay, Amazon have more credibility when providing market information that place a 2 directional form of communication (social exchange process)

shibli:
12. Personalization: With emerging social media and increasing development of Web 2.0 applications Through the combination of emerging technologies and the increasing form interaction between customers via the internet, there is a greater degree of customization of products and services.


13. Participation: This allows customers to participate in what a brand should stand for. What the direction of product should be and the style of advertisements, creating a free flow of information between customers and companies.


14. Peer to Peer: Now referred as social computing is becoming an increasing disruptive form of the traditional balance in marketing, as customers bases are being replaced by active customer communities. Rather than the companies imposing brand awareness and advertising it is increasingly engaging towards the customers as active instruments in the selling process.


15. Predictive Modeling: This refers to the neural network algorithms used in applied marketing problems. In essence to try to predict the best probability of an outcome on the basis of detection theory. Extensively developed in analytical customer relationship management helps plan out the expectations that a customer will take a particular action.

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