There are different pricing policies that a company can implement:

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The third P is the Place , the English translation of which is Distribution. This represents the set of channels used by the company to sell its product/service to the end customer. It can be represented by various intermediate steps, until it reaches the consumer, usually through the physical store or online. Distribution takes place through the management of distribution channels and warehouses, logistics and market coverage. Promotion The last P of the Marketing Mix model is Promotion, characterized by the set of channels used by the company to communicate to the customer the characteristics of its product/service and its availability on the market. The promotional aspect is of great importance for a brand today and consists of a series of activities, represented by: sales promotions; advertising; propaganda; sponsorship; direct marketing and database marketing; PR; merchandising; From the 4 P model to the 7 P model If this model thus defined was fine until a few years ago, today the changes that have occurred in the socio-economic context , with the advent of the Internet and new technologies, have made the Marketing Mix model obsolete.


This needed to be reviewed and implemented. Philip Kotler, one of the theorists behind the development of the 4P model, has thus expanded this scheme by bringing the Ps to seven. In addition to the 4 already mentioned, in fact, the American professor inserted another 3 Ps: People; Process; Physical Evidence; If the concept of People is quite intuitive , and obviously Denmark Telegram Number Data concerns the company's target market, which no longer wants to be a mere number but to be valued as a person on whom company survival depends, the concept of Process is more complicated . The latter concerns how the customer manages to obtain and use a given product/service. The objective must be to minimize costs while safeguarding customer satisfaction. Finally, we can also mention Physical Evidence in Kotler's new model , i.e. the evidence of the test, aimed at providing proof of the quality of the product/service offered.



In this case, reviews on the Internet are the key element, capable of ensuring that the customer can trust the company and purchase the product. Who is Philip Kotler? Philip Kotler was born in Chicago on May 27, 1931 and is SC Johnson & Son Distinguished Professor of International Marketing at the Kellogg School of Management of Northwestern University in Evanston, Illinois. Kotler, through his consultancy firm, Kotler Marketing Group (KMG), has collaborated with many companies, among which the most important ones to mention are IBM, General Electric, AT&T, Honeywell, Bank of America, Merck, Motorola and so on .