The Marketing mix is based on 4 Ps – product, price, promotion, and place but are also joined with 3 other Ps- people, process, and the physical environment. In addition, the 7 Ps can be used when the business wants to expand their goals on how they want to market their item. Firstly, comes product. Product's goal is to ‘make the product both appealing and distinctive to both its customers and its competitors' (Marcouse, Hammon, Watson, 2016; 128) which can consist of design, technology, quality or packaging. Secondly comes the price, the price is ‘making the business set the right price' (Marcouse, Hammon, Watson, 2016; 128) for instance it may include the skimming, the cost plus, the value base. Thirdly comes promotion, promotion is the way the business ‘creates a right image for the product and presents it to the right target' (Marcouse, Hammon, Watson, 2016; 129) and that includes special offers and the way the business advertises their product. The forth marketing mix is place, place ‘is how the business gets to the product to the place where customers can be persuaded to by' (Marcouse, Hammon, Watson, 2016; 129) which may include the retails, mail order, and the internet. People is considered to be the fifth marketing mix which may include the employees, management or the organizational culture. Then comes process, the process is considered to be the customer's experience or the service delivery (Marcouse, Hammon, Watson, 2016; 128). Finally comes the physical environment, which included the facilities, the service delivery or interface. A great example would be the luxury brand Gucci since it's the topmost luxury fashion brand and is known all around the world. According to Forbes Gucci ‘makes about $4.7 in sales and is worth 12.7 billion dollars'. Also, its considered to be ranked 47 in world most valuable brand (ibid). This essay will consist of how Gucci has used the 7Ps in their everyday job.
The four major Ps are Product, Price, Promotion, and Place. The first variable to consider is the product, Gucci has a range of shoes, handbags, jewelry, and watches which are different for every client. Every product' has a series innovation with the change of generation'(Haseeb, 2016). Gucci attracts their customers since they cooperate with other famous celebrities to attract young women to buy their product (marketing). Gucci only ‘pays attention to its design in its development of 100 years'(ibid). As a luxury company, Gucci provides unique selling points and ‘only pays attention to fashion rather than the quality of leather'(ibid). The quality of the product is the reason for their high prices in the market. The portfolio of Gucci is both for men and women wear fashion, more for classy and fashionable clients. Gucci product line has a variety of fashion from boots to face makeup. For pricing, Gucci offers a policy of ‘Premium price product'(ibid), which is considered to be the reason for their high price. They offer prices depending on the quality of fabric and work. Since Gucci are made in Italy that is why they are considered to be prestigious. They may ‘provide discounts from time to time to enhance sale and keep their loyal customers happy'(NP). Gucci also includes tax chargers which they mainly target the middle class. Then comes promotion, Gucci, for instance, is visible through advertisement, banners, social and print media and lookbooks or magazines. They have various media platforms from Facebook, Instagram, Twitter, and YouTube. Gucci also ‘hired bloggers to promote their content' (NP), also has app's in eight different languages for buying their products online. Another method they use are celebrities, fashion shows, and Vogue magazines as a way to advertise their market, also known as a (controversial strategy) (Bhasin,2016). Finally comes place, place is a major factor for Gucci since it operates on many continents around the world. They also have their supply chains in different countries based on the cities income. Gucci has more than ‘500 directly operated stores and online stores which work in 28 markets'(Haseeb,2016). As for stores, Gucci has a limited number of franchises, that are located in expensive streets around the world ‘(keeping their mind on their customers)'(NP). They also have unique stores that are designed classily and have classic interiors. Therefore, Gucci has a successful marketing mix that matches the 4Ps and has a good sense to attract the target.
The newer 3Ps are People, Process, and Physical Environment. For people, Gucci provides standard uniforms for their employees and specially focused on promoting service to their shoppers. All new employees are professionally trained for customer management in keeping the customers happy and pleased. Gucci has three main targets ‘celebrities, the wealthy and the upper class'(NP). They also provide a rule for caring for their employees and each worker develops professional skills and recognizes their values'(Gucci, 2017). Gucci's website states that Gucci ‘respects Human Rights, respect worker's right and equal opportunities, values diversity and respects stakeholders' (Gucci, 2017).Then comes process, Gucci uses an online app for customs to order what they need using pay pal as a method of payment. The service is efficient since Gucci's has a 3 to 5-day delivery service. Finally comes physical environment, Gucci's website provides colorful pictures with product for each gender. Gucci provided spatial layout of luxury furniture in every store. With corporate branding, Gucci has a gold (G) sign in every store. As a luxury store, Gucci has many fashion shows all around the world and has special brochures and business card.
In conclusion, in order to have a successful business, it's important to include the Marketing mix and it should be matched to the marketing strategy of the 7ps. To conclude marketing mix are the parameters for the marketing business tries to get to the need of the customer needs. Having the 4ps may help your business succeed with focusing more on product but in order to have a successful one the business needs the 7ps which only focuses on the modern online- service world. Gucci has been around for the past 96 years and has been ongoing ever since with its luxury products. Gucci used the 7Ps to keep their business succeeding and gaining more clients and customers each day. Gucci has many ways and methods to draw their clients using the 7Ps.
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