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The Essentials of Retail Marketing: Exploring the 7Ps of Retail Mix May 06, 2024 (0 comments)


Lehi, UT--The retail mix involves various components retailers utilize to create effective marketing and sales strategies. Known as the Ps of marketing, this framework helps businesses establish a competitive market position.

[Image via Bussarin Rinchumrus/]

The specific elements of the retail mix vary by business type and product range. An article on Podium highlights the 7Ps that make up this essential component.

Unpacking the 7Ps of Retail Marketing

Introduced by E. Jerome McCarthy in 1960 and later expanded by Booms and Bitner in 1981, the marketing mix originally featured four elements—Product, Price, Place, and Promotion—and was later enhanced to include People, Processes, and Physical Evidence.

The Strategic Importance of the Retail Mix

A strategic retail mix aligns marketing strategies with business objectives and customer expectations, improving customer satisfaction and differentiating retailers from competitors. It also aids in performance optimization through key performance indicators (KPIs).

Effective implementation of these components ensures long-term business success and a strong market presence.

Learn more in the entire article published on Podium.

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