The Extended Marketing Mix - 7Ps of Marketing Simplified

The video explores the extended marketing mix, which includes seven elements: product, place, price, promotion, people, process, and physical environment. Initially, the marketing mix consisted of four P's, but it was expanded to include three more. Each element plays a crucial role in making a product or service appealing to consumers. The video uses Starbucks as an example to illustrate how these elements are applied in a real-world context, highlighting the company's product offerings, distribution, pricing strategy, promotional efforts, customer service, operational processes, and store design.

What is the primary goal of the marketing mix?

• To limit the distribution of products

• To increase production costs

• To make a product or service appealing to consumers

• To reduce the number of employees

Which of the following is NOT one of the original four P's of the marketing mix?

• Price

• Product

• Place

• People

In the extended marketing mix, what does the 'People' element refer to?

• The employees who interact with customers

• The competitors in the market

• The shareholders of the company

• The target market for the product

How does Starbucks apply the 'Place' element in its marketing strategy?

• By changing its logo frequently

• By reducing the number of employees

• By offering discounts on products

• By operating in over 70 countries with numerous stores

What is a key feature of Starbucks' 'Physical Environment' strategy?

• Changing the menu daily

• Offering free products to customers

• Ensuring store designs align with local culture

• Reducing the number of store locations