The 3P Of Marketing: Meaning, Concept, and Importance 

3P of marketing

Entrepreneurs who aim for a successful business should also consider the other three variables of the marketing mix, i.e., people, process, and product. Commonly referred to as the 3p of marketing, these variables offer the highest return on investment and efforts because their nature is the bedrock of the business processes. 

However, managing them well such that they benefit your marketing is more essential than you think. Today’s blog will give you an overview of the 3P of marketing and how you can manage them better for a streamlined workflow. 

What is People Based Marketing? 

The people in the marketing mix are the individuals or groups who are directly and indirectly a part of the business processes. This means anyone with a role in designing, selling, and marketing a product and service, representing customers, recruiting, training, and managing a team are the people behind the marketing process. 

The people in a business play a vital role in its success and customer satisfaction; the company’s representative is professional, humble, intelligent, and thoroughly trained to do the specific work. 

Even if you are a solopreneur, the people are the inherent part of your firm or agency. They are the workforce you need to keep your business running smoothly. These include customers, vendors, suppliers, advisers, partners, and investors. 

Because without these individuals, your business runs out soon. They come first in the 3p o marketing comprising the people, process, and physical evidence. They benefit you by investing time, funds, and significant efforts into encouraging these relationships that grow. 

What is a Process in Marketing Mix? 

3P of marketing

process in marketing mix is a broader term that refers to the actions you take in your firm to accomplish a set target goal or specific functions. Being one of the vital 3P of marketing, a firm runs many processes regardless of its size. This includes: 

  • Designing a product
  • Creating a sales presentation
  • Providing and delivering the services 
  • Responding to queries and calls
  • Working on the emergencies 
  • Availing information to prospects and customers
  • Tracking the in-hand supplies. 

What is a Physical Evidence in Marketing? 

Considering physical evidence in marketing is crucial in a customer journey as an entrepreneur or a marketer. The third variable of 3P of marketing requires you to review everything your customer experiences while they proceed with their buyer journey with your business. From the point, they get to know about your brand to when they buy your product and beyond. 

In the 3P of marketing, physical evidence has more prominence than just serving as proof of purchase. While the purchase proof is also essential, the physical evidence variable also comprises your brand’s existence. The physical evidence in marketing example can be well understood by considering the website, social media, store’s décor, brand logo on an office building, product packaging, and so on. 

All these elements provide a piece of physical evidence to your customers that they need to ensure your firm is reliable and allowed. 

Because many untrustworthy firms and fake companies exist in the physical space, customers need physical evidence for various purposes. For example, remain loyal to the brand and comfortable with your firm. 

If you want your customers to remain with you, ensure that you timely deliver the products and provide the receipts alongside. 

How To Manage People, Process, and Physical Evidence? 

Having discussed the 3P of marketing, let’s quickly dive into managing them well for a streamlined workflow in your business. 

People

Organizing the first variable of the marketing 3Ps starts with recruiting the best talent on board. For leading firms, assembling the right team means prioritizing two key factors: 

  • Multiformity over homogeneity 
  • Quality over quantity

We all will agree that no unskilled employee can deliver quality work compared to one talented employee. Thus, organizations should emphasize hiring the right team with the desired skill set, knowledge, and experience. Don’t be subtle with the myth that if you recruit more and more team members, you will have the best output on the board. Hiring diversified employees gives you: 

  • Access to a vast client base 
  • Better employee performance 
  • Informed decisions 

Process 

A company with proper management proliferates compared to an unorganized workflow. However, sometimes this growth brings an array of problems, which you may find hard to tackle. In such a situation, plan for a change and form minor processes more amenable to change. 

However, that doesn’t mean you have to limit your firm’s growth but build strategies for development. When you maximize or minimize your process when you notice any potential issues, you get exposed to more opportunities to respond to market changes and eventually drive long-term profits. 

 Physical Evidence 

When you manage the tangible proof of purchase in your business, consider everything about your firm that can be observed and seen. It includes evaluating the ways you can help support your brand and improve your business. Managing the physical evidence establishes your brand’s credibility and authority among the target market. Besides, you can use the below tips to optimize your physical evidence- 

  • Make the service more tangible 
  • Make the service easy to grasp by using tangible objects and focusing on the buyer-seller relationship. 

Conclusion 

So, now that we have reviewed the 3P of marketing while learning their importance and management in business processes, it’s time to implement them per the suggestions. Remember that these three variables offer the highest return on investment; one should invest significant time, funds, and efforts into encouraging these essential marketing mix aspects. 

You May Also Like…

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *