Personal Finance

Are you using the Ps to accelerate selling?

A salesman talks to  potential buyers. file photo | nmg
A salesman talks to potential buyers. file photo | nmg 

You were lied to. The 7Ps of marketing, aren’t. They are also the 7Ps of finance, of administration, of human resources, of ICT, of operations, and even, of sales. They are the 7Ps of business.
As a reminder they are product, price, place (distribution), promotion (marketing), physical evidence, process (how the business operates) and people (staff).

Physical evidence is the brochure at the bank or your staff ID card. They are, respectively, proof that the bank does indeed have that savings account it claims to, and that you are a bona fide staff member of the company you work for. Looking at the seven Ps solely through the marketing lens is limiting.

This should be exciting news, particularly for the business to business seller. When appreciating his offering, it opens up a stimulating opportunity to go beyond the limited scope of product and price. What do I mean? The average seller tends to centre his entire sale on only product and price.

And this is because they are objective, visible, ‘hard’; they are also immediate and buyer- facing. In fact, many times, it’s usually on one-price. Product is usually a given, which is taken as sacred. In essence therefore, this seller limits himself to using only the butt of the gun when he has access to the formidable power of a machine gun.