7p's

In: Business and Management

Submitted By phillyguy214
Words 571
Pages 3
Article Summary The article that I read about marketing was The 7 Ps of Customer Retention Marketing. I found this article on a marketing website with tons of articles for people to read and for help on their products and companies. The author is Karl Wirth who is the CEO and a co-founder of Apptegic, a customer intelligence and marketing automation solution that enables online businesses to understand each customer and respond in real time. Karl Wirth’s message was basically explaining of how the 7 P’s of marketing apply to customer retention marketing. Karl Wirth’s stated, By acting on the 7 Ps of Customer Retention Marketing, you can keep your customers; make their interactions with your business successful; and in so doing make your business more successful. The evidence I found to support this theme was that they stated all 7 points of marketing in it. Everyone is use to the 4 P’s and what they do and how we use them, but they used three more that I have not heard of being used. Many CPG companies are now using online and social mediums to build direct relationships with their customers This article is very smart and logical and provides great information. It provides the four P’s: Product, Place, Price, Promotion. Yet it provides 3 more P’s to the reader, People, Processes and Positioning. I have never heard of those three. It states that People are the most important. Retaining customers is about building relationships, and relationships are about people. For Processes, treat your customer as a person, and not a customer. You need good processes, such as monitoring social media and engaging customers there, surveying customers for satisfaction, and implementing marketing automation. Positioning says if you want to retain your customers, you have to know who you are and communicate that clearly and repeatedly to them so they know who you are as well, your…...

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