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Content
Introduction
Product
Price
Place
Promotion
People
Process
Physical evidence
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Introduction
7 P’s is known as an extended marketing mix.
This is generally using in the service industry.
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Product
The product in service marketing mix is intangible in
nature.
Service products cannot be measured and also it
won’t be owned to any one.
Online banking
Prepaid cards
Current & fixed accounts
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Price
Pricing in case of services is rather more difficult
than in case of products.
Pricing is important to gain profit for the business.
Free of charge to open accounts
Interest rates
Competitive based strategy
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Place
Place in case of services determine where is the
service product going to be located.
HSBC having both physical & electronic channels.
Banks and ATM machines are physical channels .
Online banking is an electronic channel.
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Promotion
Promotion is an important part in 7 P’s.
It’ll create the brand name of the business in the
consumers mind.
People used to buy the products by this.
T.V advertisements
Online advertisements
Bill boards
Hand bills
Sales promotions
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People
People are one of the elements of service marketing
mix. People define a service.
Employees are the first once who make contact with
the customers.
In service marketing, people can make or break an
organization.
employees behavioral patterns towards the customers.
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Process
Service process is the way in which a service is
delivered to the end customer.
Their procedures are tested before the launch of the new
current account package.
Bank personnel are to conduct a test to determine how
efficient and effective front line staffs.
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Physical Evidence
It is generally recognized that physical evidence can
be subsidized into two components.
peripheral evidence which can be possessed by the
consumer but has little independent value.
essential evidence, which cannot be possessed by the
consumer but has independent value.
The peripheral evidence is the prepaid card
The essential evidence includes bank branches, cash
machines, posters and brochures.
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Refferences
http://www.marketing91.com/service-marketing-
mix/
http://cloudchronicler.net/2009/10/28/marketing-
assignment-a-marketing-plan-for-hsbc-7ps/
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