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Formulating Marketing Mixes (8Ps) for Engineering Consultancy Services

Excerpt

Once the market has been segmented, target market(s) identified and products positioned, marketing strategy can then address the components of marketing mixes. However, making vainglorious announcement is easy but planning to achieve and really achieving them is difficult. For services industry, it was observed that the traditional marketing mix as coined by Professor Neil Borden (twelve elements) and summed up by McCarthy into the 4Ps namely product, price, place and promotion was inadequate because of three main reasons. The first reason was that the original marketing mix was developed for the manufacturing industries which implied that the services offered by the service companies ought to be changed in a more product like manner so that the existing marketing tools can be applied. This was practically difficult. The second reason was that the marketing practitioners in the service sector found that the marketing mix does not address their needs. They observed that the service has certain basic characteristics which in turn have marketing implications. The third reason was that since services are basically different in comparison to physical products, the marketing concepts have, therefore to be developed in the direction of the service sector. The above three observations suggest that a revised framework for service marketing mix is required and the dimensions of each of the mix elements need to be redefined. Booms and Bitner [46] have suggested an expanded marketing mix model arising out of the above three observations. Magrath [47] endorsed such an approach and categorically pointed out that when marketing services, the 4Ps are not enough. He said that the other three (3) Ps, strategic elements namely, personnel, physical facilities and process management that capture management’s attention, must be included in the marketing mix.

14.1Products/ Services (P1)
14.2Price/ Fees (P2)
14.3Promotion (P3)
14.4Placement (P4)
14.5People (P5)
14.6Physical Evidence (P6)
14.7Process (P7)
14.8Pace (P8)
14.9The Need for Integration of the 8Ps

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