The 7 p's

Throughout our day to day living we come across the 7 P's more times than we may think. Marketing is all around us and getting a good understanding of what they are and why they are around us is an important tool as a marketing student.  First of all lets start by stating what the 7 p's are (product, price, promotion, place, people, physical evidence, process) there's also some history behind the 7 p's, a specialist named Neil borden introduced the 4 p's in 1950 where the term 'marketing mix' was used. After in 1981 as marketing was starting to expand and become more popular two men named Bernard H. Booms and Mary J. Bitner added 3 more p's  where the 7 p's was born. (1)  Know your 7 p's  Product  This is what the company produces (from a product or service or a combination of both) also developed to meet the core need of the customer.  Price This is the only revenue-generating element of the mix – all other marketing activities represent a cost.