“No one element of the marketing mix is more important than another, each element ideally supports the others.”
This affirmation is what we were told the first day of introduction to this subject, but is it true? Is there truly no “P” more significant than others?
The Marketing Mix is composed of 4 elements and then we sum up 3 more: Product, Price, Place, Promotion, Process, People and Physical Evidence. "Product" comes at the product itself offered in exchange for something, usually money. "Price" is the demanded-pricing, it affects directly how much revenue is generated. We understand "place" as the location where the exchange takes place. The next P is "promotion": the communications the company has with its customers and markets. Then we have the three left P’s: "process", concerned with the overall delivery of a service, "people", any employee who makes contact with a customer, and "physical evidence", which makes reference to the facilities and the ambience.
We all know the phrase “don’t judge a book by its cover”, but us humans do this all the time, and I think it works the same way in the business environment.
I am pretty sure none of us would go inside a restaurant if it doesn’t look good from the outside, place and physical evidence would be the leading role in this situation, you would not care if the product is very good because you would not even taste it.
I also think people is another important aspect: if the waiter is rude and not polite you will have a first bad impression of the restaurant.
To sum up, I think there are Ps which are more consequential than others because they can make you continue with the procedure and be able to access the other Ps rather than cut the procedure.