Analysis of Marketing Mix 7p

Oct 13, 2025 by vinooalluri.com 144 views

Introduction

In the rapidly evolving banking landscape, PT. North Sumatra Bank has been striving to implement an effective marketing strategy for its smart savings products. This study aims to explore the marketing strategy employed by the head office of PT. North Sumatra Bank for its savings product, with a focus on the 7P marketing mix. By using quantitative methods, this research collects data through two techniques, namely interviews and documentation. The analysis reveals that the marketing strategy applied involves the use of the 7P marketing mix, which includes products, prices, places, promotions, people, physical evidence, and processes.

Analysis of Marketing Mix 7p

Product

Smart Savings from PT. Bank of North Sumatra offers various benefits such as competitive interest, ease of access, and innovative features that attract customer interest. The quality and uniqueness of this product is an important factor in attracting the attention of prospective customers. The product is designed to meet the needs of customers, providing them with a convenient and secure way to save their money. With its innovative features, the product is able to differentiate itself from other savings products in the market.

Price

Competitive pricing is the key to attracting more customers. North Sumatra Bank pays attention to market conditions and competes in a healthy manner with other banks to provide the best value for its customers. The bank's pricing strategy is designed to be competitive, while also ensuring that the bank is able to maintain its profitability. By offering competitive interest rates and fees, the bank is able to attract and retain customers.

Place

Distribution of Smart Savings products is carried out through various distribution channels, both physically in branch offices and digitally through mobile banking applications. This makes it easier for customers to access services quickly and efficiently. The bank's distribution channels are designed to be convenient and accessible, allowing customers to access their accounts and conduct transactions at any time.

Promotion

Promotion strategies carried out include advertising, social media, and community-based marketing campaigns. With a variety of approaches, PT. North Sumatra Bank managed to reach more prospective customers. The bank's promotion strategy is designed to be multi-channel, allowing it to reach customers through a variety of channels. By using social media and community-based marketing campaigns, the bank is able to engage with customers and build brand awareness.

People

Human resources that are competent and oriented to customer service are valuable assets for the North Sumatra Bank. Employee training and development is a priority to improve services. The bank's employees are trained to provide excellent customer service, ensuring that customers receive the best possible experience. By investing in employee training and development, the bank is able to build a team of skilled and knowledgeable employees who are able to provide high-quality service to customers.

Physical Evidence

Office physical environment and digital appearance applications create a positive impression of the product. Interesting design and good functionality provides a pleasant experience for customers. The bank's physical environment and digital appearance are designed to be welcoming and user-friendly, creating a positive impression of the product. By investing in the design and functionality of its physical environment and digital applications, the bank is able to create a positive experience for customers.

Process

The process of opening accounts and transactions must be fast and efficient. North Sumatra Bank continues to strive to simplify procedures and increase customer comfort in every interaction. The bank's processes are designed to be efficient and convenient, allowing customers to quickly and easily open accounts and conduct transactions. By simplifying procedures and increasing customer comfort, the bank is able to build customer loyalty and retention.

Challenges and Recommendations

Although the marketing strategy of Smart Savings products from 2018 to 2022 has been proven effective, PT. North Sumatra Bank is still faced with various challenges. Some obstacles found cannot be completely eliminated, but can be minimized through various strategic steps. For example, identifying customer complaints and providing fast responses and the right solution.

Going forward, PT. North Sumatra Bank needs to continue to improve products and services in order to build customer loyalty and create comfort in transactions. Innovations in products and services as well as more personal marketing approaches can be an effective step in attracting and maintaining customers. By implementing a solid marketing strategy and adapting to market needs, PT. North Sumatra Bank will be able to maintain its position as one of the trusted banks in Indonesia. Increasing customer satisfaction and providing services that exceed expectations will be the key to success in dealing with increasingly fierce competition in the banking industry.

Conclusion

Introduction

In our previous article, we explored the marketing strategy employed by PT. North Sumatra Bank for its smart savings products. The bank's use of the 7P marketing mix has been instrumental in creating a positive experience for customers, from the product itself to the physical environment and digital applications. However, we also identified various challenges that the bank still faces in order to maintain its position as one of the trusted banks in Indonesia. In this article, we will answer some of the most frequently asked questions about the marketing strategy of PT. North Sumatra Bank's smart savings products.

Q: What is the 7P marketing mix, and how does it apply to PT. North Sumatra Bank's smart savings products?

A: The 7P marketing mix is a framework that consists of seven elements: product, price, place, promotion, people, physical evidence, and process. PT. North Sumatra Bank's smart savings products apply the 7P marketing mix in the following ways:

Product: The bank offers a variety of benefits such as competitive interest, ease of access, and innovative features that attract customer interest.
Price: The bank competes in a healthy manner with other banks to provide the best value for its customers.
Place: The bank distributes its smart savings products through various distribution channels, both physically in branch offices and digitally through mobile banking applications.
Promotion: The bank uses advertising, social media, and community-based marketing campaigns to reach more prospective customers.
People: The bank's employees are trained to provide excellent customer service, ensuring that customers receive the best possible experience.
Physical Evidence: The bank's physical environment and digital appearance applications create a positive impression of the product.
Process: The bank's processes are designed to be efficient and convenient, allowing customers to quickly and easily open accounts and conduct transactions.

Q: What are some of the challenges that PT. North Sumatra Bank faces in implementing its marketing strategy?

A: Some of the challenges that PT. North Sumatra Bank faces in implementing its marketing strategy include:

Identifying customer complaints and providing fast responses and the right solution.
Continuously improving products and services to build customer loyalty and create comfort in transactions.
Innovating in products and services to stay ahead of the competition.
Adapting to market needs and trends.

Q: How can PT. North Sumatra Bank improve its marketing strategy to better meet the needs of its customers?

A: PT. North Sumatra Bank can improve its marketing strategy by:

Continuously gathering feedback from customers to identify areas for improvement.
Investing in employee training and development to ensure that employees are equipped to provide excellent customer service.
Innovating in products and services to stay ahead of the competition.
Adapting to market needs and trends.
Using data and analytics to inform marketing decisions and measure the effectiveness of marketing campaigns.

Q: What role does customer service play in PT. North Sumatra Bank's marketing strategy?

A: Customer service plays a critical role in PT. North Sumatra Bank's marketing strategy. The bank's employees are trained to provide excellent customer service, ensuring that customers receive the best possible experience. By providing excellent customer service, the bank is able to build customer loyalty and retention, which is essential for long-term success.

Q: How can PT. North Sumatra Bank measure the effectiveness of its marketing strategy?

A: PT. North Sumatra Bank can measure the effectiveness of its marketing strategy by:

Tracking key performance indicators (KPIs) such as customer acquisition and retention rates.
Monitoring customer feedback and satisfaction levels.
Analyzing data and analytics to inform marketing decisions and measure the effectiveness of marketing campaigns.
Conducting regular market research to stay ahead of the competition.

Conclusion

In conclusion, PT. North Sumatra Bank's marketing strategy for its smart savings products has been effective in attracting and retaining customers. However, the bank still faces various challenges that need to be addressed in order to maintain its position as one of the trusted banks in Indonesia. By continuously improving products and services, innovating in products and services, and implementing a solid marketing strategy, PT. North Sumatra Bank will be able to build customer loyalty and create comfort in transactions, ultimately leading to success in the increasingly competitive banking industry.