The name 7 Pennies stands for, among others, the 7 P’s of the extended marketing mix:
- Product: which products or services are you thinking of introducing next?
- Price: are your products or services priced optimally?
- Place: which sales or distribution channels fit your products or services best?
- Promotion: are your products or services marketed or promoted correctly?
- People: what is the brand awareness of your company with customers and the public?
- Process: is everything put in place to best deliver the product or service to your customers?
- Physical evidence: can customers try your product first (like a test drive) before buying it?