7-Eleven Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of 7-Eleven through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
7-Eleven Product Strategy:
7-Eleven is a convenience store located worldwide. The 7-Eleven store is known for offering one stop location for fulfilling its customer’s need. The product line in the marketing mix of the company can be divided into food and drinks for breakfast, lunch, evening snack, dinner and late night snack. The company offers:-
• Sandwiches: Some of the famous offering in this segment are classic cheese burger, cubano melt, double bacon cheddar melt, chicken bacon ranch melt sandwich and many more. There are different sandwich types that the store offers.
• Salads, pizzas, Taquitos are also offered by the brand
• Snacks and sides: Some of the famous offering in this segment are chicken tenders, 7-Select Potato Chips, 7-Select GO!Yum Kettle Popcorn and many more.
• Bakery: Some of the famous offering in this segment are Fresh Brownies, 7-Select Cinnamon Roll, 7-Select Iced Danishes etc.
• Ice cream: Some of the famous offering in this segment are 7-Select Strawberry Crunch Bar, 7-Select Cookie Ice Cream Sandwich etc
• Gas: 7-Eleven was the first store to sell gas for cars etc.
• Wireless accessories and personal care products like Connect by 7-Eleven Powerbank, 7-Select Comb & Pik Set etc.
Image: Wikimedia
This concludes the product strategy in 7-Eleven marketing mix & strategy.
7-Eleven Price/Pricing Strategy:
Below is the pricing strategy in 7-Eleven marketing mix strategy:
7-Eleven stores keep the price of items as competitive with respect to other stores. The generic items includes brand sold on every convenient store like coffee, chips, bread, eggs etc.
But for its privately labelled products like Slurpees, Big Gulp etc the pricing is a bit higher. The reason for increased pricing for its private labelled products is simply because these product are liked by its customers and are exclusively available at 7-Eleven stores only. Moreover as the store offers one-stop shopping solution for all the needs of customers and the time length (7 am to 11 pm and some stores are opened for 24 hours also) at which the store operates, the customer are happy paying some premium pricing for the offering made by 7-eleven stores. This gives an insight in the marketing mix pricing strategy of 7-Eleven stores.
Read more about 7-Eleven
7-Eleven Place & Distribution Strategy:
Following is the distribution strategy in the 7-Eleven marketing mix:
7-Eleven stores was started in Dallas,Texas in the year 1927 but by the end of 1950s the stores were spread to Florida, Maryland, Virginia and Pennsylvania. In the year 1969 the company crossed international border and launched stores in Canada and currently the company has about 70,000+ stores spread across 17 countries. The company also provides its franchise to potential owners which can be applied directly from 7-Eleven website. In order to better serve its customers, the 7-Eleven company has come up with 7-Eleven mobile app which caters to the needs to internet friendly generation of customers. Through the app the 7-Eleven stores are able to better serve customers by delivering food, paying bills online, give reward points to customers etc.
7-Eleven was the first store to sell coffee to go to better serve customers.
7-Eleven Promotion & Advertising Strategy:
The promotional and advertising strategy in the 7-Eleven marketing mix is as follows:
7-eleven stores follow an Omni-channel approach for its promotional strategy from digital promotion to events to physical store sites promotion. The 7-Eleven company is engaged in enhancing its sales through ‘shoulder’ campaign for its Slurpee product that cited the benefits of the produc t beyond just refreshment. The company has also started celebrating 7-Eleven day as a promotion strategy to get more customers to its stores. On this day the 7-Eleven stores offers free Slurpee from any of its stores. Also the company started offering small Slurpee on fuel purchase to get new customers. The company also offers gift cards, 7-Eleven Universal Fleet Card, Prepaid Cards to give special offers to its customers. 7-Eleven has also been engaged in many events like Shelter Makeover Project, Unisel Voice for Refugee, Slurpee Tasting Test etc to attract the audience and build brand awareness. The company had a new advertising campaign launched in 2021, highlighting the evolution of the brand over the years.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of 7-eleven.
People:
7-Eleven company employees more than 45000 employees and hires college graduates and military veterans among its staff. 7-Eleven company also offer lots of perks and benefits to its employees to sharpen their skills and grow their career within the company with a feeling of satisfaction and safety for not only employees but also their families. 7-Eleven offers health program and dental care program to both its full time and part time employees. The company also awards its employees who have completed their one year in company by profit sharing. 7-Eleven also runs an Employee assistance program to help employees tackle financial or legal problems. 7-Eleven is not only concerned with people within their company but also their customers and people around. 7-Eleven company runs a project A-Game to help in development of youth by imparting education. 7-Eleven also runs a project called operation chill to reduce crime and improve relationship between police and youth.
Process:
7-Eleven is one of the largest convenience store which has retail chain of size 60000+ worldwide. A customer can enter the store and buy food, drinks and lot more. Most of the 7-Eleven stores operate 24 hours a day, 7 days a week. So the store offers food varieties for breakfast till midnight. There are various ways to check out from the store. A person can pay through cash or credit/debit card at any 7-Eleven store.7-Eleven also offers a bill payment application. 7 Eleven also offers gift card, prepaid card, 7-Eleven Universal Fleet Card as one of the payment option. The customer can also use 7-Eleven mobile application to order products and pay bills. 7-Eleven has also tied up with logistic companies like DoorDash and Postmates which uses technology to cater to on-demand delivery shopping solution to its customers to serve them better. Even during the Covid pandemic, the stores were open as essential retailers, benefiting all the people.
Physical Evidence:
7-Eleven runs a chain of convenience store globally across 18 countries. As a matter of fact, every two hours a 7-Eleven store is born around the globe. The size of retail chain is now more than sixty thousand. 7-Eleven offers lots of product like food and drinks for breakfast, lunch, evening snack, dinner and late night snack. The company offers generic items like brand sold on every convenient store like coffee, chips, bread, eggs etc and also privately labelled products like Slurpees, Big Gulp etc. Some of the 7-Eleven stores also have arrangement to sit and eat snacks there. 7-Eleven company has come up with 7-Eleven mobile app which caters to the needs to internet friendly generation of customers. Through the app the customers can order food, pay bills online, redeem reward points etc. These store and online application act as a physical evidence for the company. This covers the marketing mix of 7-eleven stores.
About 7-Eleven:
7-Eleven is the world’s first convenience store founded in the year 1927 by J C Thompson. Earlier the store name was Tote’m store but it was later changed to 7 Eleven in the year 1946. The idea behind the name ‘7-Eleven’ is that the store is opened 7 days a week from 7am to 11 pm. The store began its first operation in Dallas, Texas with the aim to sell everyday staples to customers and now the store offers varieties of products like hot food, coffee, salad, energy drinks and lots more.
The company has more than 60000 stores worldwide and operates in 18 countries including Australia, Singapore, Malaysia and many more. The company 7-Eleven also offers franchise to potential owners and is therefore the main reason for its growth around the globe.
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