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Service Marketing
- 1. A Presentation on SERVICE MARKETING Prepared by… Ankit C. Makvana Management Student @ NGI Guided by… Prof. Monali Jani College : Noble Group of Institutions, Junagadh.
- 2. Outlines of Presentation • Introduction to Service • Product VS Service • Indian Service Sector • Various Service Sectors in India • Growth • Reasons for Growth • Global Service Sector • Future Forecasting • Conclusion
- 4. Introduction to Service • Service include all the economic activities whose output is not physical product • Also called Tertiary sector • Service marketing need relationship development • Areas – Primary sector • (e.g. Farming, Mining, Fishing) – Secondary sector • (e.g. banks, hotels, real estate, education, health)
- 6. Product VS Service Points Product Service Who comes to whom ? Product to buyer Buyer to service Standardization or Customization Standardization Customization Tangibility Tangible Intangible Ownership Transferred Cannot transferred Role of senior manager Managers are heroes Front line people are heroes
- 7. Product VS Service Points Product Service Place Can be anywhere Should be at convenient place Involvement less High After sales service Short duration Long duration till service end Heterogeneity Same product for all Can be different for 1 service
- 9. • Always served the country’s economy well • Stood at 12th position worldwide • Stood at the 2nd position in providing employment • Approximately 23% of total workforce employed • Accounting for about 57 per cent of the gross domestic product (GDP) • Financial services sector has been an important contributor Indian Service Sector
- 10. Sector Wise Contribution to GDP 18% 25%57% contribution (2012) Agriculture Industry Service 13.90% 27.30% 58.80% contribution (2014) Agriculture Industry Service
- 11. Various Service Sectors in India
- 12. Various Service Sectors • Insurance
- 13. • Education Various Service Sectors
- 14. • Health Various Service Sectors
- 15. • Banking and Non Banking institutions Various Service Sectors
- 16. • Hotels Various Service Sectors
- 17. • Communication Various Service Sectors
- 18. • Transportation Various Service Sectors
- 19. Growth
- 20. 5.40% 9% 10.90% 0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% Russia India China growth rate Growth Rate of Service Sector 2012
- 21. Growth of Service Sector in India 15% 51.16% 53.80% 56.90% 58.80% 0% 10% 20% 30% 40% 50% 60% 70% 1950 1990-91 2005 2012 2014 Growth of Service Sector
- 22. Service Sectors wise contribution in India 18% 2% 13% 2% 8% 17% 7% 18% 15% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% various service sectors contribution in 2014
- 23. Why Growing ?
- 24. • Easily availability of skilled educated employee • Increase per capita income • Leisure time • Cultural change • Life expectancy • Life complexity Why Service Sector Growing in India?
- 25. • Reserve Bank of India (RBI) has eased norms for mortgage guarantee companies (MGC) • Pradhan Mantri Jan DhanYojana in August 2014 (the objective to cover 75,000,000 households with at least one account) • RBI has simplified the rules for credit to exporters • Indian Railway initiated proposal, for changes in FDI policy in order to allow foreign players Government Initiatives
- 27. Global Service Sector • More based on service sector as it is generating revenue from service and manufacturing sector • In 1948 contribution to GDP was 54% which currently estimated around 80% • In 1950 contribution to employment was 55% which currently estimated around 83% 79% 14% 4% 2% 1% sector wise contribution Service Manufacturing Construction Mining Agriculture
- 29. • Banking assets in India reached US$ 1.8 trillion in 2013 and is expected to touch US$ 28.5 trillion by 2025 • Information technology (IT) services, the largest spending segment of India's insurance industry at Rs 4,000 crore (US$ 653.71 million) in 2014, is projected to continue strong growth at 16 per cent • The total market size of the insurance sector in India was US$ 66.4 billion in 2013 and is expected to breach the US$ 350–400 billion by 2020 Future Forecasting
- 30. Concluding Lines
- 31. Thank You