2019: Marketing of services

1. Marketing of services
Bhavnee Mangal
B.Com 2nd year
Management Honours
218009
Marketing Management

2. Points at glance
 Definition
 Features
 Significance
 Problem Faced in Marketing of Services
 Service Marketing Strategy
 Some best service marketing providers
 Application of service marketing
 7 Ps of service marketing
 How to reach the consumer
 Conclusion

3. Service marketing is marketing based on relationship and
value. It may be used to market a service or a
product.Activities, benefits and satisfactions, which are
offered for sale or are provided
in connection with the sale of goods.
DEFINITION

4. Features
 Intangibility
for example, banks promote the sale of credit cards by
emphasizing the conveniences and advantages derived from
possessing a credit card.
 Inseparability
for example, during an online search or a legal consultation.
Dentist, musicians, dancers, etc. create and offer services at the
same time.

5.  Perishability
for example, spare seats in an aeroplane cannot be transferred to
the next flight.
 Changing demand
for example, Demand for tourism is seasonal.
 Pricing of services
for example, room rents in tourist spots fluctuate as per demand
and season and many of the service providers give off-season
discounts.

6. Building Trust
Promoting Customer Satisfaction
Generation of employment Opportunities
Optimum Utilisation of Resources
Increasing the Standard of Living
Significance

8. Problems faced in marketing services
 A service cannot be demonstrated.
 Sale, production and consumption of services takes place
simultaneously.
 A service cannot be stored. It cannot be produced in
anticipation of demand.
 Services cannot be protected through patents.

9.  Services cannot be separated from the service provider.
 Services are not standardized and are inconsistent.
 Service providers appointing franchisees may face problems of
quality of services.
 The customer perception of service quality is more directly linked
to the morale, motivation and skill of the frontline staff of any
service organization.

10. Service marketing strategies
 Market Research
Research helps you to understand your customers better. Market research gives you
an insight about how your business processes are performing. You will know on what
counts your company is performing and what marketing strategy in service sectors
you need to spruce up.
 Niche strategy
One of the most important business considerations for service marketing is niche
targeting and specialization. Specialization can make the all the difference to your
marketing efforts. It defines what you do exactly and distinguishes you among
competition. Specialization is a differentiator which proves itself.

11.  Social media
The social media acts as an accelerator to reach your expertise, reputation
and content to your target customers. It helps you to connect to valuable
influencers and contacts, along with monitoring your brand via social listing.
 Advertising
Advertising doesn’t merely promote your service marketing. It also plays a
major role to drive content downloads, thereby increasing both visibility and
expertise. The various forms of advertising that best matches your
professional service.

12.  Analytics and reporting
It’s always important to analyze the proper metrics to measure results
effectively. But you must have the tools in place for collecting the accurate
data. This includes social media, your website and SEO. Regular analyzing
and testing will help you understand what’s working and what’s not.

13. Companies with insanely great marketing
 Apple
 Nike

14.  Adobe
 Samsung

15. APPLICATION OF SERVICE MARKETING
 Hospitability
 Travel and tourism
 Banking and insurance
 Entertainment marketing
 Education
 Health care

16. 7 P’s of Services Marketing
 The 7 Ps are best described as the specific components required to reach selected markets.

17. Reaching the Consumer
 Mass Media
 Print Media
 Online Channels
 Social Media and Reputation Management
 Social Media
 Advertising and Trust

19. Conclusion
Successful organizations use market research to
learn the preferences and behaviours of key
customer segments. Through a strategic planning
process, organizations and destinations develop a
marketing orientation designed to identify customer
needs and trigger their wants, while striving to
meet organizational objectives.

20. THANK YOU