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Service marketing

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A brief Introduction to service Marketing for B.com, M.com and MBA.

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Service marketing

  1. 1. Service-Marketing A brief Introduction. By M.M.Killedar
  2. 2. !Why study Services Marketing  The services sector has been growing at a rate of 8% per annum in recent years  48% of our GDP is accounted for from the services sector  This sector dominates with the best jobs, best talent and best incomes  23% of the total workforce is in service sector.
  3. 3. What is Service A Service is a type of a product. “… a deed performed by one party for another…”  Discussions about the marketing of goods apply to services as well.  Services have special characteristics that make them different than products
  4. 4. Definition of services “In exchange for their money, time, and effort, service customers expect to obtain value from access to goods, labor, professional skills, facilities, networks, and systems; but they do not normally take ownership of any of the physical elements involved”. ____ Christopher Lovelock
  5. 5. Goods and Services: Scale of Elemental Dominance
  6. 6. Characteristics of Services     1. Intangibility - “u can’t touch this” 2. Production (or performing the service) and Consumption (using the service) - happens at the same time 3. Heterogeneity - services are not always delivered the same way 4. Perishability - cannot be put in inventory or stored for later use. i.e.. You can’t buy 2 haircuts
  7. 7. The 8 Ps of services marketing.  Product.  Process.  Place.  Physical environment.  Price.  People  Promotion.  Productivity & quality.

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