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3. How can we achieve excellence in services marketing?

Achieving excellence in services marketing involves excelling in external, internal, and interactive marketing. Top service companies prioritize customer satisfaction, maintain high service quality standards, and strategically focus on profitable customer tiers. They also implement monitoring systems to assess service performance and gather customer feedback.

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How can we achieve excellence in services marketing? DESIGNING & MANAGING SERVICES
Marketing Excellence Marketing excellence with services requires excellence in 3 broad areas: 1) External Marketing: Normal preparing, pricing, distributing and promoting service to customers. 2) Internal Marketing: Training and motivating employees to serve customers well. 3) Interactive Marketing: It describes the employees’ skill in serving the client.
Best Practices of Top Service Companies
Strategic Concept Top service companies are ‘customer obsessed’. They have a clear sense of their target customers and have developed a distinctive strategy for satisfying these needs.
In successful companies, top management has a thorough commitment to maintaining and improving service quality. Top-Management Commitment
High Standards The best service providers set high quality standards. ! Citibank aims at answering calls within 10 seconds and customer letters within 2 days.
Profit Tiers Firms have decided to raise fee and lower services for those customers who barely pay their way, and try to retain big spenders as much as possible. Customers in high- profit tiers get special discounts, promotional offers and special service.
Monitoring Systems Top firms audit service performance, both their own and their competitors’. They collect Voice of the Customer measurements to probe customer satisfiers and dissatisfiers.
Created by Anngad Singh, Delhi Technological University, during an internship by Prof. Sameer Mathur, IIM Lucknow. www.IIMInternship.com