7 Ps of Marketing! In marketing activities, the importance of service marketing targeting intangible services is increasing year by year. This time, I would like to explain the concept of service marketing and the basic framework “7P” for putting it into practice,
A form of product that consists of activities, benefits or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything. The government sector, with its court, employment services, hospitals, loan agencies, military services, police and fire department, postal service and schools, in the service business. An essential ingredient to any service provision is the use of appropriate staff and people. Refers to the systems used to assist the organization in delivering the service. Where is the service being delivered? Physical Evidence is the element of the service mix.
A form of product that consists of activities, benefits or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything. The government sector, with its court, employment services, hospitals, loan agencies, military services, police and fire department, postal service and schools, in the service business. An essential ingredient to any service provision is the use of appropriate staff and people. Refers to the systems used to assist the organization in delivering the service. Where is the service being delivered? Physical Evidence is the element of the service mix.
Transcript The Marketing Process ContinuumMission statementTh.docxedwardmarivel
Transcript: The Marketing Process Continuum
Mission statement
The mission statement should answer the following questions about the business:
· Who am I?
· Type of hotel—product focus and need
· Quality level—luxury, first-class, budget
· Business mix
· What are the key market segments I serve?
· What makes me unique?
· Salience, determinance, and importance
· Who are the key competitors whose success directly affects my business?
· Who are my constituents—formal and informal groups (employees, unions, suppliers, regulators/inspectors, and so on)—whose efforts on my behalf may contribute to success?
· How will I improve over the next 3-5 years?
The answers to these questions help organizations define their target markets and their business mix.
Strategy
Strategy involves matching opportunities with corporate capability. The strategic window of opportunity is a limited period during which the combination of an opportunity and the firm's ability to exploit it exists.
Breakthrough Opportunities are opportunities that help innovators develop hard-to-copy marketing strategies that will be very profitable for a long time. There must be a match or "fit" between the target market opportunity and the company's resources.
Competitive Advantage means that a firm has a marketing mix which the target market sees as better than a competitor's mix. The goal of strategic planning is to gain a sustainable competitive advantage.
An organization with a production orientation would focus on achieving a competitive advantage by increasing production efficiencies to develop a production cost advantage. A company with a sales orientation would develop a competitive advantage by having a more persuasive sales message. A firm with a marketing orientation would achieve a competitive advantage by satisfying consumers' needs.
Unless the company has some overriding competitive advantage, the target market selected should be served by only a few, small competitors.
Analysis
There are two schools of thoughts regarding what happens after an opportunity is identified. The traditional belief is that marketers must conduct an environmental analysis to analyze the sociocultural, demographic, economic, technological, political and legal, competitive, and ecological environments. Marketers use the data they've gathered in an environmental analysis to conduct a SWOT analysis, identifying the strengths, weaknesses, opportunities, and threats associated with their enterprise. In concert with the identification of organizational resources, this enables organizations to define marketing objectives and a unique competitive advantage.
The opposing, and more nascent view, known as the Effectual Approach, is that analogical reasoning based on experience should be used to make marketing decisions, whereas predictive information should be ignored or given little weight. The goal is to control outcomes, co-create value through partnerships, and transform situations to achieve desired results ...
POTENTIAL SERVICES, EXPECTED SERVICES
BASIC SERVICES, CORE BENEFIT, Line of visibility,
Service Design- 8 steps , Gaps Model of Service Quality,Provider Gap 1,Provider Gap 2,Key Factors Leading to Provider Gap 2,Provider Gap 3,Key Factors Leading to Provider Gap 4, Zone of Tolerance
What difference between weather and climate?Aadil Shaikh
What difference between weather and climate? The climate at a given location on the globe is called the regional climate. It is defined by the statistical characteristics of local weather conditions, obtained over a long period of time. The regional climate informs us about the seasonal variations typical of a region.
When earth will die? Scientists agree that the sun will die within 10 billion years, but they weren’t sure – until recently – what would happen to it next.
Health benefits of strawberry! The advantages and properties of strawberries are for health. They have many: they help lose weight, prevent cardiovascular disease, moisturize, improve skin conditions, strengthen the immune system, and other things I will explain below. With the advent of heat, there is nothing more suitable than strawberries. Although fruits such as apples, bananas, or oranges are more popular, strawberries are even healthier because they are composed of essential vitamins and minerals. In addition, associations such as the Spanish Heart Foundation (FEC) also claim the nutritional properties of these red fruits because they have a positive effect on the heart. The scientific name of strawberry is strawberry.
Earth rotates from which direction? The earth rotates from west to east around a straight line passing through the north and south poles. Therefore, it seems that celestial bodies such as the sun and the moon are turning from east to west.
Galileo said in the 17th century that the earth was spinning, but he couldn’t believe it.
25 strange facts about dreams! Everyone dreams. And dreams are usually vague and confusing, and sometimes they are unbearable hell and maybe beautiful that you do not want to wake up from. What is the nature of the dream, it is a mysterious and strange phenomenon that occurs to us during sleep and makes us ask many confusing questions such as. What is the dream? What is the purpose of the dream? How did dreams happen? And other questions
Top ten digital camera popularity rankingsAadil Shaikh
However, the performance and price gap of these products is quite large. Manufacturers such as Canon Canon, Panasonic International, FUJIFILM Fuji, Leica Leica, Nikon, and SONY Sony have also launched many models with different functions and characteristics. Will be dazzled. This time I will introduce some basic knowledge of the camera and select 10 models with their own characteristics to recommend to readers, whether it is a cheap model suitable for operation with children, or a multi-functional model of a well-known brand, it is covered, hurry up and follow Find out the most suitable model in the footsteps of the article.
Sports in India! There are totally different quiet games vie in the Republic of India, from fashionable sports like soccer and Cricket to lesser famous, however, most vie native games, Kho- kho, Langdi and Gillidanda. Here is that the list of high fifteen hottest sports in {India|Republic of India|Bharat|Asian country|Asian nation} with the special place and a part of the physical culture in ancient India.
How to delete an Instagram account? Every month, nearly one billion users use Instagram friends to share photos, track followers’ messages or promote businesses. However, this social networking site belongs to Facebook. Facebook has experienced large-scale user personal information leakage and a series of information security incidents
How are you in Spanish? Spanish Phrases 1 (Useful Phrases)Aadil Shaikh
Spanish Phrases 1 (Useful Phrases)
This page contains many phrases and expressions that are considered the most frequently used. These expressions will help you write, read, and speak.
Familiarizing yourself with these words will make it easier for you to understand what you were told. Make sure to pronounce the sentences after reading them.
Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
AI-Powered Personalization: Principles, Use Cases, and Its Impact on CROVWO
In today’s era of AI, personalization is more than just a trend—it’s a fundamental strategy that unlocks numerous opportunities.
When done effectively, personalization builds trust, loyalty, and satisfaction among your users—key factors for business success. However, relying solely on AI capabilities isn’t enough. You need to anchor your approach in solid principles, understand your users’ context, and master the art of persuasion.
Join us as Sarjak Patel and Naitry Saggu from 3rd Eye Consulting unveil a transformative framework. This approach seamlessly integrates your unique context, consumer insights, and conversion goals, paving the way for unparalleled success in personalization.
A.I. (artificial intelligence) platforms are popping up all the time, and many of them can and should be used to help grow your brand, increase your sales and decrease your marketing costs.In this presentation:We will review some of the best AI platforms that are available for you to use.We will interact with some of the platforms in real-time, so attendees can see how they work.We will also look at some current brands that are using AI to help them create marketing messages, saving them time and money in the process. Lastly, we will discuss the pros and cons of using AI in marketing & branding and have a lively conversation that includes comments from the audience.
Key Takeaways:
Attendees will learn about LLM platforms, like ChatGPT, and how they work, with preset examples and real time interactions with the platform. Attendees will learn about other AI platforms that are creating graphic design elements at the push of a button...pre-set examples and real-time interactions.Attendees will discuss the pros & cons of AI in marketing + branding and share their perspectives with one another. Attendees will learn about the cost savings and the time savings associated with using AI, should they choose to.
Digital Commerce Lecture for Advanced Digital & Social Media Strategy at UCLA...Valters Lauzums
E-commerce in 2024 is characterized by a dynamic blend of opportunities and significant challenges. Supply chain disruptions and inventory shortages are critical issues, leading to increased shipping delays and rising costs, which impact timely delivery and squeeze profit margins. Efficient logistics management is essential, yet it is often hampered by these external factors. Payment processing, while needing to ensure security and user convenience, grapples with preventing fraud and integrating diverse payment methods, adding another layer of complexity. Furthermore, fulfillment operations require a streamlined approach to handle volume spikes and maintain accuracy in order picking, packing, and shipping, all while meeting customers' heightened expectations for faster delivery times.
Amid these operational challenges, customer data has emerged as an important strategy. By focusing on personalization and enhancing customer experience from historical behavior, businesses can deliver improved website and brand experienced, better product recommendations, optimal promotions, and content to meet individual preferences. Better data analytics can also help in effectively creating marketing campaigns, improving customer retention, and driving product development and inventory management.
Innovative formats such as social commerce and live shopping are beginning to impact the digital commerce landscape, offering new ways to engage with customers and drive sales, and may provide opportunity for brands that have been priced out or seen a downturn with post-pandemic shopping behavior. Social commerce integrates shopping experiences directly into social media platforms, tapping into the massive user bases of these networks to increase reach and engagement. Live shopping, on the other hand, combines entertainment and real-time interaction, providing a dynamic platform for showcasing products and encouraging immediate purchases. These innovations not only enhance customer engagement but also provide valuable data for businesses to refine their strategies and deliver superior shopping experiences.
The e-commerce sector is evolving rapidly, and businesses that effectively manage operational challenges and implement innovative strategies are best positioned for long-term success.
The What, Why & How of 3D and AR in Digital CommercePushON Ltd
Vladimir Mulhem has over 20 years of experience in commercialising cutting edge creative technology across construction, marketing and retail.
Previously the founder and Tech and Innovation Director of Creative Content Works working with the likes of Next, John Lewis and JD Sport, he now helps retailers, brands and agencies solve challenges of applying the emerging technologies 3D, AR, VR and Gen AI to real-world problems.
In this webinar, Vladimir will be covering the following topics:
Applications of 3D and AR in Digital Commerce,
Benefits of 3D and AR,
Tools to create, manage and publish 3D and AR in Digital Commerce.
Search Engine Marketing - Competitor and Keyword researchETMARK ACADEMY
Over 2 Trillion searches are made per day in Google search, which means there are more than 2 Trillion visits happening across the websites of the world wide web.
People search various questions, phrases or words. But some words and phrases are searched
more often than others.
For example, the words, ‘running shoes’ are searched more often than ‘best road running
shoes for men’
These words or phrases which people use to search on Google are called Keywords.
Some keywords are searched more often than others. Number of times a keyword is searched
for in a month is called keyword volume.
Some keywords have more relevant results than others. For the phrase “running shoes” we
get more than 80M relevant results, whereas for “best road running shoes for men” we get
only 8.
The former keyword ‘running shoes’ has way more competition from popular websites to
new and small blogs, whereas the latter keyword doesn’t have that much competition. This
search competition for a keyword is called search difficulty of a keyword or keyword
difficulty.
In other words, if the keyword difficulty is ‘low’ or ‘easy’, there won’t be any competition
and if you target such keywords on your site, you can easily rank on the front page of Google.
Some keywords are searched for, just to know or to learn some information about something,
that’s their search intention. For example, “What shoe size should I choose?” or “How to pick
the right shoe size?”
These keywords which are searched just to know about stuff are called informational
keywords. Typically people who are searching this type of keywords are top of a Conversion
funnel.
Conversion funnel is the journey that search visitors go through on their way to an email
subscription or a premium subscription to the services you offer or a purchase of products
you sell or recommend using your referral link.
For some buyers, research is the most important part when they have to buy a product.
Depending on that, their journey either widens or narrows down. These types of buyers are
Researchers and they spend more time with informational keywords.
Conversion is the action you want from your search visitors. Number of conversions that you
get for every 100 search visitors is called Conversion rate.
People who are at different stages of a conversion funnel use different types of keywords.
Top 3 Ways to Align Sales and Marketing Teams for Rapid GrowthDemandbase
In this session, Demandbase’s Stephanie Quinn, Sr. Director of Integrated and Digital Marketing, Devin Rosenberg, Director of Sales, and Kevin Rooney, Senior Director of Sales Development will share how sales and marketing shapes their day-to-day and what key areas are needed for true alignment.
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
For too many years marketing and sales have operated in silos...while in some forward thinking companies, the two organizations work together to drive new opportunity development and revenue. This session will explore the lessons learned in that beautiful dance that can occur when marketing and sales work together...to drive new opportunity development, account expansion and customer satisfaction.
No, this is not a conversation about MQLs and SQLs. Instead we will focus on a framework that allows the two organizations to drive company success together.
When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.
Key Takeaways:
- New framework for examining and safeguarding an online reputation
- Tools and techniques to keep you a step ahead
- Practical examples that demonstrate when to act, how to act and how to recover
Videos are more engaging, more memorable, and more popular than any other type of content out there. That’s why it’s estimated that 82% of consumer traffic will come from videos by 2025.
And with videos evolving from landscape to portrait and experts promoting shorter clips, one thing remains constant – our brains LOVE videos.
So is there science behind what makes people absolutely irresistible on camera?
The answer: definitely yes.
In this jam-packed session with Stephanie Garcia, you’ll get your hands on a steal-worthy guide that uncovers the art and science to being irresistible on camera. From body language to words that convert, she’ll show you how to captivate on command so that viewers are excited and ready to take action.
How to Run Landing Page Tests On and Off Paid Social PlatformsVWO
Join us for an exclusive webinar featuring Mariate, Alexandra and Nima where we will unveil a comprehensive blueprint for crafting a successful paid media strategy focused on landing page testing.With escalating costs in paid advertising, understanding how to maximize each visitor’s experience is crucial for retention and conversion.
This session will dive into the methodologies for executing and analyzing landing page tests within paid social channels, offering a blend of theoretical knowledge and practical insights.
The Pearmill team will guide you through the nuances of setting up and managing landing page experiments on paid social platforms. You will learn about the critical rules to follow, the structure of effective tests, optimal conversion duration and budget allocation.
The session will also cover data analysis techniques and criteria for graduating landing pages.
In the second part of the webinar, Pearmill will explore the use of A/B testing platforms. Discover common pitfalls to avoid in A/B testing and gain insights into analyzing A/B tests results effectively.
Unleash the power of UK SEO with Brand Highlighters! Our guide delves into the unique search landscape of Britain, equipping you with targeted strategies to dominate UK search engine results. Discover local SEO tactics, keyword magic for UK audiences, and mobile optimization secrets. Get your website seen by the right people and propel your brand to the top of UK searches.
To learn more: https://brandhighlighters.co.uk/blog/top-seo-agencies-uk/
1. Basics of service marketing: 7Ps explain with an example
7 Ps of Marketing! In marketing activities, the importance of service marketing targeting
intangible services is increasing year by year. This time, I would like to explain the concept of
service marketing and the basic framework "7P" for putting it into practice, while introducing
examples.
table of contents
• Service Marketing Overview
• Service characteristics
o Intangible / intangible: intangibility
o Simultaneity/indivisibleness: simultaneity
o Extinct / non-storable: perishability
o Heterogeneity: heterogeneity
• What is 7P?
o
▪ 4P
▪ 3P
o Personnel
o Process (business process/sales process)
o Physical Evidence
• 7P use case
• Summary
Service Marketing Overview
2. The 1960s, when 4P was advocated, was an era of mass marketing that developed for tangible
goods such as automobiles and home appliances, but in the 1970s, it was visible in various fields
such as information, finance, travel, and restaurants. There are a need for marketing
targeting “service products (intangible goods)” that are not available. The service marketing
mix that Philip Kotler added three P elements to McCarthy's 4P is called 7P. Service marketing
refers to a marketing strategy that takes into account the unique characteristics of services as
ancillary functions of the service industry and products.
Currently, the service industry in the United States has reached 80% of GDP, and in Japan, about
70% of production is generated from service-related industries, and its importance is increasing.
In addition, service marketing does not simply refer to activities in the field of the "service
industry", but applies to customer contact points in all industries. For example, hospitals are not
a service industry, but even in clinics, patients are customers, and it is required to carry out sales
activities that emphasize contact with customers.
Service characteristics (7 Ps of Marketing)
Kotler, who advocated 7P, characterized the characteristics of the service as
follows.
Intangible / Intangible
Services are intangible and intangible goods
Simultaneous/indivisible
service production and consumption occur at the same time
Nonuniformity / volatility
services are difficult to standardize in quality depending on who provides them and when
Extinct / non-storable
services cannot be stored
Intangible / intangible: intangibility
Since the service has no shape, it cannot be touched, tasted, or confirmed as an entity before
purchase. Therefore, it is necessary to visualize the service. For example, a remodeling company
publishes past service provision examples and introduction examples on pamphlets and websites
so that they can be seen.
Challenges
Increase the tangibility of services
Simultaneity/indivisibleness: simultaneity
Since the interrelationship between the provider and the beneficiary becomes important in
inseparability, it is necessary to improve quality and service and build a relationship of trust with
3. consumers. In addition, the simultaneity in which the service provider and the service provider
must exist at the same time requires the solution of distance and personnel problems. With one-
on-one services, the number of people who can receive the service is limited, but it is necessary
to create a system that can accommodate many customers, such as incorporating group lessons
and video lessons in the cram school and utilizing seminars in the consulting industry.
Challenges
Increasing the importance of mutual relationships between providers and beneficiaries
・ Providing high quality
・ Building relationships of trust
Solving distance and personnel problems
・ Creating a mechanism to deal with multiple consumers at once
Extinct / non-storable: perishability
The service cannot be stored or stored. For example, hotel rooms and live tickets cannot be
carried over. If it is unsold, it cannot be sold. Therefore, demand management and supply
management are required. For example, in the case of a hotel, we will try to stimulate demand by
discounting during non-peak hours or hire part-time employees to increase supply during peak
hours.
Issues
Thorough receipt management
Heterogeneity: heterogeneity
The quality of services varies depending on who provides them and when they provide them, and
it is difficult to always provide the same quality. At the hairdresser, the skill will differ
depending on the beautician, and at the restaurant, the taste may differ depending on the
condition of the cook. Still, we need to ensure that the quality is always satisfying. We will
incorporate manuals, standardization of business flows, and process management.
Challenges
Manage to maintain constant quality at all times
What are the 7 Ps of Marketing?
4. Let's delve into the 7P proposed by Kotler. 7P stands for the following 7 Ps.
4P
Product
Price (Price / Pricing) = Pricing Strategy
Place (distribution / channel) = distribution strategy
Promotion (promotion / promotion) = sales promotion strategy
3P
Personnel
Process (business process/sales process)
Physical Evidence
5. These seven items are collectively called the 7 Ps of Marketing. I have already explained 4P in
detail last time, so I will explain 3P.
Personnel
Personnel refers to all personnel who provide services to customers, including employees, related
parties, partner companies, etc., in the company's business environment. It doesn't matter to the
customer, whether the service provider is an employee of the company or an employee of a
partner company. All personnel must provide services that satisfy their customers under their
control.
Process (business process/sales process)
Process refers to various ways of servicing customers. In order to provide high-quality services,
for example, customer centers are required to improve CRM and improve efficiency, and in
order to improve payment methods, it is necessary to review the sales process.
Physical Evidence
Physical Evidence is, in a nutshell, to provide customers with security and security. We provide
services that remove customer anxiety and visualize guarantees, such as certificates and
contracts, and traceability that specifies the producer of food.
The above are the elements of 7P, but companies need to think about which of 7P to strengthen
in order to increase profits. The order is not particularly important in putting these 7P marketing
mixes into practice, but it is necessary to consider the connections such as balance, synergies,
and consistency of each. It is a framework for devising what and what to strengthen and combine
7P to achieve the goal, to differentiate from competitors, to gain superiority, and to obtain the
maximum effect.
6. 7 Ps of Marketing use case
Product
With the product concept of providing "unusual experiences," original characters such as Mickey
Mouse provide fantasy and nostalgia.
Price
Oriental Land has raised the price of passports for the third consecutive year since 2013 in line
with the increase in the number of visitors. The reasons for this are to reduce the number of
visitors, reduce congestion in the park, and secure investment funds for the park in the
future. Even with the price increase, the large number of 30 million people has been maintained
so far, but it seems that it has slowed down compared to the increase in the number of visitors
before the price increase. In fact, 2015 and 2016 are below 2014. Disney makes a profit that
covers the decrease in the number of visitors by raising the average customer price per person,
but if the price is raised and the quality is lowered, it will cause customer attrition. Disney is
currently preparing a major renewal, including a new theme zone for the blockbuster movie
Frozen, but is investing in a price increase.
Place
The location of Tokyo Disney Resort is ideally located within a 50km radius of a day trip with
more than 30 million customers. We thoroughly scrutinize the "distribution" of where to operate
when opening the park.
Promotion
Disney has a unique promotional strategy. Based on the concept of "only one person", the
trademark Mickey Mouse is devised so that it does not exist at the same time as possible with
Disney resorts around the world. To the last, we have a promotion system that adheres to the
concept of providing "fantasy" to ensure consistency.
Personnel
Employees working at Disney Resort are called "casts" and have a thorough education
system. The cast has a basic one-year contract to prevent it from becoming a rut, and by
establishing a division of labor system, we try to fulfill each person's role perfectly.
Process (service provision process)
At Disney, we are devising ways to provide services tailored to each customer, rather than
standardized services. As an example, we issue a pass for children who have been restricted in
height so that they can ride the vehicle the next time they visit the park without waiting. In
addition, we have a system in place to provide better services according to the condition of,
customers such as people with disabilities and foreigners.
7. Physical Evidence
The design of the facility and the physical elements such as the arrangement and color of the
objects have been devised to create the extraordinary concept. For example, in order to
intentionally change the ratio of buildings and not to see the outside real world, transport
vehicles such as trucks that carry goods and ingredients are designed to pass through
underground passages.
Summary
Service marketing is thus incorporated into the marketing activities of many successful
companies. Services are inherently highly innovative for differentiation. Especially for small and
medium-sized enterprises that cannot beat the big ones in price competition, service-based
management innovation can be an important factor for future growth. Understand what a service
is and be able to use it strategically.