This document discusses key concepts in services marketing, including the 7 Ps of services marketing versus the traditional 4 Ps of product marketing. It also discusses differences between goods and services, and provides examples of how concepts like the 7 Ps apply to banking services. Benchmarking and gap analysis are introduced as tools to compare actual performance to potential performance or industry best practices. The goal of these tools is to identify areas for improvement.
Getting deep insight of service quality modelsdeshwal852
Customer satisfaction is the only way to remain in business for the entrepreneurs. Service quality is the weapon in the hands of businessman by which they can retain the customers. Service quality is a crucial factor for the success of the business firm; if the service provider is rightly aware about the different dimensions of the service quality then it is easy to make the customers satisfied. The present paper makes
an attempt to discuss the various service quality models with reference to pertinent literature.
Getting deep insight of service quality modelsdeshwal852
Customer satisfaction is the only way to remain in business for the entrepreneurs. Service quality is the weapon in the hands of businessman by which they can retain the customers. Service quality is a crucial factor for the success of the business firm; if the service provider is rightly aware about the different dimensions of the service quality then it is easy to make the customers satisfied. The present paper makes
an attempt to discuss the various service quality models with reference to pertinent literature.
For the purposes of this paper, service will be a synonym for the product of the Hospitality industry.
The relation of service to the hospitality industry does not necessarily mean that this paper has a limited scope.
Service expectations and how they are formed can be related to the entire field business and humanistic interaction.
For the purposes of this paper, service will be a synonym for the product of the Hospitality industry.
The relation of service to the hospitality industry does not necessarily mean that this paper has a limited scope.
Service expectations and how they are formed can be related to the entire field business and humanistic interaction.
In the service industry, definitions of service quality tend to focus on meeting customers needs and requirements and how well the service delivered meets their expectations
Each of the 5 Service Quality Dimensions makes an extra addition to the level and quality of service which the company offers their customers.
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 ...
1st Module of Services Marketing
Reasons for the growth of the services sector and its contribution; the difference in goods and service marketing; characteristics of services; the concept of service marketing triangle; service marketing mix; GAP models of service quality.
Consumer behavior in services: Search, Experience and Credence property, consumer expectation of services, two levels of expectation, Zone of tolerance, Factors influencing customer expectation of services.
Customer perception of services-Factors influencing customer perception of service, Service encounters, Customer satisfaction, Strategies for influencing customer perception.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Putting the SPARK into Virtual Training.pptxCynthia Clay
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[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
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Explore the world of the Taurus zodiac sign. Learn about their stability, determination, and appreciation for beauty. Discover how Taureans' grounded nature and hardworking mindset define their unique personality.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
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Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
1. 7 P’s of Services:
1. Product
2. Prices
3. Place
4. Promotion
5. Process: Steps of doing things e.g. Call Centre, Banks, Insurance etc.
6. People
7. Physical Evidences: Clues, ambience etc.
In product marketing only 4 P’s are lying but in service marketing not only top 4 but
other 3 P’s are also equally important.
How services are different from product?
1. Goods are tangible means we can see, touch & feel before buying whereas
services are intangible we can’t be seen and touch but we can only feel it.
2. Consumption and procurement of goods may not occur simultaneously whereas
in services it is mandatory that the consumption & procurement of services occur
at the same time/ simultaneously.
3. Goods cannot be stored whereas services can be stored for long time period.
Example: Insurance.
4. Goods can be owned and services cannot be owned.
5. 7 P’s are lying under services marketing whereas only 4 P’s are lying under
product marketing.
In case of Banks:
Product: Current account and savings accounts, loan etc.
Price: Locker charges, interest rates etc.
Place: Branches at different places, ATMs etc.
Promotion: Advertisements
Process: it is the stipulated set of procedures that is applicable to all and that must
be followed to reduce the heterogeneity of services.
It is the set of procedures that have to be followed from the company’s point of view.
2. People: people are central of the service marketing because people (employees)
are the giver of the services and the people (customers) are the receiver of the
services.
The services marketing triangle explains the concepts and highlights the
importance of people:
1. The management promises the customer the timely services e.g. Dominos
promises its customer delivery within 30 min. or free pizza.
2. Management enables their employees by giving them training. So that the
employees are enabled to deliver the services. E.g. Dominos provides training to
its staff and provides two wheeler to the delivery boys.
3. The employees finally interact with the customer if the employee is rude or has a
language problem the entire services explain gets smarted on the other hand of
the customer is rude again services so also bad. So we can say that the people
are central to services deliver.
Management
Enabler Promisor
Employees Interacting/ Receiver Customer
Services Marketing Triangle
Physical Evidence: Services cannot be tried so before availing the services, every
customer should focus on same clues; these clues help the customer in taking
decisions. For e.g. in Banking: No. of Employees present on their seats.
Physical evidences are the clues that give indication about the quality of services.
For e.g. while planning to have a meal at a restaurant, the parking, the cloth on the
table, general cleanliness, uniform of the waiter give indications about the services,
we are about to experience.
Assignment:
3. Benchmarking and Blueprinting
Blueprinting: It is the process that is laid down from the customer’s point of view.
Example:
Customer Arrives Park Vehicle Goes For
Registration
Goes to Market to Bring Grocery Looks For A Market Hires A Cab/ Own
Car
Comes Back Unfasten Boat Himself Load Groceries
Return Cooks His Food Looks for a Direction Stays in Boat 3 Days
GAP Analysis
Customer Expectation Communication to Customer
Actual Service Decline GAP 5
GAP 4
Perceived Service
GAP 3
Service Delivery Specification
GAP 2
Management perception of customer expectation
G
A
P
1
4. Serve- Qual Model
Five Dimensions of Service Quality:
1. Reliability: the extent delivering consistent service and maintaining consistent
standard throughout is a measure of reliability.
Example: 1. Indian Railways are never on time enhance score very badly on
reliability.
2. Indigo Airlines always goes off & consistency delivers on time delivery or
departure of its flight.
3. City Bank assures 100% secure i-banking.
2. Assurance: The level to which the management and the employees of an
organisation manage to build confidence in the mind of the customer that all their
problems will be taken care off.
Example: When a tourist books a room in a five star hotel & find that the room is not
so clean & the bed linen is dirty. Assurance involves the manager coming to him.
a) Accepting the fault
b) Apologizing
c) Taking all necessary actions
d) Giving a Complementary Gifts as free dinner or free entry in casino or disco to
specify his mood.
3. Empathy: The extent to which the manager or an employee put themselves into
the customer’s shoe and then look for a solution is termed as empathy. For e.g.
Customer Care of Airtle.
4. Tangibility: A service that provides tangible cues to its customer or prospective
customer is considered good on service quality. Example on entering in a
restaurant, the overall ambience, parking facility, dress of chef or waiter give
possible hints about the service we are about to buy.
A good service provides the customer many such tangible cues.
5. Consideration: The extent to which customer recommends a service to other is
a measure of service quality.
5. Managing Demand and Supply in Services:
What makes service industries so distinct from manufacturing ones is their immediacy: the
hamburgers have to be hot, the motel rooms exactly where the sleepy travelers want them,
and the airline seats empty when the customers want to fly. Balancing the supply and
demand sides of a service industry is not easy, and whether a manager does it well or not
will, this author writes, make all the difference. In this rundown of the juggling feat service
managers perform, the author discusses the two basic strategies—“chase demand” and
“level capacity”—available to most service companies. He goes on to discuss several ways
service managers can alter demand and influence capacity.
The literature on capacity management focuses on goods and manufacturing, and many
writers assume that services are merely goods with a few odd characteristics. Unfortunately,
these researchers never fully explore the implications of these strange traits:
1. Services are direct; they cannot be inventoried. The perishability of services leaves the
manager without an important buffer that is available to manufacturing managers.
2. There is a high degree of producer-consumer interaction in the production of service,
which is a mixed blessing; on the one hand, consumers are a source of productive capacity,
but on the other, the consumer’s role creates uncertainty for managers about the process’s
time, the product’s quality, and the facility’s accommodation of the consumer’s needs.
3. Because a service cannot be transported, the consumer must be brought to the service
delivery system or the system to the consumer.
4. Because of the intangible nature of a service’s output, establishing and measuring
capacity levels for a service operation are often highly subjective and qualitative tasks.
Whereas the consumption of goods can be delayed, as a general rule services are produced
and consumed almost simultaneously. Given this distinction, it seems clear that there are
characteristics of a service delivery system that do not apply to a manufacturing one and that
the service manager has to consider a different set of factors from those that would be
considered by his or her counterpart in manufacturing. And if one looks at service industries,
it is quite apparent that successful service executives are managing the capacity of their
operations and that the unsuccessful are not. So, the “odd characteristics” often make all the
difference between prosperity and failure.
6. Gap analysis:- In business and economics, gap analysis is a tool that helps
companies compare actual performance with potential performance. At its core are
two questions: "Where are we?" and "Where do we want to be?" If a company or
organization does not make the best use of current resources, or foregoes
investment in capital or technology, it may produce or perform below its potential.
This concept is similar to the base case of being below the production possibilities
frontier.
Gap analysis identifies gaps between the optimized allocation and integration of the
inputs (resources), and the current allocation level. This reveals areas that can be
improved. Gap analysis involves determining, documenting, and approving the
variance between business requirements and current capabilities. Gap analysis
naturally flows from benchmarking and other assessments. Once the general
expectation of performance in the industry is understood, it is possible to compare
that expectation with the company's current level of performance. This comparison
becomes the gap analysis. Such analysis can be performed at the strategic or
operational level of an organization.
Benchmarking:- is the process of comparing one's business processes
and performance metrics to industry bests or best practices from other industries.
Dimensions typically measured are quality, time and cost. In the process of best
practice benchmarking, management identifies the best firms in their industry, or in
another industry where similar processes exist, and compares the results and
processes of those studied (the "targets") to one's own results and processes. In this
way, they learn how well the targets perform and, more importantly, the business
processes that explain why these firms are successful.
Benchmarking is used to measure performance using a specific indicator (cost per
unit of measure, productivity per unit of measure, cycle time of x per unit of measure
or defects per unit of measure) resulting in a metric of performance that is then
compared to others
Benchmarking: It means comparing oneself to the best in the business.
For example: City bank is the best on IT support, ICICI is best in aximpillary services.