The Service industry forms a backbone of Social and Economicdevelopment of a region. It has emerged as the largest and fastest growingsectors in the world economy, making higher contribution to the global outputand employment. Its growth has been higher than that of Agriculture andManufacturing sectors. It is a large and most dynamic part of Indian Economyboth in terms of employment potential and contribution to National Income.
Service marketing, CLASSIFICATION OF SERVICERATHESH J
Service Marketing, Characteristics of services, Classification of Services, Service Process, Designing the service process, Service Blueprint, Services marketing mix , 7 P’s of Service Marketing
It defines the relations, promises and marketing efforts between the three key stakeholders in services marketing - companies, providers (employees), and customers. Internal marketing is done between company and providers, external marketing is performed between companies and customers, and interactive marketing takes place between customers and providers.Marketing service triangle plays a very important role in service industries.
Service marketing, CLASSIFICATION OF SERVICERATHESH J
Service Marketing, Characteristics of services, Classification of Services, Service Process, Designing the service process, Service Blueprint, Services marketing mix , 7 P’s of Service Marketing
It defines the relations, promises and marketing efforts between the three key stakeholders in services marketing - companies, providers (employees), and customers. Internal marketing is done between company and providers, external marketing is performed between companies and customers, and interactive marketing takes place between customers and providers.Marketing service triangle plays a very important role in service industries.
Service marketing introduction, , classification and challengesPROF.JITENDRA PATEL
This Module contain basic of Service Marketing, its definition, major characteristics of Services, its various classification, contribution of service in economy and various challenges faced by service marketer.
Assessing service market potential - Classification of services – Expanded marketing mix – Service marketing – Environment and trends – Service market segmentation, targeting and positioning
This is a compilation of introductory notes on Service Marketing with emphasis on meaning, evolution, universal nature of services, challenges to delivering services and finally basic insights into 7Ps of marketing from the perspectives of marketing of services.
Service marketing introduction, , classification and challengesPROF.JITENDRA PATEL
This Module contain basic of Service Marketing, its definition, major characteristics of Services, its various classification, contribution of service in economy and various challenges faced by service marketer.
Assessing service market potential - Classification of services – Expanded marketing mix – Service marketing – Environment and trends – Service market segmentation, targeting and positioning
This is a compilation of introductory notes on Service Marketing with emphasis on meaning, evolution, universal nature of services, challenges to delivering services and finally basic insights into 7Ps of marketing from the perspectives of marketing of services.
Meaning, Features of RRBs, Objectives of Regional Rural Banks, Formation and Development of Regional Rural Banks, Reform process of RRBs, For Development/ Promotion/ & Effectiveness of RRBs., Working of RRBs, Functions of RRBs, Structure of Rural Credit
Recently, IMF said that India will grew at 7.5% overtaking China as the fastest growing economy in 2015-16 due to recent policy initiatives made by government of India.But the prospects could change depending on the implementation of the reforms of the new Modi government.
An estimate of World Bank says that an additional 64 million people are living in extreme poverty on less
than US$1.25 a day by the end of 2010 as a result of the global recession. Low export dependency, a
large consumption base and the high share of employment and income come from rural areas.
Government’s focus and initiatives at local level will help in sustaining the economic growth at large. India
is among the most attractive destinations globally, for investments and business and FDI had increased
over the last few years. With the inclusive work force participation, development of infrastructural
facilities, encouraging small and medium enterprise MSMEs sector, government can fill the gap of income
disparity in different regions. Better policy measures and awareness programmes regarding many of the
government initiatives for the betterment of society can do wonders for an inclusive society and nation.
Better employment prospects, better technical education and programmes on poverty eradication and
public health must be priory concerned. An action oriented approach in a very aggressive manner would
be needed to facilitate a better livelihood and better market conditions for the society.
Marketing strategies for services sector by G.RekaPOLIKAIYOOR REKA
The service industry forms a backbone of social and economic development of a region. It has emerged as the largest and fastest-growing sectors in the world economy, making higher contributions to the global output and employment. Its growth rate has been higher than that of agriculture and manufacturing sectors. It is a large and most dynamic part of the Indian economy both in terms of employment potential and contribution to national income. It covers a wide range of activities, such as trading, transportation and communication, financial, real estate and business services, as well as community, social and personal services. This paper attempts to define the service sector, particularly on marketing strategies in service sector
To give a holistic overview of the areas of potential investment in Uttar Pradesh, ASSOCHAM and Resurgent India have jointly brought out a special study on this occasion which carries a long term vision for growth and development in the State.
List of Profitable Business Ideas in Services Sector,....Ajjay Kumar Gupta
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The services sector is not only the dominant sector in India’s GDP, but has also attracted significant foreign investment flows, contributed significantly to exports as well as provided large-scale employment. India’s services sector covers a wide variety of activities such as trade, hotel and restaurants, transport, storage and communication, financing, insurance, real estate, business services, community, social and personal services, and services associated with construction.
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1. 2009-2011
Submitted by: Gagan Gupta
VIMS - PUNE
2009-2011
Service Marketing Role in Indian
Economy
Submitted to
Prof. Nandre
2. Service Marketing
The Service industry forms a backbone of Social and Economic
development of a region. It has emerged as the largest and fastest growing
sectors in the world economy, making higher contribution to the global output
and employment. Its growth has been higher than that of Agriculture and
Manufacturing sectors. It is a large and most dynamic part of Indian Economy
both in terms of employment potential and contribution to National Income.
It covers a wide range of activities, such as trading, transportation and
communication, financial, real-estate and business services as well as
community, social and personal services. The various sectors that combine
together to constitute service industry in India are:
Trade
Hotels and Restaurants
Railways
Other Transport & Storage
Communication (Post, Telecom)
Banking
Insurance
Dwellings, Real Estate
Business Services
Public Administration; Defence
Personal Services
Community Services
Other Services
55.10%26.40%
18.50%
Total Contribution in GDP of 2006-07
Service
Industry
Agriculture
3. In India, service sector, as a whole, contributed as much as 55.1% of
overall average growth in GDP (Gross Domestic Product) between years 2002-
03 and 2006-07.
The most important services in the Indian economy have been health and
education. They are one of the largest and most challenging sectors and hold a
key to the country's overall progress. A strong and well-defined health care
sector helps to build a healthy and productive workforce as well as stabilise
population. The 'Ministry of Health and Family Welfare' is responsible for
implementation of various programmes in the areas of health and family
welfare, prevention and control of major communicable diseases as well as
promotion of traditional and indigenous systems of medicines. Accordingly, it is
carrying out measures like National health policy, implementing National Rural
Health Mission (NRHM) in different States, conducting surveys and studies,
etc. While, education strongly influences improvement in health, hygiene and
demographic profile. The 'Ministry of Human resource Development' is
involved in eradicating illiteracy from the country. It is concerned with
universalisation of elementary education, achieving full adult literacy, laying
down of National Policy on Education, meeting needs of secondary and higher
education for all, etc. India has achieved impressive demographic transition
owing to the decline of crude birth rate, crude death rate, total fertility rate and
infant mortality rate as well as gained high literacy rate in the country.
The era of economic liberalisation has ushered in a rapid change in the
service industry. As a result, over the years, India is witnessing a transition from
agriculture-based economy to a knowledge-based economy. The knowledge
economy creates, disseminates, and uses knowledge to enhance its growth and
development. One of the major functional pillars of this economy is Information
Technology (IT) and IT-enabled services (ITeS) industry. The 'Department of
Information Technology' has been making continuous efforts to make India a
front-runner in the age of Information revolution. IT continues to be a
dominating sector in the overall growth of the Indian industry. A large number
of Indian software companies have acquired international quality certification.
Several policies have also been framed on the key issues of IT infrastructure,
electronic governance as well as IT education.
4. Another major and upcoming service industry has been media and
entertainment. It is basically an intellectual property-driven sector with small to
large players spread throughout the country. It covers film, music, radio,
broadcast, television and live entertainment. It plays a significant role in
creating people's awareness about national policies and programmes by
providing information and education to all. The 'Ministry of Information and
Broadcasting' is responsible for formulation and administration of the rules,
regulations and laws relating to media industry. Besides, retailing has been one
of the fastest growing service sectors both in terms of turnover and
employment. Many national and global players have been investing in the retail
segment and are making all efforts to further expand the sector. Out of the total
retail outlets in the country, most of them are related to food items.
However, to supplement the achievements and meet the shortfalls in all
the sub-sectors of the service industry, travel and tourism sector has to be
developed in a sustainable manner. Being one of the largest industries in terms
of gross revenue and foreign exchange earnings, it stimulates growth and
expansion in other economic sectors like agriculture, horticulture, poultry,
handicrafts, transportation, construction, etc. as well as gives momentum to
growth of service exports. It is a major contributor to the national integration
process of the country as well as preserver of natural and cultural environments.
The 'Ministry of Tourism' has been undertaking several policy measures and
incentives so as to boost the sector such as the announcement of the National
Tourism Policy.
All this shows that services hold immense potential to accelerate the
growth of an economy and promote general well-being of the people. They
5. offer innumerable business opportunities to the investors. They have the
capacity to generate substantial employment opportunities in the economy as
well as increase its per capita income. Without them, Indian economy would not
have acquired a strong and dominating place on the world platform. Thus,
service sector is considered to be an integral part of the economy and includes
various sub-sectors spread all across the country.
Facts and Figures of Service sector in India:
There has been a 13 percent hike in the service sectors of trade, hotels,
transport and communication in India's economy as compared to the 10.4
percent rise in the previous year. The financial services that comprise of banks,
real estate, insurance, and business services witnessed a rise of 11.1 percent
during 2006-07 against the 10.9 percent growth in the previous year. Service
sectors including community, social, and personal services experienced a
growth of 7.8 percent during 2006-07 as against 7.7 percent growth in the
previous year.
The software services in Indian economy increased by 33 percent which
registered revenue of USD 31.4 billion
Business services grew by 82.4 percent
Engineering services and products exports grew by 23 percent and earned a
revenue of USD 4.9 billion
Services concerning personal, cultural, and recreational had a growth of 96
percent
Financial services had a rise of 88.5 percent
Travel, transport, and insurance grew by 23 percent
Future of Service Sector in India
Globally outsourcing industry would continue to grow.
Following the success of US and UK, more countries in the European
Union would outsource their business.
Technological power shift from the West to the East as India and China
emerge as major players.
Political backlash over outsourcing would come down as companies reap
the benefit of outsourcing.