Services Marketing Assignments

Service marketing are different from product marketing. The dynamic environment of services today places a premium on effective marketing. Among the keys to competing effectively in this new and challenging environment are skills in marketing strategy and execution.

Marketing can be described in several ways. It can be seen as a strategic thrust pursued by top management, as a set of functional activities performed by line managers (such as product policy, pricing, delivery, and communications), or ass a customer driven orientation for the entire organization.

Although it’s still very important to run an efficient operation, that orientation no longer suffices for success. Employees must be customer service oriented as well as concerned.

about efficiency. The service product must be tailored to customer needs, priced realistically, distributed through convenient channels, and actively promoted to customers. Today, many new market entrants positioning their services to appeal to specific market segments through their pricing, communication efforts, and service delivery, rather than trying to be all things to all people.

Services are deeds, processes and performances. In other words, service is an act or performance offered by one party to another. Services could a core of service or service that comes along with any product. When service is tied to a physical product, the performance is essentially intangible and does not normally result ownership of any of the factors of production. Services are economic activities that create value and provide benefits for customers at specific times and places as a result of bringing about a desired change in-or on behalf of –the recipient of the service.

Service marketing is a narrow term of marketing it deals with both business ton consumer and business to business service. It include marketing of services like financial services, car rental services, telecommunications services, health care services, all types of hospitality services, air travel, and professional services.Marketing is meant to convince the customer to purchase a good by highlighting the need and benefits of the given product or service. It is a science where students learn the theoretical concept of selling a product or a service to the consumer. It helps to develop skill for the transformation of the possession utility of a product. It comprises of the four P:

  • Identification, selection and development of a product or a service
  • Determination of cost price
  • Channel of distribution to reach the customer
  • Development of product promotion strategy and implementation

Classroom lectures can only impart theoretical knowledge; practical understanding can be gained by exclusive hands on experience only. The sale of commodities involves lots of clever strategies, tricks, research, and promotion to convince customer crossing geographical barriers, culture, economy, and age.

The focus of every business is to sell the product and earn high income. The sales depend on the marketing of the product whereas marketing is contingent on the strategies developed by the professional marketers, to convince a customer for a purchase.

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