Before working on the marketing mix, it’s vital to narrow down your target market so you have a clear idea of to whom you are selling. By seizing these opportunities, service businesses can create a memorable brand experience and build a following of customers. The American Marketing Association defines services as - “Activities, benefits and satisfactions which are offered for sale or are provided in connection with the sale of goods.” The defining characteristics of a service are: Intangibility:Services are intangible and do not have a physical existence. Research the interval your customers require your service and target them to get reoccurring sales. The concept of value exchange is the heart of marketing and customer theory that occur between two parties. You will look at the characteristics and different types of services and study Maslow’s hierarchy of needs as well as Max-Neef’s fundamental human needs. An accounting firm, for example, can market its services to other companies, big and small. The American Marketing Association defines services as - “Activities, benefits and satisfactions which are offered for sale or are provided in connection with the sale of goods.”. © Management Study Guide The service triangle outlines all the relationships that exist between the company, the employees and the customers. Consider these examples of service marketing strategies: Anam Ahmed is a Toronto-based writer and editor with over a decade of experience helping small businesses and entrepreneurs reach new heights. If desired and adequate levels of service expectations are to be explained in case of London Underground and … Marketing Concept; The Marketing Concept, which is not to be confused with the overall topic of Marketing Concepts, is the first approach which can actually fulfill the needs of a marketing strategy: building profitable long-term relationships by maximizing value for the customer. Management Study Guide: The 7 P’s of Services Marketing, Management Study Guide: Services Marketing - Definition and Characteristics, Marketing-Schools.org: Services Marketing, Mission.org: 5 Marketing Practices for Your Service-Based Business, QuickBooks: 7 Tips for Marketing a Service Business. Retrouvez toutes les informations nécessaires pour vos études, votre master ou simplement par curiosité. Parasuraman et al (1991) divide customer service expectations into two levels: desired and adequate. The Service Concept: The service concept is the core of the service offering. For example, a person can purchase a handbag and then resell it to another consumer after using it. Internal marketing is the side of the triangle between your organization and your employees who provide your services to customers. This is compared with the intrinsic value that lies at the heart of a product, service, relationship, etc. In fact, the growth of the service sector has long been considered as indicative of a country’s economic progress. Description. The service marketing concept includes: If service businesses want to stand out in their competitive markets, it’s vital to use the three main characteristics of services and turn them into advantages. The world economy nowadays is increasingly characterized as a service economy. With the increasing prominence of services in the global economy, service marketing has become a subject that needs to be studied separately. People: People are a defining factor in a service delivery process, since a service is inseparable from the person providing it. Définitions Marketing » L'encyclopédie illustrée du marketing. 1 A service, on the other hand, cannot go through this process because it’s consumed as soon as it is created. One is the ‘products segment’ and the other one is the ‘services segment’. Are your offerings core services that are the main reason for any financial transactions for your business? The additional foundational components to service marketing are: When done correctly, service marketing offers businesses many benefits. Knowing this enables businesses to better market their services and differentiate themselves from others on the market. Hence services cannot be touched, held, tasted or smelt. The new service development process involves recognizing chances and opportunities in a fast changing technological environment. 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