25-08-2017, 09:32 PM
MARKETING MIX OF SERVICE INDUSTRY
MARKETING MIX OF SERVICE INDUSTRY.docx (Size: 18.91 KB / Downloads: 29)
Product:
The product aspects of marketing deal with the specifications of the services, and how it relates to the end-user's needs and wants. The scope of a product generally includes supporting elements such as warranties, guarantees, and support.
People:
For service marketers, the core of the service element is the interaction between those providing services and the customer, which is known as service encounter. To achieve customer satisfaction appropriate processes are designed to ensure that the service encounter meets customer expectations. To deliver the satisfactory services, the employees of a company have to play an important role. Employees must possess personal qualities, ability to understand and satisfy customer needs, flexibility, skills and knowledge. Friendly and warm employees increase customer loyalty.
Place:
In service place refers to location and use of distribution channels. It is referring to the channel by which a service is sold (e.g. online vs. retail), which geographic region or industry, to which segment (young adults, families, business people), etc. also referring to how the environment in which the product is sold in can affect sales.
Process:
In Service Industry Process refers to how a service is provided and delivered to the customer. IT relies on processes to consistently deliver high quality solutions while executing a growing number of engagements from multiple locations. Values, vision and policies form the first level of our three-tiered process architecture. They are implemented through process execution at the next level. These processes are defined with clear ownership using the ETVX (Entry, Task, Verification, and Exit) paradigm and clearly defined roles and responsibilities.
Physical Evidence:
The environment in which the service is delivered and where the firm and the customers interact; and any tangible commodities that facilitate performance or communicate the service. Physical evidence enhances customer’s perception of quality.
Productivity:
Productivity refers to the success or failure of any business, so the quality of the product should be very good for his companies have different quality standards which are certified by the quality department and are approved all over the world. If one does not have approved quality standards then he develops its own to meet the quality that are demanded by the customers.
Price:
Software pricing strategy is price planning for a software firm takes into view
factors such as overall marketing objectives, consumer demand, product
attributes, competitors' pricing, and market and economic trends. When a firm launches a product, the pricing decision is one of the most critical decisions. Software pricing has been concentrated the internal business objectives of vendors such as costs, specified margins, and the competition.
On the marketing point of view, the goal of pricing strategy is to set a price that is the pecuniary equivalent of the value perceived by the customer in the product in order to meet the profit and achieve investment goals.
Promotion:
Over here, services and project consulting is through contract or agreement
between the parties and promotions are carried out only for the particular client selected as upgrading and extended service for a particular period, etc. : This includes advertising, sales promotion, publicity, and personal selling. Branding refers to the various methods of promoting the product, brand, or company.