service sector management
TRANSCRIPT
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SERVICE SECTOR MANAGEMENT
Yasmin S
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What is services?
Service is any act or performance that one party can offer to another that is essentially intangible and does not result in any ownership of anything. Its production may or may not be tied to physical products..Philip Kotler
Services marketing is marketing based on relationship and value. It may be used to market a service or a product
There are no such thing as service industries. There are only industries whose service components are greater or less than those of other industries. Everybody is in service.” Theodore Levitt-
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What is a service?
It is intangible. It does not result in ownership. It may or may not be attached with a
physical product
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Difference between physical goods and servicesPhysical goods Services
tangible intangible
homogeneous heterogeneous
Production and distribution are separated from consumption
Production, distribution and consumption are simultaneous processes
A thing An activity or process
Core value processed in factory Core value produced in the buyer-seller interaction
Customers do not participate in the production process
Customers participate in production
Can be kept in stock Cannot be kept in stock
Transfer of ownership No transfer of ownership
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Characteristics of Service Sector Intangibility Perish ability Inseparability Heterogeneity Ownership Quality measurement Nature of demand
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Reasons behind the growth of the Service Industry Increasing affluence More leisure time Higher percentage of working women Complex products Complexity of life
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Service Marketing Triangle
SSM An Indian Perspective C. Bhattacharjee
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Moment of Truth (MOT)
Service encounter is known as MOT “any episode in which the customer
comes in contact with the organization and gets an impression of the quality of its services”
Eg. A rude employees behavior makes the customer conclude that he is dealing with a rude company.
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Marketing Challenges of Services
Intangibility Services cannot be stored Trust building Brand management Competition Physical evidence Marketing and sales loose
momentum
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Business Environment
Internal environmentExternal environment
Micro EnvironmentMacro Environment
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Service Marketing Environment
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Micro Environment
Corporate Resources Customers Suppliers Competitors Marketing intermediaries
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Macro Environment
Economic environment1. Industrial policy2. Trade policy3. Foreign exchange policy4. Fiscal policy5. Monetary policy6. Foreign investment and technology policy
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Macro Environment ctnd….
Political environment Legal/ regulatory environment Technological environment Socio-cultural environment
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PEST Analysis
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Porters Five Force Model