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Characteristics :
1. Intangibility
2. Inseperatability
3. Variability
4. Perish ability
5. Ownership
6. Service in Performance
7. Simultaneously
8. Quality measurement
9. Nature of Demand
Types of Services :
Classification of Services :-
1) By market segmentation
2) By degree of Tangibility
5) By degree of regulation
Service Marketing :-
1. Intangibility
3. No inventory
V. Customer/Employee interaction
Significance :
i) Creation and expansion of job opportunities
v) Environment-friendly technology
. Speedy response
Characteristics of CRM :
1. Share of customer
3. Customer equity
Need of CRM :
iii)Anticipates problem
Types of CRM :-
Building CRM :
i. Enquiry
ii. Interaction
iii.Exchange
iv. Co-ordination
v. Adoption
Importance of CRM :
3. Increase margins
Barriers of CRM :
3. Confusion in attributes
4. Problem in implementation
5. Building relationship
6. Customer dissatisfaction
7. Incapability
Service Quality :-
Perspective :
1) Transcendent approach
2) Product-based approach
3) User-based approach
4) Manufacturing based-approach
5) Value Based-approach
Dimensions of Quality :
a. Performance
b. Features
c. Reliability
d. Conformance
e. Durability
f. Serviceability
g. Aesthetics
Perceived Service
Company
Service Delivery External communication
Gap 4 to customers
Gap 3
Gap 1
Customer-driven Service
designs and standards
Gap 2
Company perception of
consumer expectation
Gap 1. Not knowing what customer expect
1. Tangibles dimensions
2. Reliability Dimensions
3. Responsiveness Dimension
4. Assurance Dimension
5. Empathy Dimension
1. Assurance
2. Empathy
3. Reliability
4. Responsiveness
5. Tangible
5. Zone of tolerance
Zone of Tolerance :-
As we discussed earlier, service are heterogeneous in that
performance may vary across providers, across employees from the
same provider, and even with the same service employee. The
extent to which customer recognize and are willing to accept the
variation is called the zone of tolerance and is shown in figure aside.
Advantage :
i) Customized service
ii) Multiple choices
iii)Best distribution Channel
iv)Cost effective
Bases of Segmentation :-
Before giving some brief explanations about these bases, it is
vital to understand that, in themselves they are not segments.
The following brief review to two ‘predetermined’ approaches
frequently used in market segmentation, products and services
and channels helps illustrate this point.
Segmentation
Approaches
Customer Customer
Characteristics Responses
3. Marital status
4. Income
5. Social class
6. Family Size
7. Occupation
8. Educational Level
9. Religion
1. Life Style
2. Personality
3. Attitude
4. Belief
5. Values
Bases :
Positioning of Service :-
Objective of Positioning :
vi. To give the target market the reason of buying your service and
then design the whole
strategy.
2. Identification if Attributes
UNIT – II
1. Product
2. Price
3. Promotion
4. place
1. People
2. Physical evidence
3. Process
1) Service product
2) Service pricing
3) Service promotion
4) Service distribution
5) People
6) Process of operation
7) Physical Evidence
Service Product :-
1. Statement of Objective
i) Negotiation
ii) Discounts
iii) Quality
I. Monetary Costs
a. Time cost
b. Search Cost
c. Convenience Cost
d. Psychological Cost
Pricing Objective :-
1. Profit Maximization
8. Operation-oriented objective
9. Patronage-oriented objective
Pricing Methods :-
1. Cost-based pricing
I. Cost of production
V. Marketing mix
VI. Positioning
Service Promotion :-
Characteristics :
Need of Promotion :
Types of Communication :
I. Internal Communicating – The communication which is
carried into the organization between their employees from top level to
the service level are comes under that category. This communication is
basically the best way of interaction regarding company’s overall
objective.
1. Technology
2. Budgetary Constraints
3. Content
4. Delivery
Promotion Mix :
Elements :
1. Advertising
2. Sales promotion
3. Public relations
4. Direct Marketing
5. Adventure marketing
6. Personal Selling
7. Corporate identity
8. Cause-related Marketing
Service Distribution :-
Distribution Place :
1. Location
3. Channel of Distribution
4. Service Inventory
5. Managing Channels
People :-
4. Recovery services
III. Empowerment
Process of Operations :-
3. Service itself
4. High-contact
5. Degree of standardization
Delivery of Service :-
2. Legged Effect
5. Level of Aggregation
UNIT – III
Marketing of Financial Service :-
Characteristics :
1. Intangibility
2. Inseperatibility
3. Variability
4. Perish ability
Perspective I :
I. Functional Quality
Perspective II :
I. Reliability
II. Assurance
III. Tangible
IV. Empathy
V. Responsiveness
a. Overall satisfaction
1. Demographic
2. Psychographic
3. Behavioral segmenting
1. Prime Customers
4. Prime Prospects
5. Middle Majority
6. Price Shoppers
8. No Frills
9. Social Responsibilities
Banking Marketing :
i) Product
ii) Price
iii) Promotion
iv) Place
v) People
vi) Process
Insurance Marketing
Telecom Services
Home Loan
Credit Cards
UNIT – IV
v) Competitive advantage
1. Producer Service
2. Consumer Service
4. Outward Expansion
i) Protectionism
iii) Competition
iv) Protection of Intellectual Property
v) Cultural barriers
Recent Trends :-
1. Market drivers
2. Competition Drivers
3. Technology Drivers
4. Cost Drivers
5. Government Drivers
1. Parameters
Service Strategy :-
c. Global location
d. Global marketing
Foreign Market entry Decision : One of the most crucial steps a firm or
organization ever takes is the decision to introduce a product a service
to a foreign market. Having made the decision to venture into world
market, the next crucial step is determining the foreign market entry
strategy.
b. Exporting
c. Trading company
d. Piggy-back
e. Agent
f. Distributor
g. Licensing
h. Industrial Co-operation
i. Joint venture