Partha Sinha

Process followed for assignment writing. Challenges for Service Marketers;

Traditional Challenges. Modern Challenges. Emerging Challenges.

How to tackle the challenges.

Abstract
Small brief about the paper

Literature
Theory from books

Analysis/Findings
My Interpretation

Case/Example
Industry examples/cases

Conclusion
Concluding Remark

Intangibility: Cannot be seen or felt.

Example: A Portfolio manager has only empirical data to prove his words of service levels and not anything in substance.
Example, A pizza delivery boy may deliver pizza at your home in 20 minutes and also sometimes on 30th minute.

Inconsistency: Delivery of consistent quality

Inseparability: Customer and service provider need to be present at same time. Perishability: They can be transacted only.

GAPS Model

Accessing customers expectation & Marketers perception of customer expectation. Impacts operating expense planning.
Segmentation in services is a sophisticated issue

Accommodating fluctuating demand

Setting prices of services

Finding a balance between standardization versus customization

Depends on the sub-vertical.

4th Dimensional approach to management: Inclusive marketing (Creating brand advocates)

Suppliers Distributors Customer Employees Example: Dell Generated $6.5 million sales from twitter in 2010 78% of people trust recommendations of other consumers- AC Nielson; Trust in advertisement report, 2009.

Mass marketing becomes Niche marketing

Managing Social media:

Prosumer Concept:

Example; customer feedback forums over social media, complaints all are tracked and focused by service marketers to understand customers and their requirements. In 2011, Maruti Suzuki, Indias 20% revenue came from online leads.
Example: Om Logix, a marketing consultancy company has programmes such as Online Reputation Management to meet these challenges of organisations.

Managing interactive markets

Learn about the customers. Be Clear and Authentic. Careful Market mapping/Niche Marketing Create audience driven engagement programmes Make social media work for organization Honor Customer complaints ASAP. Challenges can be overcome by investment in:

Research and Development. Market research. Using Specialized consulting services.

Problem:

In 2011, HP focused engagement of commercial clients and to encourage business professionals to recommend HP products to their peers. So it in association with Linkedin affiliates programme, created a company page to engage professionals in business context. Cost: $600.
2,000 product recommendations in two weeks, 20,000 new followers on HP company page 5,00,000 Viral updates about HP products and services

Solution:

Quantified Results:

Communication network has grown manifold.

Internet penetration is growing

Customer expectation have changed the service marketing scenario rapidly. Therefore, being quick, on the toes, being flexible to changes in the markets, being alert to customer's voice, feedbacks etc. are the mantras of being successful in this challenging environment.