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22 Cards in this Set
- Front
- Back
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Services are what % of Canada's economic output and workforce? |
70% of Economic Output 75 $ of Canada's workforce |
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4 Unique Elements to Services |
1. Intangibility 2. Inconsistency 3. Inseperability 4. Inventory |
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Intangibility |
can't be seen, held or touched before purchase decision |
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Inconsistency |
Inconsistent quality of service makes developing pricing, promotions and delivery of service challenging |
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Inseperability |
Inseperability of products and consumption - services are purchased and consumed at the same time |
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Inventory |
carrying costs are subjective and related to idle production capacity (service can be provided but there is no demand) |
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Gap Analysis - what part of purchase stage is this and what is it |
- post-purchase evaluation - evaluation tool that compares expectations of the service offering to the actual quality of the experience |
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Seven Ps of Marketing Services |
1. Product 2. Price 3. Place 4. Promotion 5. People 6. Physical Evidence 7. Process |
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Product - due to intangibility what do businesses rely on to distinguish themselves |
Design product concept with features and benefits desired by customers - relay on their brand or logo to distinguish themselves in the minds of consumers - strong brand names have easier time marketing new services |
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Price - potential indicator of ... |
Price can serve as indicator of quality of service |
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Place - why is this a major factor in service marketing strategy |
Place or distribution is major factor in a service-marketing strategy due to inseperability of the service from the producer - businesses open multiple locations - new tech advances have made services more accessible (ATMs, online banking) - electronic distribution has allowed for global reach for some services (travel & educ services) |
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Promotion |
Show consumers benefit of purchasing service - internet used as distribution channel and a an advertising promo medium |
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What are two important promotional tools for services |
1. Public Relations : event sponsorship, public service activities 2. Personal Selling - when customer buys service, they are also buying the person selling the service |
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People |
quality of service often judged by the performance of the people providing it |
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Internal Marketing (People) |
to serve customers well, employees must also be treated like valued customers. - need to select, train and motivate all employees to work together to provide a quality service, excellent customer experience and customer satisfaction |
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Physical Evidence |
All tangibles surrounding the service - building - landscaping - vehicles - furnishings - signage - brochures - equipment - social media |
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Impression/ Evidence Management |
managing the physical evidence carefully and systematically to convey proper impression of service to customer |
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Process |
What and how the service is created - procedures, mechanisms and flow of activities to create and deliver the service |
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Limited capacity |
fixed capacity to produce service |
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Capacity management |
make capacity as productive as possible without losing service quality - ex. off-peak pricing |
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Limited capacity in services due to ... |
the inseperability of the service from the provider ex patient need surgery, has to be in hospital and surgeon can only operate on one patient at a time |
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Off Peak Pricing: |
Charging different prices for different times of the day, month, season to reflect changes in demand for the service ex. Ealry bird dinner matinees discounted weekend travel |
