Every businessperson knows that a good marketing strategy and marketing plan are essential to the success of their business. The marketing strategy outlines what you need to achieve and the marketing plan shows how you are going to achieve those goals by marketing your product or service. So what are the differences between product marketing and service marketing? Prior to this class I did not realize that there was a difference and after reading the textbook service marketing seems to be more challenging than product marketing.
The difference between service marketing and product marketing is marketing of intangible (goods and services) and tangible (goods). When you market a service you are marketing a relationship and the value of that …show more content…
Due to the large service market in the world, the following concepts and practices are vital in marketing a service. 1). Key differentiator(s) must be established in the marketing messaging i.e., distinguishing to retailers from each other, one may offer a no questions asked return policy while the other may impose restrictions. 2). Establishing relationship and value; creating trust leads to a long-term relationship with consumers who will reward you with their loyalty. 3) Customer retention. Receptive to customer feedback and recommendations can go a long way in today’s highly competitive market. Offering some type of customization to create customer satisfaction leading to higher customer retention (Lovelock, …show more content…
One never realizes what goes into establishing a service much less trying to create a business model and marketing strategy. There are definitely major advantages to establishing a business in the area that you are familiar with. The very thought of trying to figure out where to expand internationally made me panic, where would I even start? Fortunately, I have children and I’m in the process of relocating. The first idea that came to mind was what is the best place to raise a family? And that is how I started my research. Knowing that making the US News and World Report listings is a very big deal in the hospital that I work that was where my search began. Researching and studying culture never crossed my mind and the introduction to Geer Hofstede’s Cultural Dimensions was
The difference between service marketing and product marketing is marketing of intangible (goods and services) and tangible (goods). When you market a service you are marketing a relationship and the value of that …show more content…
Due to the large service market in the world, the following concepts and practices are vital in marketing a service. 1). Key differentiator(s) must be established in the marketing messaging i.e., distinguishing to retailers from each other, one may offer a no questions asked return policy while the other may impose restrictions. 2). Establishing relationship and value; creating trust leads to a long-term relationship with consumers who will reward you with their loyalty. 3) Customer retention. Receptive to customer feedback and recommendations can go a long way in today’s highly competitive market. Offering some type of customization to create customer satisfaction leading to higher customer retention (Lovelock, …show more content…
One never realizes what goes into establishing a service much less trying to create a business model and marketing strategy. There are definitely major advantages to establishing a business in the area that you are familiar with. The very thought of trying to figure out where to expand internationally made me panic, where would I even start? Fortunately, I have children and I’m in the process of relocating. The first idea that came to mind was what is the best place to raise a family? And that is how I started my research. Knowing that making the US News and World Report listings is a very big deal in the hospital that I work that was where my search began. Researching and studying culture never crossed my mind and the introduction to Geer Hofstede’s Cultural Dimensions was