Service Marketing

1. Discuss the various characteristics of services that make them unique from product. Briefly explain the implications of these characteristics in designing suitable Marketing Strategy for any two service offerings of your choice.

A. PRODUCT MARKETING

Product marketing deals with the first of the "4P"'s of MARKETING, which are PRODUCT, PRICING, PLACE, and PROMOTIONS. Product marketing, deals with more outbound MARKETING tasks. For example, product management deals with the nuts and bolts of PRODUCT DEVELOPMENT within a firm, whereas product marketing deals with marketing the PRODUCT to PROSPECTS CUSTOMERS, and others. EXAMPLE: LUX TOILET SOAP.

a. ROLE OF PRODUCT MARKETING

Product marketing in a business addresses five important strategic questions:

* What products will be offered?

* Who will be the target customers?

* How will the products reach those?

* How much the products should be priced?

* How to introduce the products?

We have to choose combinations of product marketing according to product say, LUX TOILET SOAP.

* Product has a ''unique advantage/benefits.

* Product offers the most competitive ''value for money''.

* Product is one of the affordable in the market for its range.

* Product distribution is matchless in the market, available at arm’s length.

* Product merchandising is the most attractive at the retail level.

B. SERVICE MARKETING

SERVICE IS ANY ACT OR PERFORMANCE THAT ONE PARTY CAN OFFER TO ANOTHER THAT IS ESSENTIALLY INTANGIBLE AND DOES NOT RESULT IN ANY OWNERSHIP

Services marketing are based on relationship and value. Marketing a service-base business is different from marketing a goods-base business. The major difference in the services marketing versus regular marketing is that instead of the traditional "4 P's," Product, Price, Place, Promotion, there are three additional "P's" consisting of People, Physical evidence, and Process. Service marketing also includes the...