...CHAPTER 1 Understanding Services Marketing True-False Questions |Ans: T |1. T F Compared to physical goods, services are the dominant economic activity in developed | |Page: 6 |countries around the world. | |Ans: T |2. T F A service is defined as a performance. | |Page: 7 | | |Ans: F |3. T F Services marketing is identical to goods marketing. | |Page: 8-9 | | |Ans: T |4. T F Distinguishing service and physical goods along a continuum from intangible dominant | |Page: 8-9 |services to tangible dominant physical goods is a good way to differentiate services | | |marketing from goods marketing. | |Ans: T |5. T F The proportion of tangibles to intangibles in a product determines whether it is a | |Page: 8-9 ...
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...The Four Service Marketing Myths Remnants of a Goods-Based, Manufacturing Model Stephen L. Vargo University of Maryland Robert F. Lusch Texas Christian University Marketing was originally built on a goods-centered, manufacturing-based model of economic exchange developed during the Industrial Revolution. Since its beginning, marketing has been broadening its perspective to include the exchange of more than manufactured goods. The subdiscipline of service marketing has emerged to address much of this broadened perspective, but it is built on the same goods and manufacturing-based model. The influence of this model is evident in the prototypical characteristics that have been identified as distinguishing services from goods—intangibility, inseparability, heterogeneity, and perishability. The authors argue that these characteristics (a) do not distinguish services from goods, (b) only have meaning from a manufacturing perspective, and (c) imply inappropriate normative strategies. They suggest that advances made by service scholars can provide a foundation for a more service-dominant view of all exchange from which more appropriate normative strategies can be developed for all of marketing. Keywords: service; goods; intangibility; inseparability; heterogeneity; perishability Early marketing thought was built on a foundation of goods marketing, essentially the distribution and monetized exchange of manufactured output. Since marketing grew out of economic science, with...
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...1. Introduction Services’ marketing is a sub field of marketing which covers the marketing of both goods and services. Goods marketing include the marketing of fast moving consumer goods (FMCG) and durables. Services marketing typically refer to the marketing of both business to consumer and business to business services. Common examples of service marketing are found in telecommunications, air travel, health care, financial services, all types of hospitality services, car rental services, and professional services. Services are economic activities, rather than tangible products, offered by one party to another. Rendering a service to recipients, objects, or other assets depends on a time-sensitive performance to bring about the desired result. In exchange for money, time, and effort, service customers expect value from access to goods, labor, professional skills, facilities, networks, and systems; but they do not normally take ownership of any of the physical elements involved. Services’ marketing is a form of marketing that focuses on selling services. They can be tricky to sell, and the marketing approach for them is much different than the approach for products. Some companies offer both products and services and must use a mixture of styles; for example, a store that sells computers also tends to also help people select computers and provide computer repair. Such a store must market both its products and the supporting services it offers to appeal to customers. 1.1 Origin...
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...MKT 500 Assignment 2 Marketing Products(5 pages APA with references) Get Tutorial by Clicking on the link below or Copy Paste Link in Your Browser https://hwguiders.com/downloads/mkt-500-assignment-2-marketing-products5-pages-apa-references/ For More Courses and Exams use this form ( http://hwguiders.com/contact-us/ ) Feel Free to Search your Class through Our Product Categories or From Our Search Bar (http://hwguiders.com/ ) Discuss the type of product the company will offer and identify its primary characteristics. Discuss the service component of the product and how it will be used to enhance the product. Explain how the product could be expanded to a product line, and the depth and breadth of the line. Determine how the core business may change in response to industry or market changes MKT 500 Assignment 2 Marketing Products(5 pages APA with references) Get Tutorial by Clicking on the link below or Copy Paste Link in Your Browser https://hwguiders.com/downloads/mkt-500-assignment-2-marketing-products5-pages-apa-references/ For More Courses and Exams use this form ( http://hwguiders.com/contact-us/ ) Feel Free to Search your Class through Our Product Categories or From Our Search Bar (http://hwguiders.com/ ) Discuss the type of product the company will offer and identify its primary characteristics. Discuss the service component of the product and how it will be used to enhance the product. Explain how the product...
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...Demographic, Geographic, Psychological and Behavioral Characteristics Terry D. Smith II Colorado Technical University Dr. Laura Pogue Applied Managerial Marketing December 3, 2013 Demographic, Geographic, Psychological and Behavioral Characteristics TO: Michelle Dietrich, President of Mobile Manufacturing, Inc. FROM: Terry D. Smith II, Founder of Marketing Consulting LLC. DATE: December 3, 2013 SUBJECT: Demographic, Geographic, Psychological and Behavioral Characteristics The demographic characteristics of my target market are individuals between 12 and 21. It is wise to target these individuals because they are the most energetic, the least frugal of all age ranges, and the other age ranges watch, learn from and sometimes purchase products for this age group. These consumers will serve as customers and word-of-mouth promoters. Demographic characteristics are important because if a marketer can learn more about consumer demographic characteristics, the message can be made more direct to a target market in order to become more effective (Colorado Technical University, 2013). Demographic characteristics define the target market. No marketer can afford to target every consumer (Porta, 2010). Knowing certain demographic characteristics allows marketers to identify a target market. Targeting a specific market allows businesses to compete effectively. My target market is located in economies where consumers are able to afford a monthly cellular phone payment. These economies...
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...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. Service has a number of unique characteristics that make them so different from products. Some of the most commonly accepted characteristic are: • Intangibility • Inseparability • Heterogeneity • Perishable • Ownership In tangibility When you buy a cake of soap, you can see , feel , touch ,smell and is to check its effectiveness in cleaning. But when you pay fees for a term in college, you are paying for the benefit of deriving knowledge and education which is delivered to you by teachers. In contrast to the soap where you can immediately check its benefits. Teaching is an intangible service. When you travel by aeroplane, the benefit, which you are deriving, is a service but it has some tangible aspects such as the particular plane in which you fly. In this case the service has both a tangible and intangible aspect as compared to teaching which has no tangible aspects at all. Figure 1 presents the tangible - intangible dominant aspect on a goods- service continuum. This continuum highlights the fact that most services are in reality a combination of product and service having both tangible and in tangible aspects. There are only a few truly pure tangible products or pure intangible services. "Breaking Free from Product Marketing" Journal of Marketing ...
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...This assignment will explain the process of market segmentation, the characteristics that make a strong market segment, the different types of segments that are recognised by businesses. As well as this it will explain how market segmentation can help develop a marketing strategy and what the advantages and disadvantages in doing this are. Targeting and positioning within market segments will also be discussed. Mass marketing occurs when a company treats all their potential customers as one homogenous group having the same needs and characteristics. This is done by using the same marketing mix on all customers. This can be beneficial to smaller companies as economies of scale can be gained by mass producing promotional documents such as leaflets. Large firms are able to benefit more from economies of scale as they can purchase leaflets and newspaper advertising space in bigger quantities than smaller businesses. However, for many, this is not an option, customer preferences differ so much that mass marketing will cost more that it would save, as the wrong people are being informed of the product. Market segmentation needs to be implemented. Market segmentation is a process by which business separate groups of people within the market based on their personal characteristics. “A set of variables or characteristics used to assign potential customers to homogeneous groups” (M.Wedel, 2000). The most popular ways for businesses to segment their customers are geographically, demographically...
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...Marketing in the Hospitality/Tourism organisation INTRODUCTION Key concepts of marketing are: Need, Wish and Demand. Need: represents a requirement born in human nature or in social life (restricted).Wish: Means favoured by the consumer to satisfy a need (limitless). Demand: is the Behaviour of consumption of a product or a service to answer wish aiming at satisfying the need supported by the power of purchase. Let us keep that marketing does not create the need. On the other hand, it provokes wish for a product or a service which can answer the one - or even several - basic needs. If the number of needs is restricted, the number of wishes is infinite. It is the reason for which all imagination is associated to the product and to its functional characteristics is essential: one speaks about symbolic envelope which transcends the product itself. In marketing sense, a product is any entity likely to satisfy a need or a wish. It can therefore be: an object, a service, an activity, a place, a human being, an organization, an idea, etc... When a need meets the characteristics of a product or service, the benefit can be functional or symbolic. Examples: Functional benefit: « An apparatus autofocus (characteristics) allows achieving photographs every time (functional benefit); the presence of fluorine in a dentifrice (characteristics) allows not having teeth decays, not to suffer and to economize some silver (functional benefits) ». Symbolism benefit: « The wooden presence on the...
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...useful business tool to identity new and expanded ways to improve services and enhance revenues. These tool identities unique subsets of the population to target for specialized services and marketing initiatives. Market Segmentation of Healthcare Organization At Sentara the market is segmented into three major categories: demographic characteristics, disease categories, and geographic location. The main focus is on demographic segmentation which is aimed at targeting services for certain socioeconomic characteristics such as gender, age, or cultural/ethnic background (Anniston, 2012). Target Marketing Woman’s Health This facility has implemented several initiatives over the last decade which forms their strategies that target women. There is a lack of focused care for women in the Hampton Roads region and Sentara has put itself into a position to market and fill this deficiency. It has become increasingly relevant to the marketing team at this facility because capturing the female patient also means influencing the vast majority of health care decisions made for families and women use health services more frequently than men (Anniston, 2012). Most women are dissatisfied with how they receive care, which is often in settings that does not support the unique aspects of care for women (Milliken, 2011). Significant opportunity exists to develop services targeting women, and even to certain age specific groups within this...
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...BSB51215 Diploma of Marketing Queensford College COMPLETE ASSESSMENT DOCUMENT BSB51215 Diploma of Marketing BSBMKG502 Establish and adjust marketing mix Assessments are to be completed and then submitted in Moodle (ensure you “submit” – not just “save”) “Specifications” lists the only requirements ROLE-PLAYS Any student able to attend in class The assignment submission is to be done in the normal manner with the following statement completed for the relevant section about the role play>>> “Part .... I performed the role of ....................... in a role play on ..........(date) .......and it was assessed by ......................(name of assessor)......................” Any student UNABLE to attend in class May (a) use Skype conferencing (or any other video conferencing tool available to the candidate); (b) video the role-play and submit electronically; or (c ) Write out the ENTIRE DIALOG that would take place during the role-play eg Customer: “I work as a buyer for ...” Mary: “I understand ...” Customer “A few...” . PRESENTATIONS All presentations are to be made in Powerpoint. They should be presented in class. Any student UNABLE to attend in class May complete the Powerpoint slides as would be used and include in the assignment submission the following statement completed for the relevant section about the presentation: “Part .... I performed the presentation on ..........(date) .......and it was assessed by ...................... (name ...
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...Chapter 2 Goods, Products and Services Glenn Parry, Linda Newnes, and Xiaoxi Huang 2.1 Introduction Defining terminology is a useful starting point when reading or writing on the subject of service to prevent any confusion or assumptions that we all understand the terms to mean the same thing. So, what do we mean by goods, products and services? This is a book about service, but what is a ‘service’ and how is it different to ‘goods’ or ‘products’? Whilst most people intuitively know the difference between a product and service, actually defining this difference with clarity and accuracy of text is not straight forward. The terms ‘goods’ and ‘products’ appear to be used interchangeably in much of the literature, but even here we can find debate about meaning (Araujo and Spring 2006; Callon 1991, 2002). However, for the sake of brevity we will here accept that they both refer to the same thing and focus on attempts to differentiate goods and services. This quest is far from straightforward. Since the early eighteenth century academics and scholars from different domains have attempted to define these terms explicitly (Say 1803; Levitt 1981; Hill 1999; Gadrey 2000). In this chapter we will attempt to illustrate their findings in order to provide some background to the debate. 2.2 Goods In the eighteenth century Adam Smith (1776) stated that goods have exchangeable value and so a characteristic of a good is that its ownership rights can be established and exchanged...
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...DOAN NGOC HA DEMAND CREATION OF ONLINE SERVICES FOR B2B AND CONSUMER MARKET – FOOD DELIVERY IN VIETNAM Master of Science Thesis Prof. Olavi Uusitalo has been appointed as the examiner at the Council Meeting of the Faculty of Business and Technology Management on January 9th, 2013. ABSTRACT TAMPERE UNIVERSITY OF TECHNOLOGY Master’s Degree Programme in Business and Technology Management DOAN NGOC, HA: Demand creation of online services for B2B and consumer market – Food delivery in Vietnam Master of Science Thesis, 75 pages, 4 appendices (4 pages) January 2013 Major: Industrial management Examiner(s): Professor Olavi Uusitalo Keywords: online service, customer demand, B2B and consumer market, online marketing, food delivery The evolution of the Internet and the dynamic of the economy nowadays have created opportunities for young companies to enter the online market. The source of these opportunities comes from the changes of customer behavior as they get used to the digital world. New Internet-based products and services are created to offer more and more benefits to customers. Interestingly, the dynamic of the market does not only come from the changes of customer behavior but also from the fast development of technology and innovative ideas. Successful products and services even shape the behavior of customer in using Internet. It can listed here the famous examples of Amazon in changing online purchasing behavior of customer or Facebook in changing the way people communicate...
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...Basics and Perspectives of Sports Marketing Table of contents Index of figures ........................................................................................................ III 1. Differentiation and evolution of dedicated sports marketing ........................... 1 1.1. Historical development and modern definitions ............................................... 1 1.1.1. Historical development ........................................................................... 1 1.1.2. A broader definition ............................................................................ 3 1.2. Distinctiveness of the sports market compared to traditional markets ............. 3 1.2.1. Characteristics of the sports market ................................................... 4 1.2.2. Characteristics of the sports product .................................................. 4 1.2.3. Characteristics of the sports consumer .............................................. 5 2. Defining a marketing mix ..................................................................................... 5 2.1. Analysis phase and market segmentation ....................................................... 5 2.2.1. The traditional four p’s ........................................................................ 8 2.2.2. Additional domains of sports marketing ............................................. 9 3. Current Developments and future perspectives ............................................
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...PRINCIPLES OF MARKETING BCOM (HONS) RISK MANAGEMENT AND INSURANCE BA ISAGO UNIVERSITY COLLEGE PRINCIPLES OF MARKETING CBU 1209 EFFECTIVE USE OF MARKETING MIX TO GAIN COMPETITIVE ADVANTAGE A marketing mix is a business tool used in marketing to describe the different kinds of choices organizations have to make in the whole process of bringing a product or service to the market. It is a combination of tactics used by a business to achieve its objectives by marketing its products or services effectively to a particular customer group. The marketing mix is traditionally referred to as the 4P’s namely; Product, Price, Promotion and Place, but later graduated to being called the 7p’s with an additional People, Process, and Physical Evidence (Londre 2010). These last three are sometimes referred to as the "soft elements" of the mix and are regarded as being relevant to internal rather than external aspects of the organisation, although they are all relevant to the customer (Londre 2010). For a business to effectively survive and make profit, they need to make sure that they are marketing; the right product; to the right person at; the right price in; the right place, and at the right time. For example; if one manufactures pens, and the target market is school children, then it would be appropriate to market coloured ballpoint pens (product) at a lower price (price), selling them through newsagents and stationers (place), and promoting them through point of sale...
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...Building a Marketing Plan Step-By-Step Guide to Building a Marketing Plan KapConsultants By Sean Doyle and Martin McDermott AB/MT219: Marketing 6/20/2012 Disclaimer: The organization and characters depicted in this exercise are fictional. Any resemblance to real organizations or individuals is purely coincidental. Page 1 Step-By-Step Guide: Building a Marketing Plan Marketing Plan Manual The marketing plan is an integral part of an organizations’ strategy for success. The overall goal of a Marketing Plan is to ensure the business will be profitable. The marketing planning process involves building a strategy for getting products and services to market in a meaningful, cost effective, and profitable way. This manual provides an outline of a basic Marketing Plan, using a descriptive format to guide the development of your final project. Pay close attention to the layout of the marketing plan outline. You will need to format your marketing plan using the same format. Marketing is an all-encompassing discipline, and quite literally, affects every aspect of a business. In fact, marketing has a profound impact on society as a whole, and the life of every individual. For this reason, learning the fundamentals of marketing and how to develop a basic marketing plan is essential to your success as a business professional and savvy consumer. The marketing planning process consists of a set of activities centred on delivering a quality product or service, intended...
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