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Bmw Five Forces Model

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Services are products that are intangible and that are exchanged directly from producer to customer without ownership rights. Or Services are acts, efforts or performances exchanged from producer to user without ownership rights (Solomon, et, al. 2009). Services 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 which sells computers also tends to offer services such as helping people select computers and providing computer repair. Such a store must market both its products and the supporting services it offers to appeal to customers.

When people market services, the goal is not to get customers to buy a product, but to get people to do business with a particular company, often in a specific location. For example, a restaurant offers a service: It provides food to customers, both on-site and in to-go form in many cases. When the restaurant markets itself, it must convince people that it is preferable to other restaurants and that its facility is worth the trip.

As with the marketing of products, the marketing of services covers issues like what is being offered, what the price point is, how it compares to similar things, and why people should choose that particular iteration over other options. With services, which are often intangible in nature, consumers must also be convinced through services marketing that the service is something they need which will have some sort of benefit. For example, most of the commonly used business services include vehicle leasing computer technology services, insurance, security, legal advice, food services, consulting, cleaning and maintenance. In addition, businesses also purchase some of the same services as consumers, such as utilities, telecommunications and travel.

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