...Product and service marketing are fundamentally different A service, unlike products, is an action that one person can offer another that is intangible and does not result in ownership of a physical product. Different marketing tactics work better for services versus products. A business needs to develop marketing plans for both services and products. A few of the differences between service marketing and product marketing, when a business markets a service, they are actually marketing a relationship and value. This relationship and value needs to be marketed differently than if the business is marketing products. Another difference between marketing services and marketing products is that when a customer buys a service, the customer is buying something that is intangible, instead of a tangible product, like a television, phone, or a tablet computer. Also, a customers’ idea of a service is often times based on the reputation of a single person and not a brand or product. Instead of building a reputation based on the quality of several different products, a service reputation is built on how well a person delivers on the service offered. For example, how well a retirement fund manager does managing a stock portfolio. Lastly, it is relatively easy for a consumer to compare the quality of different products. It is easy to see if one television has a better picture than another side by side, or if on computer operates faster than another, or the quality of two different vehicles...
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...2.1 product and services marketing 3. Critically examine the winning strategy of Indigo Airlines which has recently posted net profit. Identify and evaluate the reasons for the failure of other Airlines. INDIGO AIRLINES Was an American airline headquartered in Chicago, Illinois. It is generally regarded as the world's first business jet airline. It was founded in 1997 by aviation veteran and University of Chicago graduate Matt Anderson business executive and Embry-Riddle Aeronautical University alumnus John N. Fenton and McKinsey consultant and MIT PhD Tom Svrcek. Its headquarters were first located in Chicago's Near North Side, and later at Chicago Midway Airport WINING STRATEGY OF INDIGO AIRLINES: Consumer response to Indigo was strong. The company held a perfect[clarification needed] safety record and delivered unusually[clarification needed] high on-time and flight completion performance. Its passenger repeat rate was nearly 100% and its revenue per passenger mile or yield, over $1.00. The company was actively followed by major media including The Wall Street Journal, The New York Times, the Financial Times, Fortune, Time, USA Today, CNN, CBS and ABC television and was featured in a 2001 Pulitzer Prize winning article in the Chicago Tribune.[citation needed] Indigo also became the object of organized lobbying from Congressman Steven Rothman of New Jersey (D-NJ9), who felt that Indigo represented unwelcome expansion at New Jersey's Teterboro Airport.[citation...
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...ANNAMALAI[pic]UNIVERSITY | | |DIRECTORATE OF DISTANCE EDUCATION | M.B.A. (marketing Management) FIRST YEAR ACADEMIC YEAR 2011 - 2012 ASSIGNMENT TOPICS THIS BOOKLET CONTAINS ASSIGNMENT TOPICS. STUDENTS ARE ASKED TO WRITE THE ASSIGNMENTS FOR EIGHT PAPERS AS PER INSTRUCTIONS. Last date for submission : 28-02-2012 Last date for submission : 15-03-2012 with late fee ` 300/- NOTE: 1. Assignments sent after 15-03-2012 will not be evaluated. 2. Assignments should be in the own hand writing of the student concerned and not type-written or printed or photocopied. 3. Assignments should be written on foolscap paper on one side only. 4. All assignments (with Enrolment number marked on the Top right hand corner on all pages) should be put in an envelop with superscription “MBA Assignments” and sent to The Director, Directorate of Distance Education, Annamalai University, Annamalainagar – 608 002 by Registered post. P.T.O. 5. No notice will be taken on assignments which are not properly filled in with Enrolment Number and the Title of the papers. 6. Students should send full set of assignments for all papers. Partial assignments will not be considered. ASSIGNMENT INSTRUCTIONS Write assignments on any TWO topics in each paper out of the FOUR. For each topic the answer should not exceed 15–pages. Each assignment carries 25 marks. (2 topics) ...
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..."information?" Before we can go very far, we need a definition of information goods and services, and that is a pretty controversial subject in itself. Here are some examples of the trade in information goods and services: 1. A newly invented machine is patented, and the patent is licensed to a company that plans to build and sell the machine. 2. A new edition of a best-selling travel guide is published. 3. A public library buys 3 copies of the travel guide to lend (free) to its patrons. 4. A financial advisor offers his clients advice and opinions about profitable investments in return for a commission on their investment transactions. 5. An investor consults a World-Wide Web page for the values of "leading economic indicators" (key economic statistics) supplied by the U. S. Commerce Department. There is no charge. 6. A collection of photographs of great paintings in world museums is put on CD-ROM and sold by a computer software company. 7. A record company publishes a boxed set of CD's with a digital recording of a recent performance of Mozart's "Marriage of Figaro," with Bryn Terfel singing the role of Figaro. The set includes the libretto of the opera. What these examples have in common is that information goods and services are being sold (or given away). For the purposes of our discussion, information goods and services share these properties: a) An information product is a collection of symbols. b) Its utility depends on the arrangement of the symbols...
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...Study “Chemical Distribution 2012“ - Results Dr. Matthias Hornke, LL.M. (M&A) Münster, February 2012 Matthias.Hornke@gmx.de Agenda Status Quo and Study Overview Results: Overview Results of the Online Survey Function/ Responsibility of the Respondent Role of Chemical Distributors Challenges and Key Success Factors of Chemical Distributors Classification of Respondents Contact: Grosse-Hornke Private Consult 1 Chemical distributors with growing relevance to chemical manufacturers and end-customers of chemical products Status Quo Chemical Distribution Economic recovery of the chemical distribution in 2010 and 2011 with record revenues of approx. €190bn generated by the German chemical industry in 2011 Growing relevance of chemical distributors as partners of the chemical manufacturers representing >10% of market share (in terms of revenues) for basic and special chemical products Increasing coverage of news about the chemical distribution in trade media as well as general business media stressing the economic relevance and development (e.g. M&As) in this industry ard trend tow continued f the distribution a “There is rcing o d outsou rers [to crease in manufactu sident hemical] Pre […] by [c n Zillmer, rs].” (Joh distributo nivar, 2010) ,U and CEO rowth ontinued g ss, D set on c “IMC ical Busine CIS Chem path.” (I 2011) n in the Distributio shifts up a gear “M&A Activity al Week, 2011) Sector.” (Chemic ...
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...Dynamics in a Product Market Author(s): José Antonio Rosa, Joseph F. Porac, Jelena Runser-Spanjol and Michael S. Saxon Source: Journal of Marketing, Vol. 63, Fundamental Issues and Directions for Marketing (1999), pp. 64-77 Published by: American Marketing Association Stable URL: http://www.jstor.org/stable/1252102 Accessed: 28-09-2015 11:20 UTC REFERENCES Linked references are available on JSTOR for this article: http://www.jstor.org/stable/1252102?seq=1&cid=pdf-reference#references_tab_contents You may need to log in to JSTOR to access the linked references. Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at http://www.jstor.org/page/ info/about/policies/terms.jsp JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org. American Marketing Association is collaborating with JSTOR to digitize, preserve and extend access to Journal of Marketing. http://www.jstor.org This content downloaded from 193.10.50.254 on Mon, 28 Sep 2015 11:20:14 UTC All use subject to JSTOR Terms and Conditions Jose Antonio Rosa, Joseph F. Porac, Jelena Runser-Spanjol, & Michael S. Saxon Dynamics in Sociocognitive Market Product a In this...
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...high-powered group that included the CEO, to discuss an important product program. Within this 80-year-old company, based in rural Jutland where local people might still consider you an outsider after 30 years, Sorensen would be very much the newcomer. Despite that, he would try to convince the others to adjust the firm’s successful design process—to change a winning game. In April 2006, Bang & Olufsen (B&O) sold a range of televisions, audio systems, loudspeakers, telephones, and other products (see Exhibit 1) in more than 60 countries. The company had a worldwide reputation for idea-based products of high quality and artistic design, many of which held places of honor in the permanent collections of the world’s greatest art museums. (According to a citation at the Museum of Modern Art in New York, B&O had “delivered the largest and most consistent design portfolio among the world’s industrial companies.”3) This level of accomplishment translated into high price points (see Exhibit 2) and profit margins, realized through an exclusive network of dealers, from devoted and discerning customers. To create products with appearance and functionality that made them instantly recognizable, the company had evolved unique design and development processes. B&O gave designers free reign to create new products that would challenge engineers to find a way to manufacture them. New ideas, materials, and technologies made their way into B&O products only if designers put...
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...University Vice president of product control, supervised purchase and product management departments’ directors: Nolan Gminski and Lisa Walters. Has two daughters, but don’t have enough time to spend with his family. Work hardly, spending 14 hours in working is common. Lisa Walters: Director of product. Before, was the IBM product manager for more than two years. Performed very well. Worked longer time than her colleagues. Never take lunch breaks. Kathryn McNeil: Master’s degree in education from Boston University, with a concentration in business. Is a single mother of a six-year-old boy. Work as IBM product manager 2. Describe the situation (key points) a) What led up to it? b) What is in play? 3. What is source of pressure for a decision? * There is three aspects, one is that Lisa gave pressure to him, she has complained about Kathryn several times, and Kathryn doesn’t do work well, her family has impacted her work. She missed the important meeting, missed the important report due date. * The other pressure is from Charles himself, he is a father of two daughters, he knows that spending time with his children is important and necessary. He can understand the Kathryn’s situation. And he knows Kathryn has done the best in her ability. And Kathryn is a hard working employee. * Another is Charles also need this job, and his bonus is relative to the sales of the products, relative to the Kathryn’s...
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...Resource Development (SCMHRD) Mahindra Holidays and Resorts Hospitality Industry 2011G31, Sandeep Karnawat, EXMBA 2011-14 Service Marketing Assignment -1 September 24, 2012 Contents Company 3 Domain Expertise 3 Mission 3 Vision 4 Business Model 4 7Ps of Service Marketing 5 Product 6 Place 7 Price 8 Promotion 8 People 9 Physical Evidence 10 Process 12 GAP Model of Service Quality 13 Customer Gap 13 Provider Gap 1, the Listening Gap 14 Provider Gap 2, the Service Design and Standards Gap 15 Provider Gap 3, the Service Performance Gap 16 Provider Gap 4, the Communication Gap 17 Bibliography 19 Company Mahindra Holidays & Resorts India Ltd., (MHRIL) is a part of the Leisure and Hospitality sector of the Mahindra Group and brings to the industry values such as Reliability, Trust and Customer Satisfaction. Started in 1996, the company’s flagship brand ‘Club Mahindra Holidays’, today has a fast growing customer base of over 147,000 members and 40 beautiful resorts at some of the most exotic locations in India and abroad. Domain Expertise Over the last decade, MHRIL has established itself as a market leader in the family holiday business. The company has followed a two pronged strategy – rapidly increasing its bouquet of resorts to provide more variety in holidaying options and enhancing its service levels to its members to provide delight at every point of interaction. All MHRIL resorts are totally geared to cater to a variety...
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...no-B50 What is a Service “A service is an activity or benefit that one party can offer to another that is essentially intangible and does not result is the ownership of anything. Its production may or may not be tied to a physical product.” Example- Education institute Internet service provider Health care service “A service is economic activity that creates value and provides benefits for customers at specific times and place” Economists have divided all industrial and economic activities into three main groups: primary, secondary, and tertiary. Primary activities include agriculture, fishing and forestry. Secondary activities cover manufacturing and construction; tertiary activities refer to the services and distribution. In the pre-industrialised era, primary activities were the mainstay of the economy. The Industrial Revolution marked the beginning of increasing importance of secondary activities and the gradually decreasing the status of agriculture and allied activities. The period following World War II saw USA become the world’s first ‘service economy’ with more than 50 per cent of the working population employed in producing services and today 80 per cent of the US economy is service-oriented. This led a New York Congressman to remark that America is becoming a nation of people who are “serving each other hamburgers or taking in each others’ laundry”. However, the US service industry is a very technical...
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...This assignment was undertaken to design a new service or redesign an existing one based upon our newly acquired services marketing expertise. To have a good understand about the Service Marketing subject we thought to design a new service organization hypothetically using the knowledge that we gathered over the last semester. It’s a restaurant with some modifications to the traditional way of doing a restaurant. Upon designing the service, we have analyzed the market segments, target markets, service marketing mix (7 P’s) and some services marketing concepts such as customer satisfaction and service quality, service flower, conceptual maps, service blue prints, etc. Basic details about the service organization that is designed. Industry- Fast Food Category- Restaurant Name - FAST & TASTE Logo - Vision - Provide the quality food at a reasonable price Mission - To ensure the best possible experience for the customer so they leave with a positive opinion about their experience. Slogan - Your 1st Choice Location – Nugegoda town Ownership- Sole ownership Target Marketing The market can be segmented into three target populations: • Individuals: people that dine in by themselves. • Families: a group of people, either friends or a group of nuclear relatives dining together. • Take out: people that prefer to eat food in their home or at a different location than the actual...
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...How can the marketing mix be used to effectively differentiate and position your product or service? What exactly is this Marketing Mix? Borden (ND) first coined the term following a discussion with one of his colleagues, Professor James Culliton, in 1948 regarding one of his manufacturing costs studies. In Bordens paper he identifies twelve pertinent points that form the marketing mix for manufacturers : Product Planning Pricing Branding Channels of Distribution Personal Selling Advertising Promotions Packaging Display Servicing Physical Handling Fact Finding and Analysis This was narrowed down around the 1960’s by Edmund Jerome McCarthy to the 4P’s which are used to this day. McCarthy et al (2002) state these as being : Product - the goods or services offered by an organisation that can satisfy the needs of the end customer. Place (Involves channels of distribution, logistics and distribution customer service) - essentially making the product available to the end customer. Promotion - providing the information to the potential customers so that can make an informed decision and, hopefully, make the purchase. Price - inclusive of all costs prior to reaching the end customer including transport overheads, margins etc, this is the price the customers pay for the goods. Differentiation of your product or service can take place within any of the 4P’s, From a Product point of view you may be offering one that outperforms the competition or has...
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...a) How has the development of self-service technologies affected services marketing strategies? Give TWO explanations. When developing a service marketing strategies we need to extend the marketing mix by adding three additional Ps associated with service delivery – process, physical environment and people. Collectively, the total seven elements of service marketing represent the ingredient required to create viable strategies for meeting customer needs profitable in a competitive marketplace. An important part of process designed is to define the role of customer should play in the production of services. Self-service technologies (SST) are part of the service marketing strategy as it is the service delivery “process”. Process refers to the design and management of customer service processes, including managing demand and capacity and related customer waits. Creating and delivering products elements requires design and implementation of effectives processes. With SST, customer is part of the co producer of the strategy, operational inputs and outputs tend to vary widely compare to manufactured goods and this has made customer service process management a challenge. For example, manufactures goods can be produced at a distance factory, under controlled condition, and check for quality before it reached the customer. For service however, it is delivered face to face and consumed as it is produced, this has make it difficult for service Besides that, SST also involved...
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...Services marketing are based on relationship and value. It can be used to service a market or product. Apart from the usual 4 ‘p’ – people, place, promotion & price, services marketing mix added an additional 3 more ‘p’ - people, physical environment, process. In Services marketing, The buyer purchases are intangible The service may be based on the reputation of a single person it's more difficult to compare the quality of similar services The buyer cannot return the service There are 4 different types of services characteristic namely • Intangible • Inseparability • Variability • Perishability Intangible - the service cannot be touched or viewed, so it is difficult for clients to tell in advance what they will be getting; Inseparability - the service is being produced at the same time that the client is receiving it (e.g. during an online search, or a legal consultation); Variability – services which involve people, as people are all different and so there is a possibility that they may answer enquiry differently or even the same person may answer enquiry differently at different time. Therefore it is important to minimize the differences in performance through training, quality assurance and etc. Perishability - unused capacity cannot be stored for future use. Using cars wash services as an example to describe the challenges faced. Firstly, since this service is intangible, the clients are unsure about what they will be getting or the benefit when they...
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...• Product • Price • Place • Promotion • People • Process • Physical evidence Persona Services marketing mix: 1. Product: persona sells everything that enhances beauty of both male and female. Persona has separate units for male and female customers: Persona Adams and Persona Beauty Parlor. Along with that Spring Spa and Gym ensures Beauty of face, body and mind. Various services designed and monitored by experts ensure maximum quality. Persona helps flourish natural beauty as well as provides make over opportunity and through Persona Studio, one can frame it. Canvus magazine will help the customers to learn and apply various fashion and beauty concepts. 2. Price: fo Persona applies value based pricing. It offers a range of services, starting from a minimum standard price. Customer segments are considered from middle income groups to high ends for Spring Spa. 3. Place: Persona selects the places in Dhanmondi 27, Mirpur, Banani and Gulshan in Dhaka and in Panchlaish of Chittangong. The places are very convenient for the target groups and are in prominent locations of the cities. 4. Promotion: * Persona is mainly promoted through word of mouth. It is well known to the beauty lovers of the city and the CEO Kaniz Almas Khan is a celebrity make up artist which makes persona a very trusted name. * However, in the early stages it had promotional offers in 1st Boishakh and ads published in newspaper. Nowadays the ad is no longer to the news paper,...
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