Services Marketing. Strategies for Marketing Services Strategies for dealing with intangibility ...

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Transcript of Services Marketing. Strategies for Marketing Services Strategies for dealing with intangibility ...

  • Services Marketing

  • Strategies for Marketing Services Strategies for dealing with intangibilityStrategies for dealing with inventory Strategies for dealing with inconsistency Strategies for dealing with inseparability

  • Strategies for IntangibilityTangiblising the service offerVisualisationAssociationPhysical RepresentationDocumentationPeoplePlace

  • Strategies for IntangibilityTangiblising through PositioningTangiblisation through Promotion Taniblisation through Physical Evidence

  • Strategies for InventoryDemand ManagementManaging Marketing Mix and DemandCommunicating the CustomersTiming and Location of Service DeliveryPrice AdjustmentsTime ManagementStaff ManagementFacility & Equipment Management

  • Strategies for InconsistencyProcess ManagementPeople ManagementUse of Technology

  • Strategies for InseparabilityBuild Membership RelationshipPersonalise the ServiceProvide Sensitivity training

  • Customer RetentionCustomer Retention refers to focusing the firms marketing efforts toward the existing customer base.In contrast of seeking new customers, firm engaged in customer retention efforts work to satisfy existing customers with the intent of developing long-term relationships between the firm and its current clientele

  • Importance of Customer RetentionStagnation in the marketsIncrease in CompetitionRising costs of MarketingChanges in Channels of DistributionChanging Customer

  • Benefits of Customer RetentionProfits derived from salesProfits from reduced Operating CostsProfits from Referrals

  • Customer Retention TacticsMaintain Proper PerspectiveRemember Customers between CallsBuild Trusting RelationshipsMonitor the Service Delivery ProcessProperly Install Equipment and Train Customers in using the serviceBe there when you are needed the mostProvide discretionary effort

  • Emerging Customer Retention ProgramsFrequency MarketingMarketing technique that strives to make existing customers purchase more often from the same provider.Relationship MarketingMarketing technique based on developing long-term relationships with customers

  • Emerging Customer Retention ProgramsAftermarketingMarketing techniques that emphasizes marketing after the initial sale has been made.Service Guarantees

  • The Services Marketing Triangle Internal MarketingInteractive MarketingExternal MarketingCompany(Management)CustomersEmployeesenabling thepromisedelivering the promisesetting thepromise Source: Adapted from Mary Jo Bitner, Christian Gronroos, and Philip Kotler

  • The Services Marketing TriangleExternal Marketing : "Setting the Promise" Marketing to END-USERS. Involves pricing strategy, promotional activities, and all communication with customers. Performed to capture the attention of the market, and arouse interest in the service.

  • The Services Marketing TriangleInternal Marketing : "Enabling the Promise" Marketing to EMPLOYEES. Involves training, motivational, and teamwork programs, and all communication with employees. Performed to enable employees to perform the service effectively, and keep up the promise made to the customer.

  • The Services Marketing TriangleInteractive Marketing : (Moment of Truth, Service Encounter) This refers to the decisive moment of interaction between the front-office employees and customers, i.e. delivery of service. This step is of utmost importance, because if the employee falters at this level, all prior efforts made towards establishing a relationship with the customer, would be wasted.

  • Relationship Marketing

    A long term strategy to build relationship with individual customers

  • DefinitionRelationship marketing was first defined as a form of marketing developed from direct response marketing campaigns which emphasizes customer retention and satisfaction, rather than a dominant focus on sales transactions