_____________ SERVICE SECTOR - CURRENT MARKETTING NATURE INTRODUCTION Services are deed process and performance. Service includes all economic activities whose output is not tangible. The world economy nowadays is increasingly characterized as service economy .As today more than 70% of world economies income and employment is contributed by services sector and p their major contribution to the GDP in developing countries. Service marketing refers to the marketing of services as against tangible
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Operations Management History The Role of Services in an economy Operations Management: Set of activities that create value in the form of goods and services‚ Timeline of OM: Crafts Manufacturing Industrial Revolution (1770 England): • Invention of steam engines‚ replaced human power • Started with textile industry • Increased use of refined coal Division of Labor (1776‚ Adam Smith) Standardized parts (1800‚ Eli Whitney)‚ interchangable parts Steam Ships (1807) Telegrapgh (1844
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Marketing Mix The elements of the Marketing Mix refer to the tools that will be employed in the marketing efforts of a product‚ service or concept‚ to a particular targeted or segmented group. If the right Marketing Mix is used‚ it will aim all of the company’s efforts at satisfying it’s customers at a profit or other notable success. A typical Marketing Mix includes “The four P’s”‚ which are product‚ price‚ promotion‚ place and sometimes people. Since consumers are surrounded by the controllable
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French-owned company that shared his vision. And the name braaap‚ well it was Brad’s nickname for years. “It’s the sound a motocross bike makes when it’s accelerating”‚ says Brad. 2.Identify the key characteristics of their products and service and their
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The Product Life Cycle is an important concept in marketing. It describes the stages a product goes through from when it was first thought of until it finally is removed from the market. Not all products reach this final stage. Some continue to grow and others rise and fall. The Introduction stage is means a period of slow sales growth as the product is intro-duced in the market. Profits are nonexistent because of the heavy expenses of product introduction. The Growth stage is means a period of
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THE MARKETING MIX Below is a table for you to apply the elements of marketing mix (7P’s) to your selected business organisation. Starbucks Product and service -Starbucks stores offer a choice of regular or decaffeinated coffee beverages‚ a special "coffee of the day‚" and a broad selection of Italian-style espresso drinks. In addition‚ customers could choose from a wide selection of fresh-roasted whole-bean coffees. When you walk into the Starbucks‚ you notice they are promoting specialty
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dated 16th March‚ 2012. Dear Sir/Madam‚ Subject: Union Budget 2012: Changes in Service Tax-reg. It is said that in matters relating to taxes‚ questions rarely change‚ but the answers do. Budget 2012 has‚ however‚ changed a number of questions relating to service tax. 2. No more will the most often-asked question “which taxable service is being provided?” be relevant; no more will an exporter be asked whether an input service has been used in export to claim a Cenvat refund; and no more will a host of
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The marketing mix is the combination of marketing activities that an organisation engages in so as to best meet the needs of its targeted market. Traditionally the marketing mix consisted of just 4 Ps with 3 extras; an example of marketing mix is Amazon. The most difficult task for any organization is creating an all-around environment which allows a group of customers to feel comfortable purchasing their products or services. The strategy requires the organization to determine the ideal products
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Title-Service Marketing in Health Sector of India Name-Kripal Singh Niranjan Introduction: - Services marketing typically refers to both business to consumer (B2C) and business to business (B2B) services‚ and includes marketing of services like telecommunications services‚ financial services‚ all types of hospitality services‚ car rental services‚ air travel‚ health care services and professional services. The range of approaches and expressions of a marketing idea developed with the hope that
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Marketing is a very complex concept that involves a detailed process. The types of strategies for marketing focus on a target audience and are directly related to what is known as the 4 P’s of the Marketing Mix. The Marketing Mix has been defined by many as the controllable variables a company puts together to satisfy its target market... If any parts of a Marketing Mix get out of balance‚ the target market will be insufficiently served. This model of the Marketing Mix was first introduced by Neil
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