7 Ps of Services Marketing Marketing services is different from marketing goods‚ and the marketing tools and practices developed for goods marketing are often not directly transferable to the marketing of services. There are several major differences‚ including: * 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 7 P’s product
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Product In case of services‚ the ‘product’ is intangible‚ heterogeneous and perishable. Moreover‚ its production and consumption are inseparable. Hence‚ there is scope for customizing the offering as per customer requirements and the actual customer encounter therefore assumes particular significance. However‚ too much customization would compromise the standard delivery of the service and adversely affect its quality. Hence particular care has to be taken in designing the service offering. Since
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Place Domino’s entered India in 1996 through a franchise agreement with Vam Bhartia Corp. The first outlet was opened in Delhi. With the overwhelming success of the first outlet‚ the company opened another outlet in Delhi. By 2000‚ Domino’s had a presence in all the major cities and towns in India. By March 2000‚ Domino’s opened 37 outlets all over India. Between April 2000 and February 2001‚ Domino’s set up 64 more outlets in India. Delhi had the maximum number of outlets – 17‚ followed by Mumbai
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MARKETING OF BANKING SERVICES. 1. Introduction. Bank Marketing. Why Bank Marketing. Features of Bank Marketing. Services. Characteristics of Services. Difference between Product and Services. 2. Marketing. Features. Marketing of Tools and Techniques. Marketing Mix in Banking. Growth of Service Market. Marketing Approach in Banks. 3. Justification for Marketing the Banking Services. Satisfaction of Customer Needs. Bank Marketing in the Indian Perspective. 4. Articles
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Marketing of Banking Services Marketing scope in banking sector should be considered under the service marketing framework. Performed marketing strategy is the case which is determination of the place of financial institutions on customers’ mind. Bank marketing does not only include service selling of the bank but also is the function which gets personality and image for bank on its customers’ mind. On the other hand‚ financial marketing is the function which relates uncongenitalies‚ differences
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People and Services Marketing ’People ’ as part of the marketing mix People are the most important element of any service or experience. Services tend to be produced and consumed at the same moment‚ and aspects of the customer experience are altered to meet the ’individual needs ’ of the person consuming it. Most of us can think of a situation where the personal service offered by individuals has made or tainted a tour‚ vacation or restaurant meal. Remember‚ people buy from people that they like
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SERVICE MARKETING IN BANKING SECTOR AND RECENT PERCEPTIONS IN MARKETING THOUGHTS OF SERVICES MARKETING IN BANKING Marketing approach in banking sector had taken significance after 1950 in western countries and then after 1980 in Turkey. New banking perceptiveness oriented toward market had influenced banks to create new market. Banks had started to perform marketing and planning techniques in banking in order to be able to offer their new services efficiently. Marketing scope in banking sector
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BANKING SERVICE MARKETING MIX SERVICE MARKETING MIX ELEMENT The service marketing mix comprises off the 7p’s. These include: * Product * Price * Place * Promotion * People * Process * Physical evidence. PRODUCT: 1. BANK PRODUCTS (A)DEPOSITS: savings‚ current‚ fixed etc. (B)ADVANCES: (1) FUND ORIENTED: a. Term loan‚ b. Clean loan‚ c. Bill discounting‚ d. Advances‚ e. Pre-shipment finance‚ f. Post-shipment finance‚ g. Secured and unsecured lines of credit
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[pic][pic]Services Marketing and the Extended Marketing Mix (7P’s) What is services marketing? A service is the action of doing something for someone or something. It is largely intangible (i.e. not material). A product is tangible (i.e. material) since you can touch it and own it. A service tends to be an experience that is consumed at the point where it is purchased‚ and cannot be owned since is quickly perishes. A person could go to a café one day and have excellent service‚ and then return
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TablesChapter One Introduction 4 1.1 Background of Chinese Internet service industry 5 1.2 Background of Tencent 7 1.3 The current events - Tencent VS 360 Safeguard 9 1.4 Scope‚ sources and methodology 10 Chapter Two: Literature Review 12 2.1 PEST analysis 12 2.2 SWOT 15 2.3 More on the difference and relationship between PEST and SWOT 16 2.4 Marketing Mix (4P) in Internet contexts 17 λ Products or services 19 λ Price 22 λ Place 24 λ Promotion 25 2.5 Porter’s
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