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Questions and Answers
What characteristic of services means they cannot be stored or inventoried?
What characteristic of services means they cannot be stored or inventoried?
Services are considered tangible products that can be stored for future use.
Services are considered tangible products that can be stored for future use.
False
Name one challenge that marketers face when dealing with services.
Name one challenge that marketers face when dealing with services.
Managing service quality
Search goods are items that can be evaluated ________ purchase or consumption.
Search goods are items that can be evaluated ________ purchase or consumption.
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Match the following types of goods with their definitions:
Match the following types of goods with their definitions:
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What are the stages included in the process of services marketing?
What are the stages included in the process of services marketing?
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Services can be physically touched and held.
Services can be physically touched and held.
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What does the 'expanded marketing mix' for services consist of?
What does the 'expanded marketing mix' for services consist of?
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A service encounter is defined as the duration in which a customer interacts with a _____ .
A service encounter is defined as the duration in which a customer interacts with a _____ .
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Match the following characteristics of services with their descriptions:
Match the following characteristics of services with their descriptions:
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Study Notes
Services Marketing Overview
- Services marketing emerged as a distinct field in the early 1980s.
- Services marketing strategies differ from physical goods due to unique characteristics.
- Services marketing encompasses both business-to-consumer (B2C) and business-to-business (B2B) services.
- Services marketing involves organizational processes to identify, create, communicate, deliver value to customers, and manage customer relationships.
- The services marketing process encompasses designing, delivering, and evaluating stages to enhance customer satisfaction.
- Customers seek value and benefits from their experiences.
Key Characteristics of Services
- Intangibility: Services lack a physical form, making evaluation challenging before consumption.
- Inseparability: Production and consumption occur simultaneously, making high-contact interactions critical.
- Perishability: Services cannot be stored or inventoried, leading to challenges in managing demand fluctuations.
- Variability: Service quality varies significantly depending on the service provider and customer interaction.
7 Ps of Services Marketing
- Product: Intangible offering, often needing customization.
- Price: More complex than goods pricing, considering raw materials, labor, expertise, and consumer perception.
- Place: Service delivery location is crucial due to inseparability.
- Promotion: Crucial to attract customers in segments with comparable services; heavily reliant on advertising and public relations.
- People: Service providers and employees play a critical role in delivering the service experience.
- Process: The process delivery must be standardized to ensure consistent service quality.
- Physical Evidence: Services must create tangibility via facilities, materials, or other physical cues.
Types of Goods and Services Classification
- Search Goods: Evaluated before purchase (e.g., clothing, office supplies).
- Experience Goods: Evaluated after purchase (e.g., restaurants, entertainment).
- Credence Goods: Difficult to evaluate even after consumption (e.g., medical services, legal advice).
- Free Goods: Unlimited supply, zero opportunity cost.
- Economic Goods: Limited supply; can be either private or public goods.
- Public Goods: Non-excludable and non-rejectable (e.g., public parks, national defense).
- Private Goods: Bought and consumed individually (e.g., food, clothing, transportation).
Customer Behavior and Service Marketing
- Customer retention: Critical in today's competitive market, involving service delivery processes and feedback.
- Customer needs and expectations: Service marketers must understand and adapt to changing customer needs and preferences.
- Service encounter: Each interaction between employee and customer impacts overall experience.
Service Marketing Triangle
- The triangle model highlights the interrelationships among the company, employees, and customers in all aspects of service delivery.
- It underscores the importance of internal and external marketing and interactive marketing.
- Internal Marketing: focusing on employees to satisfy their needs for better service quality.
- External Marketing: communicating with potential customers.
- Interactive Marketing: the interaction between employees and customers.
Factors Influencing Consumer Behavior
- Situational factors: Time pressure, atmosphere of the service outlet, occasion of purchase.
- Socio-cultural factors: Culture, social class, family, reference groups influencing consumer behavior.
- Psychological factors: Perception, attitude, motivation affecting how customers perceive and react to service offerings.
- Personal factors: Personality, lifestyle, demographics shaping service preferences and buying decisions.
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Description
This quiz explores the fundamentals of services marketing, a distinct field that emerged in the 1980s. It highlights key characteristics such as intangibility, inseparability, and perishability, while also examining strategies for B2C and B2B services. Test your understanding of how organizations create and deliver value to customers.
