Welcome to this comprehensive collection of lecture notes on marketing strategy MKT 401 in UniMannheim! These notes cover a wide range of essential concepts and techniques, including target market segmentation, the marketing mix, SWOT analysis, competitive analysis, customer personas, brand messagi...
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MKT 401 – Lecture Notes
Chapter 10
10. Services Marketing
10.1 Marketing and Management of Services
Marketing and management of services refers to the strategies and techniques used
by businesses to promote and deliver services to their customers. Services are
intangible, meaning they cannot be physically touched or held like a product. They are
also often highly customized and delivered in real-time, making them difficult to
standardize and sell in the same way as a product. As a result, the marketing and
management of services requires a unique approach that takes these characteristics
into account.
One key aspect of marketing services is positioning and branding. Positioning refers to
how a service is perceived in the minds of consumers relative to its competitors. For
example, a luxury hotel may position itself as a high-end, luxurious option for travelers,
while a budget hotel may position itself as a more affordable, no-frills option. A
company's branding, on the other hand, refers to the overall image and reputation
that it conveys to the public. This can include elements such as the company's logo,
slogan, and marketing messages. In the case of a service, branding can be particularly
important as it helps to establish trust and credibility with customers.
Another important aspect of marketing services is understanding customer needs and
preferences. This requires gathering and analyzing customer data, such as
demographics, preferences, and feedback, to better understand what customers are
looking for in a service. This information can then be used to develop targeted
marketing campaigns and tailor the service offering to meet customer needs.
, One way to gather customer data is through market research, which involves
collecting and analyzing data from a variety of sources. This can include surveys, focus
groups, and online reviews. Market research can help businesses understand
customer needs and preferences, as well as identify any gaps or opportunities in the
market.
In addition to marketing, effective management of services also involves ensuring that
the service is delivered consistently and at a high level of quality. This includes
managing the service process, which is the series of steps involved in delivering the
service, as well as managing the service environment, which refers to the physical and
psychological setting in which the service is delivered.
One key aspect of service process management is standardization, which involves
establishing clear guidelines and procedures for delivering the service. This can help
to ensure that the service is consistently delivered at a high level of quality, as well as
make it easier for employees to follow the process and deliver the service effectively.
Another important aspect of service process management is flexibility, which involves
being able to adapt and tailor the service to meet the needs of individual customers.
This can be especially important for services that are highly customized, such as
consulting or financial planning.
In addition to managing the service process, it is also important to manage the service
environment to ensure that it is conducive to delivering high-quality service. This can
include elements such as the physical layout of the service environment, the
appearance and demeanor of employees, and the overall ambiance of the space.
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