Summary
Summary BEM 120: CHAPTER 4 NOTES
- Module
- Institution
- Book
BEM 120 Chapter 4 notes.
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
More summaries for
-
BEM 120 NOTES/SUMMARY
-
BEM 120: CHAPTER 5 NOTES
-
BEM 120: CHAPTER 6 NOTES
Seller
Follow
saaymanzante
Reviews received
Content preview
• criteria:CHAPTER 4 o sales and profit potential
service product o growth potential
o organisation’s ability to service
SERVICE PRODUCT segment
• anything that can be offered to market for o organisation’s ability to compete
attention, acquisition, use or consumption with other organisation’s offerings in
and that may satisfy a want/need the same segment
• includes: physical objects, services, persons,
places, organisations, ideas SERVICE POSITIONING
• activity concerned with identification,
SERVICE PRODUCT LEVELS development, and communication of
1. Core service differentiated advantage
• core benefit customer expects from specific • gives perception of organisation’s products
service &services as superior to + distinct those of its
competitors in mind of target consumers
2. Expected service
• benefits:
• core service + minimum expectation
o provides target segment with reason
• combination of tangible + intangible for buying
elements
o customers see why organisation’s
3. Desired service services are different from others
• expected + additional service & benefits o identifies where it wants to be &
• elements organisations use to distinguish specifies actions needed to attain
themselves from competitors position
o identifies market opportunities not
SEGMENTATION AND TARGETING address by competitors
• market segments: groups of buyers who share o market penetration possible
common characteristics within segment, but o guidelines for development of
differ between segments marketing mix, structuring of element
• target market consists of customers who’ll • criteria:
be satisfied by service offering, and will be o meaningful and desirable to segment
profitable to organisation o believable – no unattainable claims
o uniquely different from competition
• benefits:
o sustainable & profitable over long-
o deeper understanding of customer
term
needs
o effective resource allocation
o clearer identification of market SERVICE PRODUCT STRATEGIES
opportunities 1. Service product mix strategy
o products created and priced for 1.1 Service life cycle (patterns of demand)
target audience
Introduction phase slow sales, limited profit
o easier choice of distribution and
communication channels Growth phase increasing sales and profit
o better-positioned marketing sales start to slow down,
Maturity phase
programmes profits decline
competitors drop out, sales
Decline phase
and profit decline
1
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller saaymanzante. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £2.27. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67096 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now