CSUF MKTG 351 Final Exam
Importance of services to the economy
- 55% of all US GDP
- 10 out of 11 service sectors increased their revenue last year
- Largest gains from Internet and Broadcasting: Google Facebook, Pandora, Spotify, SiriusM
--- Interpublic Group - One of the largest
How servi...
CSUF MKTG 351 Final Exam
Importance of services to the economy
- 55% of all US GDP
- 10 out of 11 service sectors increased their revenue last year
- Largest gains from Internet and Broadcasting: Google Facebook, Pandora, Spotify,
SiriusM
--- Interpublic Group - One of the largest
How services differs from groups
- Intangible
- Inseparable
- Heterogeneous
- Perishable
Intangible
--- Services cannot be touched, seen, tasted, heard, or felt in the same way as goods.
Tangible cues are often used to communicate a service's quality and nature. Facilities
are a critical tangible part of a service.
--- Makes it harder to communicate benefits
Inseparable
-Producing and Consuming simultaneously
-- Services are often sold, produced and consumed at the same time.
-- Consumers are involved in the production of the Services they buy.
-- Consumer takes part in production
Heterogeneus
-- Services are less standardized and uniform than goods.
-- Because services tend to be labor-intensive, consistency and quality can be hard to
achieve.
-- Standardization and training help increase consistency and reliability
-- Depend on employees for quality
--- Hard to achieve consistency
Perishable
-- Services cannot be saved, stored, warehoused, or inventoried
-- One of the most important challanges in many service industries is finding ways to
synchronize supply and demand
Service Quality
-- Researches have shown that customers evaluate service quality by five components
-- Service quality is more sifficult to define and measure than is the quallity of tangible
goods.
-- Business executives rank the improvement of service quality as one of their most
critical challanges.
Components of Service Quality
- Reliability
- Responsiveness
- Assurance
- Empathy
- Tangibles
,Reliability
To perform right in the first time
Responsiveness
To provide prompt service
Assurance
Knowledge and courtesy of employees
Empathy
Caring
--- Individual attention to customers
Tangibles
Physical evidence of the service
Services Marketing Mix
- Service Strategy
- Distribution
- Promotion Strategy
- Pricing Strategy
Marketing Mix - Agency
Positioning as a center
- Target Audience
- Pricing
- Go-to-Market Strategy
- Services Mix
Target Audience (Marketing Mix - Positioning)
What we know about them
- Goals, Revenue, Values
Pricing Architecture (Marketing Mix - Positioning)
- Project-based
- Hourly
- Retainer
- Pro-Bono
Steps of Pricing Architecture (Marketing Mix - Positioning)
- Build Brand (46%)
- Generate Leads (86%)
- Convert Sales (85%)
- Increase Loyalty (51%)
Go-to-Market Strategy (Marketing Mix - Positioning)
- Public Relations
- Direct Mail
- Networking/Referrals
- SEO
- PPC
Public Relations (Go-to-Market Strategy)
Press release
- Overview
- Positioning
- Distribution
, Press Release - Overview (Public Relations)
Build credibility and awareness with media, vendors and client
Press Release - Positioning (Public Relations)
INITIAL HOOK is announcing the launch of a given campaign that INCLUDES
HYPERLINKS to help rank high on search engines
Press Release - Distribution (Public Relations)
- eReleases.com
- BusinessWire.com
- MarketWire.com
- PRNewsWire.com
- Blogs
eReleases.com (Press Release - Distribution)
a world leader in full text news releases with emphasis on a small business
eReleases.com (characteristics)
- $400.00
- 100,000 journalists
- 3 target categories (Advertising/Marketing and Medical)
- 3,000 National Newspapers
- 3,000 TV Stations & Shows
- 3,500 Radio Stations and Shows
- 4,000 News Web Data Bases (YAhoo, MSN, AOL, News Alert, Google News)
BusinessWire.com (Press Release - Distribution)
the go-to website for companies to transmit their full text press releases
- The hot topics right now includes H1N1 Virus
Blogs (Press Release - Distribution)
Provide value to the blog community
- Establish ourselves as experts
- Be seen as an asset
- Some blogs have readership as large as some major metropolitan newspapers
Direct Mail (Go-to-Market Strategy)
Hyper-targeted letters with PURL to selected prospects
Hyper-targeted letters with PURL (Direct Mail)
- Send 200 letters
- Initial Contact: hand written letter with personalized URL available on the agency web
site
- Follow-up with phone call within three days to inquire about whats needed to move
forward
SEO (Go-to-Market Strategy)
Search Engine Optimization
Search Engine Optimization
process of IMPROVING THE VOLUME or quality OF TRAFFIC to a website FROM
SEARCH ENGINES via "natural" or un-paid (Organic or Algorithmic) as opposed to pay-
per-click (PPC)
- TYPICALLY, THE EARLIER (or higher) a site appears in the results, the more visitors
it will receive.
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 ACADEMICAIDSTORE. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £11.81. You're not tied to anything after your purchase.
