Summary
Summary Services Marketing
- Course
- Institution
summary of the entire module "Services Marketing"
[Show more]
Seller
Follow
AnikaOchel
Reviews received
Available practice questions
Services Marketing - all important definitions and concepts
Flashcards
131 Flashcards
$3.25
2 sales
Flashcards
131 Flashcards
$3.25
2 sales
Some examples from this set of practice questions
1.
5 Ws of MC planning
Answer: Who is the target audience? What do we need to communicate and achieve? How should we achieve this? Where should we communicate this? When do the communications need to take place?
2.
adapability
Answer: how adaptable the service delivery system is when the customer has special needs or requests that place demand on the process
3.
assurance
Answer: employee's knowledge and courtesy and their ability to inspire trust and confidence
4.
attributes of goods and services
Answer: search attributes, experience attributes, credence attributes
5.
benefits of e-commerce
Answer: low cost, wide distribution, customer convenience, quick customer feedback
6.
bundling
Answer: the practice of marketing two or more products and services in a single package
7.
cash discount
Answer: price reduction when bill paid promotly
8.
categories of services
Answer: people processing (tangible), possession processing (tangible), mental stimulus processing (intangible), information processing (intangible)
9.
characteristics of services
Answer: intangibility, inseparability, heterogeneity, perishability, non-ownership
10.
compatibility management
Answer: firms must target the right customer at the right times and shape behaviour (ensure that other customers are not negatively affected)
Content preview
Summary ANIKA OCHELServices Marketing
(MRKT 7003)
,CONTENT
Foundations of Services Marketing ......................................................................................................................... 4
Definition and Meaning of Services Marketing ................................................................................................... 4
Services ........................................................................................................................................................... 4
Service Industries ............................................................................................................................................ 4
How Marketing of Services differs from Goods .................................................................................................. 4
Difference between Services and Good .......................................................................................................... 4
Scale of Market Entities .................................................................................................................................. 5
Servuction Model .................................................................................................................................................... 6
Triangle of Services Marketing ................................................................................................................................ 7
Distinctive Characteristics of Services ..................................................................................................................... 8
Intangibility ......................................................................................................................................................... 8
Inseparability (of Production and Consumption) ................................................................................................ 8
Heterogeneity / Variability .................................................................................................................................. 9
Perishability ......................................................................................................................................................... 9
Non-Ownership ................................................................................................................................................. 10
Extended Marketing Mix – 7Ps ............................................................................................................................. 11
Product .............................................................................................................................................................. 11
Price .................................................................................................................................................................. 11
Place .................................................................................................................................................................. 11
Promotion ......................................................................................................................................................... 11
People ............................................................................................................................................................... 12
Process .............................................................................................................................................................. 12
Physical Evidence .............................................................................................................................................. 12
Consumer Behaviour in a Services Context .......................................................................................................... 13
Categories of Service ......................................................................................................................................... 13
Three-Stage Model of Services Consumer Behaviour ....................................................................................... 13
Pre-Purchase Stage ....................................................................................................................................... 13
Service Encounter Stage ................................................................................................................................ 15
Summary Services Marketing – Anika Ochel
1
, Post-Encounter Stage .................................................................................................................................... 16
Service Perception ............................................................................................................................................ 16
Compatibility Management .......................................................................................................................... 16
Service Quality .............................................................................................................................................. 17
ServQual Survey ............................................................................................................................................ 17
Moments of Truth ......................................................................................................................................... 17
Critical Incident Technique ............................................................................................................................ 18
The Service Product .............................................................................................................................................. 19
Core Product ..................................................................................................................................................... 19
Supplementary Services .................................................................................................................................... 19
Distributing Services.............................................................................................................................................. 20
Distribution in a Service Context ....................................................................................................................... 20
Distribution Options for Serving Customers ..................................................................................................... 20
E-Commerce and Online Services ..................................................................................................................... 20
Franchising ........................................................................................................................................................ 21
Company-Owned Channels ........................................................................................................................... 21
Service Intermediaries .................................................................................................................................. 21
Service Pricing ....................................................................................................................................................... 22
Factors in Service Price Setting ......................................................................................................................... 22
Internal Factors Affecting Pricing .................................................................................................................. 22
External Factors Affecting Pricing ................................................................................................................. 23
Foundations Underlying Pricing Strategy ...................................................................................................... 23
Pricing Strategy ................................................................................................................................................. 23
Cost-Based Pricing Strategy .......................................................................................................................... 23
Value-Based Pricing Strategy ........................................................................................................................ 23
Competition-Based Pricing Strategy ............................................................................................................. 24
New-Service Pricing Strategy ........................................................................................................................ 24
Prestige Pricing Strategy ............................................................................................................................... 24
Price Adjustment Strategies .......................................................................................................................... 25
Time-Dependent Capacity and its Impact on Pricing ........................................................................................ 25
Summary Services Marketing – Anika Ochel
2
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 or Stuvia-credit 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 AnikaOchel. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $3.25. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now