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.
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