Services Sector Marketing Essay Example | Topics and Well Written Essays - 2750 words

Services Sector Marketing - Essay Example But a tangible product's quality can be evaluated at the time of purchase and it can be rejected, if the customer feels dissatisfaction about the product. It also creates problems when customers evaluate a product in terms of it price (Reif 1997). However, consumers can use other attributes of the service provider or the place of his business to evaluate the quality of service. Services are perishable in the sense that they have to be consumed the moment they are delivered by the service provider. If they are not consumed on site or immediately, they will be lost and that cannot be recoverable. They cannot also be stored and as such they cannot add time and place utility to consumers. The service offered at different time point need not have same quality. Consistency and uniformity in service cannot be expected even from the same service points. Naturally, service does not match with what was planned and promised. This causes concern for consumers and they often raise grievances in this respect. Utmost care and attention through personnel training and service maintenance alone can mitigate this issue. The major concern of marketing management is the development of tools for marketing goods and services. The marketing management means and includes all efforts that a marketer/manufacturer takes to make sure that goods and services are smoothly moving from production point to consumption point. In these efforts, marketing team put emphasis on certain elements, which they consider as indispensible for marketing success and they are collectively termed as marketing mix. Traditionally, the marketing mix consists of four components, namely: Product, Price, Place of Distribution and Promotional Activities, commonly referred to as 4 P's of marketing. These components of the marketing mix constitute the core of a company's marketing system. The 4Ps are strongly interconnected. However, with the advancement of modern marketing management theories, some more elements have been added to marketing mix. A brief description of all these elements comes in the coming paragraphs: Product: - is concerned with developing the right products and/or services, which should satisfy some customers' needs. Place: - is concerned with getting the right service to the target market. A service is not of much good to a customer if it is not available when and where it is required. Promotion: - is concerned with the creation of awareness to the target market about the right service. Price: - is very vital since it represents the only element of the marketing mix that creates revenue. Thus, through careful coordination of the 4Ps, management can draw the most benefit from any marketing environment. People: - Everybody involved in the marketing efforts irrespective of designation or status in the organisation. Physical evidence: - all the physical appearances and tangible thing that support the marketing process. Processes: - all the series of