Service marketing is the upgrade of the economic activities that are availed by a specific business to its respective clients. This type of marketing includes the methods of selling health treatment, financial, hospitality, travel, car rental, telecommunications, and professional services.
Characteristics of service marketing
There are many characteristics of service marketing. Some of the most important characteristics are listed below:
Service demand is something that has a lot of fluctuations. The service demand can change in weeks, days, or even hours. Most of the services in the market have a high degree of demand in just a few hours; moderate demand and low demand are on off-period time.
Unlike the products, services can neither be sensed or touched or felt before they are disclosed. The service marketing assignment helps you to understand the strategies of marketing properly.
The personal services cannot be separated from an individual, and some, kind of personalized services are made and engulfed eventually. For example, a person’s hair cannot be treated if the person is not present in front of the doctor. A doctor can only treat the patient’s hair if he/she is present.
The service features provided by the provider cannot be standardized or kept uniform. A doctor can charge for high fees to a rich patient and take much low as he can from a poor patient. If the patient is a relative of the doctor, then the doctor can also decide here accordingly. The service marketing homework help is the assignment that will surely make you learn the basics of service marketing.
The service quality is defined by the reliability, empathy, assurance, responsibility all that are in control of an employee’s direction while interacting with its customers. The customer’s satisfaction is vital and the most important thing to be considered. People consist of interactive marketing, external marketing, and internal marketing.
The services and their pricing decision are highly influenced by perishability, fluctuation in demand, and consistency.
What is the importance of service marketing?
The economy has drastically evolved into a service economy with services that include healthcare, consulting, and education all making up a larger and influential part of the overall economy. Marketing of such services is an important skill and quite tough for the businesses. Without a strong and tangible product to present and tell the customers about it, the service marketing concept must be skilled at pulling together all the bits and pieces of the marketing agenda to develop value for their respective and trusted customers.
Understanding the 7 P’s of marketing
The 7Ps are set of 7 recognized marketing strategies that one can use to satisfy his/her customers in the target market. The 7Ps are completely controllable but with a subject to the internal and the external marketing surroundings. They are Product, Price, Promotion, people, place, process, and physical evidence such as your packaging, branding, etc.