File Name: marketing products and services .zip
The objectives of this paper are firstly to outline the scope and the content of marketing, and secondly to explore the nature of the marketing of services as distinct from the marketing of products. In fulfilling both these objectives the paper provides a background for other contributions in this collection dealing with a variety of marketing of financial services examples and situations. Cowell, D.
Services marketing is a specialised branch of marketing. Services marketing emerged as a separate field of study in the early s, following the recognition that the unique characteristics of services required different strategies compared with the marketing of physical goods. Services marketing typically refers to both business to consumer B2C and business-to-business B2B services, and includes marketing of services such as telecommunications services , financial services , all types of hospitality, tourism leisure and entertainment services, car rental services, health care services and professional services and trade services. Service marketers often use an expanded marketing mix which consists of the seven Ps : product, price, place, promotion, people, physical evidence and process. A contemporary approach, known as service-dominant logic , argues that the demarcation between products and services that persisted throughout the 20th century was artificial and has obscured that everyone sells service.
Market research is a key part of developing your market strategy. It is about collecting information that provides an insight into your customers thinking, buying patterns, and location. In addition, market research can also assist you to undertake an initial sales forecast, monitor market trends and keep an eye on what your competition is doing. Learn more about market research. Trying to promote your product or service to everyone can be costly and ineffective. Grouping or segmenting your potential customers based on certain characteristics will help to focus your marketing efforts.
A product is any good, service, or idea that can be offered to a market to satisfy a want or need. In marketing, a product is anything that can be offered to a market that might satisfy a want or need. In retail, products are called merchandise. In manufacturing, products are purchased as raw materials and sold as finished goods. Commodities are usually raw materials such as metals and agricultural products, but the term can also refer to anything widely available in the open market. In project management, products are the formal definition of the project deliverables that form the objectives of the project. Goods are a physical product capable of being delivered to a purchaser and involve the transfer of ownership from seller to customer.
adopting a marketing approach by librarians and informa- tion managers. • Chapter 2: Drawing upon an earlier research on assessment of needs of management.
Read on to learn more…. Successful digital marketing is complex, with different strategies needed to help increase leads, boost sales, and promote your brand. A starting point for success is understanding the difference between product marketing and service marketing.
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