Services Marketing

There are several major differences, including:

The buyer purchases are intangible
The service may be based on the reputation of a single person
It's more difficult to compare the quality of similar services
The buyer cannot return the service

Service Marketing mix adds 3 more p's, i.e. people, physical environment, process service and follow-through are keys to a successful venture. The major difference in the education of services marketing versus regular marketing is that instead of the traditional "4 P's," Product, Price, Place, Promotion, there are three additional "P's" consisting of People, Physical evidence, and Process.

Service marketing also includes the services cape referring to but not limited to the aesthetic appearance of the business from the outside, the inside, and the general appearance of the employees themselves.

What is marketing? Marketing is the flow of goods and services from the producer to consumer. It based on relationship and value. In common parlance it is the distribution and sale of goods and services. Marketing can be differentiated as • Marketing of products, and • Marketing of services Marketing includes the services of all those indulged may it be then the wholesaler retailer, Warehouse keeper, transport etc.

In this modern age of competition marketing of a product or service plays a key role. It is estimated that almost 50% of the price paid for a commodity goes to the marketing of the product in US. Marketing is now said to be a term which has no particular definition as the definitions change everyday.

"Managing the evidence" refers to the act of informing customers that the service encounter has been performed successfully. It is best done in subtle ways like providing examples or descriptions of good and poor service that can be used as a basis of comparison.

The underlying rationale is that a customer might not appreciate the full worth of the service if they do not have a good benchmark for comparisons.

However, it is worth remembering that many of the concepts, as well as many of the specific techniques, will work equally well whether they are directed at products or services. In particular, developing a marketing strategy is much the same for products and services, in that it involves selecting target markets and formulating a marketing mix. Thus, Theodore Levitt suggested that "instead of talking of 'goods' and of 'services', it is better to talk of 'tangibles' and 'intangibles'".