StudyGuide2 Filled OOUT.docx - 1 Services Marketing o How Services are Different(4 Is Intangibility Service isnt typically a phys object Performance

StudyGuide2 Filled OOUT.docx - 1 Services Marketing o How...

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1. Services Marketing o How Services are Different (4 I’s) Intangibility Service isn’t typically a phys. object Performance rather than object Inseparability Services produced/consumed simultaneously Inconsistency Difficulty to replicate as services are never the same Inventory No such thing as inventory regarding services due to inseparability o Consumer behavior issues with services Search Seeing and describing the specifics/char. of a service but doesn’t really work for services. Experience Experience a product/service before evaluating it (Ex: Going to a restaurant) Credence (Trust) Service still can’t be evaluated despite experience. (Ex: trusting a professional) o Strategy Issues: 4 P’s (quality, internal marketing, yield mgmt pricing, short channels) Product (Quality) Technical o Whether or not the service is correctly performed Functional o Manner of doing the service o Recover plans account for service errors Price (Yield Mgmt) Supply/demand imbalances (Ex: airline tickets and seats) More forms of competition Promotion (Internal Marketing) People-intensive (getting people on your side) Brand = Employees (ppl. tend to view employees as brand) Place (Franchising) Short Channels o No middleman as it’s a direct channel o Service recovery systems – recover plans o Franchising/Services interaction; how problems get resolved Services Intangibility, Inseparability, Quality, Discretionary, Small Firms Franchising Promotion & Branding, Standard Operation & Controls, Training, Multiple Locations, Screening & Assistance
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2. Marketing Channels Consumer vs. Business Markets o Consumer Starts with producers, followed by intermediaries (middleman) Retailers (dealers) that sell to consumers Wholesalers (distributors) also sell to retailers Agents can sell to wholesalers Agents vs. Wholesalers Wholesalers take title to inventory Agents don’t take title to inventory o Business Have direct channels Operates similar channels as consumers, but shorter and simpler. Starts with Agents, then Industrial Distributors, or directly contact Wholesalers. Middleman terminology (specific) o Rackjobber Handles racks in stores by stocking the product o Cash and carry Take title to merchandise but sell only to buyers who call on them o Deskjobber Market experts & know their products. Owns title to products but does not physically handle them. o Industrial Distributors Similar to wholesalers but perform more functions like selling, stocking, delivering, and financing. Channel flows o Product o Title to goods (Who contains inventory) o Negotiation (buying/selling) o Promotion o Information Extensiveness issue: intensive, selective, exclusive o Intensive (Convenience Goods) IDs buying patterns of consumers and convenience of goods.
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