SERVICE MARKETING Swapna V Muhammed Lecturer MES College

SERVICE MARKETING Swapna V. Muhammed Lecturer, MES College, Marampally

SERVICES ® The sector of Explosive growth ® More than 50% of the average family’s budget is spent on services ® Share of services in the country’s GDP is about 60% & likely to grow ® Service sector is expected to grow @7%

MAJOR BENEFITS OF SERVICE SECTOR ® To provide largest no. of jobs ® Least affected by recession & highly stable ® Potential for global trade in services with the implementation of WTO

EXPANDING HORIZONS OF SERVICES 1. Financial services Banking Insurance Leasing Merchant banking Venture Capital 2. Postal & Courier services Mass mailing services Insurance Space for advertisements

EXPANDING HORIZONS OF SERVICES…. . 3. Transport 4. Tourism 5. Hotel/ Hospitality 6. Health care 7. Personal care Beauty Hairstyle Gym

EXPANDING HORIZONS OF SERVICES…. . 8. Education 9. Professional services Taxation Career counselling Legal counselling Investment Management Consultancy Construction – Turn key projects Event Management - Trade exhibition, seminars, meetings, workshops, marriages

EXPANDING HORIZONS OF SERVICES…. . 10. Entertainment / Leisure - Cinema, Water park 11. News Agencies - T. V. , Net, Paper, Radio 12. Information Services - Yellow pages, Ask me 13. Public Utilities - power, Sanitation 14. Information Technology 15. Product Support Services - Installation, Repair & Maintanence

EXPANDING HORIZONS OF SERVICES…. . 16. Domestic services - Laundry, Gardening, Child care, security, Pest Mgt 17. Govt. Services - Birth certificate, cast certificate ( network between Panchayaths & Munciplaities) 18. Social & Not- For-Profit service - police - Polio immunization - Protection of Environment

Significance of Service Marketing ® Intensive competition ® Growing consumer awareness ® Increasing specialization (hospitals, hotels) ® Market sophistication ® Technology

Marketing has revolutionized the Service sector Tangibilising the intangibles eg. Changing the smell of hospital Comfortable stay at hospital Network class room ® Managing Differentiation in terms of offering, Delivery & Image ® Managing service Quality Customer is the Boss & Boss is always right ® Standardization & customisation ®

Marketing has revolutionized the Service sector………… Industrialising the services ® Synchronising the Demand & Supply ® Internal Marketing ( satisfy our own employees) ® Interactive marketing ( Interaction with customers) ® Relationship Marketing ( establishing relationships with customers) Application of Technology ( Airways- print ticket from computer) ®

Why should you Focus on service marketing ® ® ® ® Tremendous scope for employment Highly rewarding Globalised opportunities Challenging Scope for innovation Scope for self employment (we help) Suited for women ( customer courtesy)