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services marketing

The United States has been a "services" economy since the late 1980's, at which time our GNP was focused more on providing services than the manufacture of physical products. Marketers recognize that the marketing of services is different than the marketing of a product because of the different characteristics that distinguish them from physical products.
List these characteristics and demonstrate your understanding of what each means relative to services marketing.

What are some marketing strategies that might be employed with services to ensure positive results? In your answer, provide an example of a service to which your strategies would be utilized.

Solution Preview

One of the major differences between product and service marketing is that products are physical and can be touched and felt, but services are invisible and can only be experienced. The attributes of services can only be experienced whereas product's features can be seen or felt. This poses a great challenge for marketers of services because they need to ensure that customer's experience is of the highest quality and customer's should be able to experience the attributes or unique characteristics of their services in an effective manner.

Similarly, another major challenge for service marketers is that consumption and production of service takes place at the same time. In products, there is a major time lag between the time a product is produced and sold to the customer. Therefore, the simultaneous consumption and production poses a ...

Solution Summary

The United States has been a "services" economy since the late 1980's, at which time our GNP was focused more on providing services than the manufacture of physical products. Marketers recognize that the marketing of services is different than the marketing of a product because of the different characteristics that distinguish them from physical products.
List these characteristics and demonstrate your understanding of what each means relative to services marketing.

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