We have focused our Marketing Mix Strategies mostly on Products. How might these strategies change for Services?
Product includes physical goods, services, ideas, people, places, etc.
Nonetheless, services do require some changes to marketing strategy that address the differences between goods and services marketing. Keep in mind what makes a service different from a physical good.
The marketing mix changes for services because, unlike products, services are intangible. There is little to show for a trip on a bus or even a house cleaner's visit. Also, production and consumption occurs simultaneously in services. You are going from point A to point B as you travel in a taxi, with the service and production happening at the same time. Services have perishability: they are either used or lost. An example is unsold hotel rooms or tickets to a Broadway show: once the night passes, there is no ability to go back and salvage the service. Services also have a high amount of variability: consider the ...
This solution discusses how the marketing mix strategy might change for services. Includes APA formatted references.
Market a new product
Create a product or service (do not choose an existing brand) OR select a product or service from the following list: cell phone, video game, motorcycle, perfume, hair salon, toothpaste, website design consulting business, online dating service, auto body shop.
Using the course resources, develop an environmental analysis, marketing strategy, and marketing mix for this product.
Consider if your selected product is affected by environmental factors (Political, Economic, Socio-cultural, Technological, Competitive). If so, how?
Include a description of the target market and positioning (how customers perceive your product or service).
Include a detailed overview of each element of the marketing mix (product, price, distribution, and marketing communications