Lecture 4: Products and Services Flashcards Preview

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Flashcards in Lecture 4: Products and Services Deck (11):
1

good service continuum

spectrum from tangible dominant to intangible dominant

2

service definition

marketing transactions that don't involve a transfer of ownership

3

pdt definition

tangible good, service, idea, combination of these that satisfies consumer or business customer needs through the exchange process

4

examples of services (4)

- people processing = healthcare, airline
- possession processing = repair, maintenance
- mental stimulus processing = education, advertising
- information processing = banking, accounting, legal services

5

what makes services different from goods (4)

IHIP
1) Intangibility = furnishing, uniforms, logo, website...
2) Heterogeneity/variability = adjust price to influence demand, adjust service to match demand
3) Inseparability = gaps in quality, offer service guarantees
4) perish-ability = training employees, explore means for disinter mediation

6

extended market mix (4Ps + ...)

product, place, price, promotion
+
people (internal marketing)
Process (service design)
Physical evidence ( serviscape)

7

level of a product (3)

- core product = primary function, need / want satisfies
- actual product = features, style, packaging, performance, quality
- augmented product = guarantees, installation, delivery, brand values

8

the product life cycle graph

SEE GRAPH
pdt development
intro
growth
maturity
decline

9

barriers to the matching of expected and perceived service levels

misconceptions barriers
inadequate resource barrier
inadequate delivery barrier
exaggerated promises barrier

10

meeting customer expectation

reliability
assurance
responsiveness
empathy
tangibles

11

stages new pdtprocesss

idea generation
screening
concept testing
business analysis
market testing
communication