Service marketing & Im Flashcards
(17 cards)
What is the definition of a service?
A service is any act or performance offered by one party to another that is essentially intangible. Consumption of the service does not result in any transfer of ownership even though the service process may be attached to a physical product.
(Grönroos, 1990)
What are the four characteristics of services?
The four characteristics of services are Intangibility, Heterogeneity, Inseparability, and Perishability (IHIP).
What does Intangibility mean in the context of services?
Intangibility refers to a deed, performance, or effort that is not an object, device, or thing.
What is Heterogeneity in services?
Heterogeneity indicates that services are difficult to standardize due to factors like workers and weather.
What is Inseparability in services?
Inseparability means that services are usually consumed at the point at which they are produced, making interactions between service personnel and customers crucial.
What does Perishability refer to in services?
Perishability means that products cannot be stored for the future; if a service item doesn’t sell, that income can never be retrieved.
What are the traditional 4 P’s of marketing?
The traditional 4 P’s of marketing are Product, Price, Place, and Promotion.
How does Place differ in services compared to physical products?
In services, Place refers to the use of reservation and information systems and is less about distribution due to the simultaneous nature of production and consumption.
Why is price important in services marketing?
Price is often used to make a judgment about the quality of the service due to its intangibility.
What are the 7 P’s of the extended marketing mix?
The 7 P’s of the extended marketing mix include Product, Price, Place, Promotion, People, Process, and Physical Evidence.
What role do People play in services?
People play an enormous role in influencing consumer perceptions and are often seen as the service, the organization, and the brand.
What is Process in the context of services?
Process refers to the procedures, mechanisms, and flow of activities through which a service is acquired.
What is Physical Evidence in services?
Physical Evidence refers to any physical cues associated with the service, such as brochures and the environment in which the service is performed.
What does Implementation refer to in marketing?
Implementation refers to the execution of the marketing plan, addressing the who, where, when, and how.
What is the importance of Monitoring and Control in marketing?
Monitoring and Control are essential for evaluating performance continually, not just at the end of a plan.
What are the three managerial steps of control?
The three managerial steps of control are: set standards of performance, evaluate reality against these standards, and take corrective or reinforcing action.
What is the difference between effectiveness and efficiency in marketing?
Effectiveness looks at market share and revenue growth, while efficiency looks at sales and marketing expenses as a proportion of gross revenue.
