Discuss The 4 Characteristics Of Services

There has to be an understanding of the complexity of services before one can begin to determine what challenges face the service industry and the most efficient means of facing those challenges to maintain success. A service organization provides intangible services for a monetary value as perceived by the consumer (Lovelock & Wirtz, 2011). A simple definition is that there are no physical items exchanged in a service transaction as opposed to retail where an item is given in exchange for a predetermined price point. This paper will provide

management. It requires no buffer stocks are held, products arrives just they are needed on

Details of services: what services do they offer? Who are these services aimed at? Are they focused on a niche or do they provide an integrated portfolio of services?

To do this look at the factors which make the marketing of services different form the marketing of products. Give examples of the different mix elements used when marketing services or products to organisations such as government organisations, resellers, industrial firms and non-profit organisations.

1. For the new marketing opportunity and in relation to the product or service, answer the following questions?

The high demand in products requires the company to sustain a large inventory; however unsold products are costly to a company. An ideal situation is to market and sell products as quick as possible or at least keep a balance of production and the sale of products as close as possible.

Based on all of the answer above and the work you have completed in relation to question 1 and 2, identify and describe the best marketing mix for the new product or service opportunity. Provide your reasons for this choice.

The airline industry is undeniably tied to the overall economy – even minor recessions result in reduced demand and increased sensitivity to prices for leisure as well as business travelers.

Another problem due to intangibility of service is that services cannot be stored. The intangibility of services is the dominant characteristics of services and biggest challenge for marketers as well as service product owners. There are five main characteristics of intangibility of services:

1. Analyze Enterprise’s Service Quality Survey. What information is it trying to gather? What are its research objectives?

Lusch et al. (2007) describe as marketing emerged in the beginning of the 20th century, it embraced the goods-dominant (G-D) logic. The concept of the Four Ps of marketing mix – product, price, place and promotion became treated as the basic model at that time. (Grönroos, 1989) Today, this paradigm is beginning to lose its position. Service marketing is one leading new approach to marketing. Four main characteristics of services defined by Kotler et al. (2009) are intangible, perishable, variability and inseparability (see Appendix A). Thus, Booms and Bitner (1982) turn services marketing into 7Ps by adding people, physical evidence and process.

Throughout it’s history, the air transport industry has frequently demonstrated adjustment to the current demands and economical circumstances of the market through increased fuel prices, multiple recessions and an increase in ASK’s and RSK’s (ASK = 1 seat flown 1km and RSK = 1 revenue paying customer flown 1km). This informal report will seek to outline some examples of how the industry has adapted both in the cargo and passenger markets. These two broad markets will be expanded into some significant subsections and, using recent examples, I will seek to demonstrate how they adapt. Appendix A is a table displaying the areas that will be covered.

The four I’s provide mulplie services that ompanies are not cleary service-based or product-based. Companies bring ti the market ranges from the tangble to the intable. The range of product-dominant to service-dominat ofeering is called service continuum. Services can be classified as equipment-based or people based. This is know as the service continuum.

In the service sector the product is intangible service. It consists of the bundle features & benefits that have relevance to a specific target of the market. These is a high level of flexible & opportunity to be innovative in designing a product offers the consumers will favor those product that offer the most quality, performance or innovative features manager in these organization focus on the marketing superiors products & improving then overtime however these managers use sometimes caught up in love affair with their product.

Performance - this refers to the characteristics of a product made. This can make or break a company depending on how the consumer is contented.