INTRODUCTION TO SERVICES MARKETING (DEFINITION)

CHARACTERISTICS OF SERVICES (SERVICES V/S GOODS) CLASSIFICATION OF SERVICES CATEGORIES OF SERVICES SIGNIFICANCE OF SERVICE MARKETING INTRODUCTION TO BANKING & INSURANCE AS SERVICES 7Ps OF SERVICES MARKETING MIX 7Ps WITH REFERENCE TO BANKING MARKETING MIX

7Ps WITH REFERENCE TO INSURANCE MARKETING MIX

INTRODUCTION TO

According to American Marketing Association, Services are the activities, benefits or satisfactions which are offered for sale or are provided in connection with the sale of goods.

ENVIRONMENTAL TRENDS & EMERGING SERVICE MARKETS

1. Customer Affluence 2. Increase Leisure Time 3. Changing Work Force 4. Greater Life Expectancy 5. Increased Complexity of Products/Technological Advancements 6. Increased Complexity of Life 7. Increased Environmental Awareness 8. Increased Number of Available Product

SERVICES
INTANGIBILITY
Intangible

GOODS
Tangible

NATURE
Series Of Services Particular Thing

HETEROGENEITY
Heterogeneous Homogeneous

OWNERSHIP

Not Transferable
INSEPARABILITY
Inseparable

Transferable
Separable

PERISHABILITY
Highly Perishable Low Perishable

PRICING
Labour Based FOCUS Consumer Expectations Consumer Needs Material Based

1) NATURE OF THE SERVICE ACT

PEOPLE

THINGS

Services Directed at Peoples Bodies :

TANGIBLE ACTION

Services Directed at Goods & other physical possessions :

Health Care Passenger Transportation Beauty saloons Exercise Clinics Restaurants

Services Directed at Peoples Mind :

Freight Transportation Laundry & Dry Cleaning Landscaping Lawn Care

Services Directed at Intangible Assets :

INTANGIBLE
ACTION

Education Broadcasting Theatres Museums

Banking Legal Services Accounting Securities Insurance

2) TYPE OF RELATIONSHIP THAT THE SERVICE ORGANIZATION HAS WITH ITS CUSTOMERS
MEMBERSHIP RELATIONSHIP

NO FORMAL RELATIONSHIP

CONTINUES DELIVERY OF SERVICES

Insurance Telephone Subscription College Enrollment Banking

Long-distance Phone

Radio Stations Police Protection Light House Public Highways

Car Rental Mail Services Pay Phone Public Transportation Restaurant

Calls DISCRETE TRANSACTION Theatre services Subscription Computer Ticket or Pass

3) SCOPE FOR CUSTOMIZATION AND JUDGMENT IN SERVICE DELIVERY

HIGH LOW

HIGH

LOW

Professional Services Survey Taxi Services Beauticians Plumber Telephone Service Hotel Service Retail Banking Family Restaurant

Education Preventive Health

Programs College Food Service

Public Transportation Routine Appliance

Repair Movie Theatre Spectator Sports Fast-food Restaurant

4) NATURE OF DEMAND AND SUPPLY FOR THE SERVCE

WIDE PEAK DEMAND CAN USUALLY BE MET WITHOUT MAJOR DELAY NARROW

Electricity Natural Gas Telephone Policy & Fire Emergencies Passengers Transportation Hotels & Motels Restaurants Theatres

Insurance Legal service Banking Laundry & Dry

Cleaning

Services similar to

PEAK DEMAND REGULARLY EXCEEDS CAPACITY

those above but with insufficient capacity for their base level of business

5) METHOD OF SERVICE DELIVERY

SINGLE SITE CUSTOMER GOES TO SERVICE ORGANIZATION MULTIPLE SITE

Theatre Barbershop

Bus Services Fast-food Chain

SERVICE ORGANIZATION COMES TO CUSTOMER

Lawn Call Services Mail Delivery Pest Control Emergency Repairs

Services Taxi

CUSTOMER & SERVICE ORGANIZATION TRANSACT AT ARMS LENGTH

Credit Card

Company Local TV Station

Broadcast Network Telephone Company

Pure

Tangible

Hybrid

Major Services With

Pure Intangible

Tangible Goods With

Goods

Accompanying
Services

Accompanying Services
Minor Goods
Financing-Car,
Warranty-Fan, Gift Packaging, Service Contract-Computers

Television,
Lipstick, Oven, Car

Pizza-Food Service,
Hotel Room-Lodging, Bus-Transportation, Equipment-Leasing

Banking,
Legal Services, Image Consulting, Insurance

People Patronize Restaurants For Both Food & Service

1. CREATION & EXPANSION OF JOB OPPORTUNITIES :2. AN OPTIMUM UTILIZATION OF RESOURCES :3. PAVING AVENUES FOR FORMATION OF CAPITAL :4. INCREASING STANDARD OF LIVING :5. LEAST POSSIBLE DEPENDENCE ON TECHNOLOGY :-

FEATURES
1. INTANGIBILITY

2. INSEPARABILITY
3. VARIABILITY 4. PERISHABILITY

 SECURITY

CREDIT SERVICES
24 * 7 BANKING ANY WHERE BANKING CUSTOMER RELATIONSHIP MANAGEMENT

FEATURES
1. INTANGIBILITY

2. HETEROGENEITY
3. INSEPARABILITY 4. CHANGING DEMAND

 ONLINE PREMIUM PAYMENT NETWORKING KIOSKS IVRS INFORMATION CENTRE

NEXT DAY
ADDRESS HOTEL WHITE HOUSE, MULUND (WEST) 400081

WELCOME

PAY COUNTER

PRODUCT

PROMOTION

PRICE

CUSTOMER SATISFACTION PLACE PEOPLE

PROCESS

PHYSICAL EVIDENCE

IN THE WORDS OF PHILIP KOTLER :

- A PRODUCT IS ANYTHING THAT CAN BE OFFERED TO MARKET

- FOR ATTENTION, ACQUISITION, USE OR CONSUMPTION

- THAT SATISFY A WANT OR NEED.

IT INCLUDES :
- PHYSICAL OBJECTS (TV) - SERVICE (BANKING) - PERSON (POLITICAL PERSON) - PLACE (HOLIDAY RESORT)

LEVELS OF PRODUCT
CORE BENEFIT LEVEL EXPECTED LEVEL AUGMENTED LEVEL POTENTIAL LEVEL

PRODUCT LINE

DEPOSITS

ADVANCES Fund-oriented Term & Clean loans,

CONSULTANCY Tax consultancy, Merchant Banking,

Time,

INTERNATIONAL MISCELLANEOUS BANKING

Traveller

PRODUCT LINE LENGTH

Demand.

Foreign currency, Letter of credit.

Cheques, Credit cards, Remittances, Collections, Self-custody,

Pre-shipment &
Post-shipment Finance, Bill discounting,

Project
Counselling, Investment Counselling.

Non-fund
oriented Guarantees, Letter of credit.

Trusteeship,
Standing Instructions.

Star Power Salary A/C Star Diamond Saving A/C Star Flexi Recurring A/C Double Benefit Deposit NRI Deposit Scheme NRI Yield Enhancing Scheme

Agricultural Finance

Bank Of India Visa Card

Bank Of India Master Card

LIC
POLICIES SPECIAL POLICIES

GIC
POLICIES FIRE INSURANCE

ANNUITIES
UNDERWRITING CREDIT SCHEMES GROUP INSURANCE CONSULTANCY

MARINE INSURANCE
CONSULTANCY INVESTMENTS SPECIAL SERVICES MISCELLANEOUS SERVICES

LEVELS OF PRODUCT
CORE BENEFIT LEVEL EXPECTED LEVEL AUGMENTED LEVEL POTENTIAL LEVEL

OBJECTIVES OF PRICING
SURVIVAL GROWTH

MAXIMIZE PROFIT
MAXIMIZE MARKET SHARE

PRICING DECISIONS ARE CONCERNED WITH

INTEREST PAID

INTEREST CHARGED

COMMISSION PAID

FEE, COMMISSION CHARGED

The Rate Of Interest Is Regulate By RBI & Other Charges Are Controlled By The INDIAN BANKING ASSOCIATION

PRICING DECISIONS ARE CONCERNED WITH

PREMIUM CHARGED

INTEREST CHARGED

COMMISSION CHARGED

65 PERCENT OF THE PRICING IS STILL

DETERMINED BY THE GOVERNMENT THAT IS THE TARIFF ADVISORY COMMITTEE

PREMIUM TO BE PAID IS DETERMINED BY THREE FACTORS MORTALITY TABLES

EXPECTED SURPLUS
EXPENSES

INTRODUCING BANKING INFO ON TELEVISION WITH DISHTV

First time in India

SALES PROMOTION

PUBLIC RELATIONS & PUBLICITY

Sachin & Supriya

ADVERTISING PERSONAL SELLING

ICICI Bank TV Banking

WORD OF MOUTH SPONSORSHIP DIRECT MARKETING

Just press 98 to access ICICI ACTIVE on your dishtv remote

TELEVISION and Updates - Offers RADIO

- Insurance - Additional Services

- Savings and Deposits

NEWSPAPERS MAGAZINES / JOURNALS

- Loans and Cards Prashant Damale

FACTORS INFLUENCING CHOICE OF LOCATION: 1. Nature of Service 2. Nature of Interaction

3. Customers Needs and Wants

4. Natural Geographical Location 5. Competitive Position 6. Technological Advancement

Decision of place mainly deals with Selection of suitable Location for the Branch
RBI Regulations

FEATURES

- Convenient
- Transportation, Communication , Electricity facilities

ANY BRANCH BANKING

Recipe Name

: Services Marketing Mix

The FORMULATION OF 1) Product Ingredient and Spices : MARKETING MIX Is Just Like The Combination Of Ingredients, Spices In The 2) Pricing Cooking Process
3) Promotion 4) Place 5) People

6) Process
7) Physical Evidence