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Chapter 12 MKGT 250
| Term | Definition |
|---|---|
| Services | Intangible activities or benefits that an organization provides to satisfy consumers’ needs in exchange for money or something else of value. |
| four i's of service | The four unique elements to services: intangibility, inconsistency, inseparability, and inventory. |
| intangibility | cannot be held, touched, or seen before the purchasing decision-a performance not an object |
| which is larger goods or services | services are almost twice as big as goods of the GDP of the US rather than goods |
| inconsistency | services depend on people and quality varies (food at a resturant) |
| inseparability | cannot separate the deliverer of the service from the service itself (one server at a restaurant vs the restaurant chain. one academic advisor vs. the entire college) |
| inventory | cost is paying the person even if no customers (grocery store, cost to run business without customers) |
| idle product capacity | Occurs when the service provider is available but there is no demand for the service (mechanic without any cars) |
| inventory carrying cost | how much it costs to run the business because of employees and equipment 1. real estate agency/salon;insurance company (low) 2. amusement park; airline hospital (high) - DR still pay employees even without customers present |
| service continuum | The range of offerings companies bring to the market, from the tangible to the intangible or the product-dominant to the service-dominant. |
| Figure 12-3 | product-dominate- salt, necktie, dog food balanced - fast food service dominated - nursing, teaching, movie theatre |
| successful service organizations | 1. understand how consumers make a purchase decision 2. understand how consumers evaluate quality 3. determine how to present an advantage over competitors services have experience and credence properties that can be difficult to evaluate |
| Figure 12-5 | search, experience, credence |
| search properties | clothing, jewelry, furniture, houses, automobiles |
| experience properties | restaurant meals, vacation, haircuts, child care (here from who went) |
| credence | legal services, root canal, auto repair, medical diagnosis (very individualized like a cop seeing you speed) |
| gap analysis | A type of analysis that compares the differences between the consumer’s expectations about and experiences with a service based on dimensions of service quality. (why does it exist?) |
| customer contact audit | A flowchart of the points of interaction or “service encounters” between consumers and a service provider. |
| relationship marketing | create relationships with the people providing services |
| seven P's | An expanded marketing mix concept for services that includes the four Ps (product, price, promotion, and place or distribution) as well as people, physical environment, and process. |
| off-peak pricing | Charging different prices during different times of the day or during different days of the week to reflect variations in demand for the service. |
| product | service |
| price | charges |
| place | distribution - where are the places to buy |
| promotion | publicity, PSA, personal selling |
| people | take care of employees and they take care of customers |
| internal marketing | The notion that a service organization must focus on its employees, or internal market, before successful programs can be directed at customers. |
| customer experience management | The process of managing the entire customer experience with the company. |
| physical environment | where is the location, is it clean, smell good, music volume. the "Disney experience" |
| process | the service itself. the order of what happens and the flow of every event |
| capacity management | Integrating the service component of the marketing mix with efforts to influence consumer demand. (the four P's to influence demand) |
| services in the future | services are growing in technology (robot delivery), understanding service delivery and consumption, social imperative for sustainability (reuse, reduce recycle) |
Created by:
agk236