CBSE Class 12 Marketing Emerging Trends in Marketing Notes

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EMERGING TRENDS IN MARKETING

CBSE Class 12 Information Technology Worksheet Set C Solved 1

CBSE Class 12 Information Technology Worksheet Set C Solved 2

Services Marketing
 
In everyday life we all consume services. Travelling in Delhi Metro, in DTC, attending lectures,buying a book via internet and going into a canteen for a cup of tea are all examples of consumption of services.
 
Service is not a thing but a process – ‗the process is the product‘,1 but at the same time services rely upon things for their performance. A bottle of Coke is not a service, but it can be served to you. A ride in Delhi Metro is a service, but not the metro itself. A service can be rightly called,―a deed, a performance, an effort.‖2 Services are different from products.
 
1Shostack, G.L.(1977), “Breaking Free from Product Marketing”, Journal of Marketing, Vol. 41, April, pp. 73-80.
2Rathmell, John M. (1966), “What is meant by Services?” Journal of Marketing, 30 (October), pp. 32-36.
 
Service sector in India3
 
 
The economy of India is the seventh-largest in the world by GDP and the third largest by purchasing power parity (PPP). The country is classified as a newly industrialised country, one of the G-20 major economies, a member of BRICS and a developing economy with average growth of 7% over the last two decades. Indian economy became the fastest growing major economy from the last quarter of 2014, replacing the People‘s Republic of China. The Indian economy has the potential to become World‘s 3-largest economy by the next decade.India has one of the fastest growing service sector in the world contributing to 57% GDP in 2012-13. The IT industry continues to be the largest private sector employer in India. The agriculture sector is the largest employer in Indian economy but it contributes to a declining share of GDP (17% in 2013-14). The Indian automobile industry is one of the largest in the world.
 
Characteristics Of Services
 
1. Intangibility
2. Simultaneity
3. Heterogeneity
4. Perishability
5.Non-Ownership
 
1. Intangibility: A service can‘t be seen, touched, held, or put on a shelf, because it has no physical shape. No customer can buy physical ownership (Non-ownership) of an ‗experience‘ (entertainment), ‗time‘ (consulting), or ‗a process‘ (dry cleaning). No service can be examined before its enactment because of intangibility. Examples of services include ticketing, babysitting, schooling, etc.
 
2. Simultaneity: In most of the cases production and consumption goes in simultaneously. A consumer has always to be present in the service factory, either the service provider comes to him (plumber) or he goes to service provider (hair salon). This simultaneity develops much more close contact with the customer. Thus, in-service production and consumption can‘t be separated.
 
3. Heterogeneity: No two services can be the same, because services depend to a large extent on human actions and interactions between customers and providers. Since production and consumption goes in simultaneously, there is no chance to rectify a faulty product before it reaches the customer. Thus, heterogeneity makes it difficult to standardise the quality of service.
 
4. Perishability: No services can be produced and stored before consumption, hence, they are perishable. Perishability is the main source of many of the problems of supply and demand that services marketers face. A scheduled flight if not filled with fliers goes in van forever. Most of the service providers, therefore, focus their marketing mix on managing demand.
 
5. Non-Ownership: Customers cannot own the service they receive because ownership is not transferred from the buyer to the seller as it is with a product.
 

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