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MARKETING includes identifying unmet needs; producing products and services to meet those needs: and pricing, distributing, and promoting those products and services to produce a profit. Marketing is an integrated communications-based process through which individuals and communities discover that existing and newly-identified needs and wants may be satisfied by the products and services of others.
Marketing is defined by the American Marketing Association as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. [1] The term developed from the original meaning which referred literally to going to market, as in shopping, or going to a market to buy or sell goods or services.
The Chartered Institute of Marketing defines marketing as "The management process responsible for identifying, anticipating and satisfying customer requirements profitably."[2] Marketing practice tended to be seen as a creative industry in the past, which included advertising, distribution and selling. Four Factors That Distinguish Services MarketingIt's been called "selling the invisible"-delivering intangible services as a core "product" offering. But invisibility, or intangibility, is just one factor that distinguishes services marketing from product marketing. Along with inseparability, variability, and perishability, these four characteristics affect the way clients behave during the buying process and the way organizations must interact with them.
Differences between service marketing and product marketingIntangibilityThe most basic difference between a good and a service is intangibility. This means that the service can't be heard, felt, touched, seen or tasted. This causes services to be very difficult to evaluate and also have good search qualities. Search Qualities are characteristics that are easily reviewed before a purchase occurs. This also makes it a challenge for marketers to communicate the benefits of the service. Many service oriented companies create a tangible representation to help their consumers understand what they are all about. For example, the doctor's office our ninja is considering for a checkup uses a photograph of vitamins to represent that their services will make you healthy. Another big difference is that product goods are produced, sold and then consumed, which is not at all how a service is delivered.
2. InseparabilityServices are impossible to separate in the purchase process. Can you imagine buying a haircut but not being at the salon to get your hair trimmed? Inseparability is the inability of the production and consumption of a service to be separated. One advantage to the inseparability is that consumers can give constant feedback. For example, our ninja can tell his barber exactly what changes he wants as he is getting his hair cut. One challenge for service companies is that they must be sure to have very well trained employees who are adept at providing excellent services. The quality must be consistent.
3. HeterogeneityServices must be consistent and also reliable. Let us think about when our ninja goes for his weekly pizza run. He expects his pizza to be delivered exactly the same way and taste just as delicious as the previous week.Heterogeneity is also known as variability and is one challenge facing service oriented companies. It is when services have problems being standardized. The barber shop that the ninja used to go to gave him an excellent buzz cut for two months. Then the last two times he went for a cut, he ended up with a very poor result. This unintentional variability in service has now caused him to go elsewhere. Fast food companies spend enormous amounts of money creating quality, standardized food across all of their stores. For example, if you order a hamburger at a McDonalds in Texas or Maine, the burger should taste the same. The most important factor in maintaining no variability is through excellent training and set procedures.
4. PerishabilityThe last characteristic of services is called perishability, which means that they cannot be stored, warehoused, or inventoried. It is not as if our ninja can order up six haircuts and store them in his hideout. This is a major challenge to a service provider as any service time that is not used equals a loss in revenue. For example, for every airline seat that sits empty the airline company is facing a loss in profit. The same concern exists for the barber shop. The ninja barber shop must keep their barbers busy cutting hair and not sitting idly by.
Association as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. [1] The term developed from the original meaning which referred literally to going to market, as in shopping, or going to a market to buy or sell goods or services.
There is a major difference between goods and services based on both tangible as well as intangible factors. Goods are basically objects or products which have to be manufactured, stored, transported, marketed and sold. Lays chips, BMW, Adidas are some companies manufacturing goods.
Services on the other hand are output of individuals and they can be a collective or individualistic action or performance by an individual. For example a barber or a chartered accountant are giving individual services. Airlines on the other hand have airplanes which is a product but travelling by airplanes is a service (airlines are one of the most competitive service sectors today).
Thus the difference between goods and services is based on tangibility. Where goods are tangible in nature, services are mostly intangible. The classic rules which defined services were intangibility, heterogeneity, perishability and variability. However, although the old rules are applicable even today, several new rules have been added to define the difference between goods and services.
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There are five essential differences between services and goods. The first is that a service is an intangible process that cannot be weighed or measured, whereas a good is a tangible output of a process that has physical dimensions
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