Service marketing stratgies in India

Abstract

Service marketing is a sub-field of marketing which refers to promotion of economic activities by a business to its clients. Services marketing includes both business to consumer (B2C) and business to business (B2B) services, and this process may involve marketing of telecommunications, health treatment, financial, hospitality, car rental, air travel, and professional services. Services being intangible product are different from physical goods; therefore marketing for services requires different approach. Service marketing is marketing based on relationship and value. With the increasing prominence of services in the global economy, service marketing has become a subject that needs to be studied separately. Marketing services is different from marketing goods because of the unique characteristics of services namely, intangibility, heterogeneity, perishability and inseparability. In most countries, services add more economic value than agriculture, raw materials and manufacturing combined. In developed economies, employment is dominated by service jobs and most new job growth comes from services. Unlike goods there is no ownership transfer in service selling, rather it includes time based access to services in exchange of money. The services marketing being more individualized become to that extent more difficult to accomplish. Success factors in service excellence thus need a different set of marketing tools and strategy.