poonam purohit

8/2/2019 poonam purohit

1/30

Service Mix

-Poonam Purohit


2/30

Service is a Economic Activity that is :-

Intangible. Cannot be stored.

No Transfer Ownership.

Examples:-Financial services, Maid Services, Restaurants,Hospitality, Tourism, Advertising Services etc..

What is a Service


3/30

Difference between physical

goods and servicesPhysical goods Services

Tangible Intangible

Homogeneous HeterogeneousProduction and distribution areseparated from consumption

Production, distribution and consumption aresimultaneous processes

A thing An activity or process

Core value processed in factory Core value produced in the buyer-seller interaction

Customers do not participate inthe production process

Customers participate in production

Can be kept in stock Cannot be kept in stock

Transfer of ownership No transfer of ownership


4/30

55.2

26.3

18.5

Service Sector

Industrial Sector

Agriculture

Contribution of Service Sector

towards Indian GDP:-


5/30

Government Sector. Healthcare/Hospitals.

Education. Banking. Insurance. Legal Service.

Media. Hospitality. Tourism.

Example of Service Sector.


6/30

The tools available to a Service Provider togain the reaction it is seeking from its targetmarket in relation to its marketing objectives.

7Ps Price, Product, Promotion, Place,People, Process, Physical Environment

Traditional 4Ps extended to encompass

growth of service industry

Service Mix


7/30

The Service Mix.


8/30

Price


9/30

PricePricing StrategyImportance of Pricing Strategy: Knowing the market.

Elasticity. Keeping an eye on rivals.

Pricing Should be taking into consideration: Fixed and variable costs. Competition

Company objectives. Proposed positioning strategies. Target group and willingness to pay


10/30

Product


11/30

Product

Its suggested that a Productshould be viewed in three levels:

Level 1: Core Product.Level 2 Actual Product.Level 3: Augmented Product.

Various Methods are used to improve/differentiate the Service and increasesales or target sales more effectively to

gain a competitive edge.


12/30

Promotion


13/30

Promotion Various Promotion

Strategies are used to

make the consumer awareof the existence of aproductor service.

Successful Service meansnothing unless the benefitof such a service can becommunicated clearly tothe target market.


14/30

Place


15/30

Place The means by which products and

services get from producerto consumer and where they canbe accessed by the consumer.

The more places to buy theproduct and the easier it is made

to buy it, the better for thebusiness.


16/30

Extended Service Mix.


17/30

People


18/30

People

People represent the business

The image they present can be

important First contact often human what is

the lasting image they provide to thecustomer?

Extent of training and knowledgeof the product/service concerned

Mission statement how relevant?

Do staff represent the desired culture

of the business?


19/30

Process


20/30

Process

How do people consumeservices?

What processes do they have to

go through to acquire theservices? Where do they find the

availabilityof the service?

Contact Reminders Registration Subscription Form filling Degree of technology


21/30

Physical Environment


22/30

Physical Environment

The ambience, mood orphysical presentation of

the environment Trendy/retro/modern/old

fashioned?

Light/dark/bright/subdued?

Romantic/chic/loud? Clean/dirty/unkempt/neat?

Smart/Shabby?


23/30

Case Study on HDFC Bank


24/30

Product :

Demat account Lockers

Cash management

Insurance product

Mutual fund product

Loans

ECS(Electronic clearance system)

Tax Payments

Place :

Wide spread of NetworkAcross

Rural and Urban Area.

Branches: More than 6000

ATM: More than 6369

HDFC Bank


25/30

Price:

Difference between theinterest Charged and interestPaid on Fixed Deposits.

Pricing on the Value AddedService.

Cost included.

Promotion:

Special Offers. Advertisings.

Leaflets.

Direct Mailing.

Free gifts.

Contest.

Sponsoring

HDFC Bank


26/30

HDFC BankPeople:

Trained Staff.

Trainings Provided on aRegular Interval.

Process:

High use of technology EgTimely Transfers

Customer Data management

Physical Evidence:

Proper Ambience

Use of Self Explanatory Tools


27/30

The Service Mix

Blend of the mix depends upon:

Marketing objectives

Type of product Target market

Market structure

Rivals behaviour

Global issues culture/religion, etc. Marketing position

Product portfolio Product lifecycle

Boston Matrix


28/30

Issues for Service Provider:-

People.

Differentiation.

Intangibility.


29/30

Conclusion

In services, the last experienceremains uppermost in your mind.

Therefore, it is not enough to begood, you have to be consistentlygood


30/30

Thank You!!!

Documents

poonam purohit