Service Marketing

Posted in Marketing and Strategy Terms, Total Reads: 1243
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Definition: Service Marketing

Marketers market different types of entities such as goods, services, events, persons etc. The marketing of services is known as service marketing.


Services are essentially intangible and does not result in the ownership of anything. Its production may or may not be tied to a physical product.


Service marketing excellence requires excellence in three broad categories: external, internal and interactive marketing. External marketing covers the pricing, distribution and promotion of services to consumers. Internal marketing involves training and motivating employees to serve customers well. Interactive marketing describes the employees’ skill in serving the client.


Service marketing planning involves taking care of 7Ps. Price, Place, Promotion, Product, People, Process and Physical evidence.

 


Example:

Marketing of any of the service sector such as restaurants, banks, airlines etc would come under service marketing. For example, ICICI bank conducts training programs across its stores to empower investors to take informed decisions on their investments. This is a part of service marketing involving people and process.

 

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