MKT 723 Lecture Notes - Lecture 6: Services Marketing, Marketing Mix, Voice Of The Customer
23 Nov 2016
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Document Summary
Services are deeds, processes and performances provided or co-produced by one entity or person for another. - textbook definition. Services are economic activities performed by one party to another. In exchange for money, time and effort, service customers expect value from access to labour, skills, expertise, goods, facilities, networks and systems. Examples: healthcare, financial services, hospitality, travel, professional services, etc. Services dominate canadian and worldwide economies compared to products. Services as a business imperative in goods-focused businesses. Service leads to profits and offers competitive advantage. Most new jobs are generated by services. Canada has 15 service producing industries, 70% of gdp comes from services. Services are more difficult to evaluate than goods before a purchase since they"re harder to compare to other services. Search qualities: attributes that a customer can determine before purchasing a product. Experience qualities: attributes that can be discerned only after purchase or during consumption.
