BU412 Chapter Notes - Chapter 1: Dry Cleaning, Marketing Mix, Services Marketing
Document Summary
The size of the service sector is increasing in virtually all countries around the world a trend that applies to both developed and emerging economies. Companies are shifting to be service providers ex. Government policies, social changes, business trends, advances in information technology, and globalization are among the powerful forces transforming today"s service markets. These forces together influence the competitive landscape and the way customers buy and use services. Services focus on the lack of transfer of ownership when buying a service. Services involve a form of rental through which customers can obtain benefits. What customers are value and are willing to pay for are desired experiences and solutions. Labour skills and expertise rentals people are hired to perform work that customers either cannot or choose not to do themselves. Rented goods services allows customers to obtain the exclusive temporary right to use a physical object that they do not own.
