MKT 100 Final: Chapter 10 MKT

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Fathima Saleem

Document Summary

Idenify how markeing a service difers from markeing a product by applying the principles of intangibility, inseparability, inconsistency, and inventory. First and foremost, services are intangible- they can"t be seen or touched- which makes it diicult to describe a service"s beneits or promote it to others. Service providers atempt to reduce the impact of the service"s intangibility by enhancing its delivery with more tangible atributes, such as a nice atmosphere or price beneits. Second, services are produced and consumed at the same ime. Third, services are more inconsistent than products, though services providers atempt to reduce this variability through standardizaion, training, service bundling and technology. Fourth, because consumers can"t stockpile services, marketers provide incenives to stagger demand over ime. Explain why is it important that service marketers understand and manage customer expectaions. A knowledge gap occurs when markets don"t understand what their customers want.