Chapter 12 Flashcards
What’s the largest part of the U.S. economy ?
services at 45%
and goods only 20%
which is more difficult of the two marketings ?
-services
- products
services marketing
- intangible (experience or feeling something you can’t touch)
- inconsistant (quality can be inconsistent bc of the people doing the service)
- inseparable (the people are tangled with your view of that service)
- inventory (can save shampoo for next week, in hotels you can’t save the rooms you didn’t sell this week for the next, its gone its gone)
the four I’s of services
when it comes to product of the 4ps of marketing, product marketing has what control on the product ?
high control
when it comes to product of the 4ps of marketing, service marketing has what control on the product ?
low control
when it comes to price of the 4ps of marketing, product marketing is how stable ?
more stable
when it comes to price of the 4ps of marketing, service marketing is how stable ?
less stable
- price
- product
- place
- promotion
- people
- physical environment
- process
what are these ?
the 7 p’s of service marketing
what 3 p’s do you add to the 4 p’s of marketing to get the 7 p’s of services marketing ?
- people
- physical environment
- process
Intangible activities or benefits that an organization provides to satisfy consumers needs in exchange for money or something else of value
what is this ?
services
the four unique elements to services
what is this ?
the four I’s of services
occurs when the service provider is available but there is no demand for the service
what is this ?
idle production capacity
the range of offerings companies bring to the market, from the tangible to the intangible or the product dominant to the service dominant
what is this ?
service continuum
