Service Marketing and pricing consideration strategies:

Question 1

What is a service and what are its 4 characteristics:
What is the nature of a service?
And three marketing relationships?

Answer 1

Service: a process that leads to an outcome during a partly simultaneous production and consumption.
Characteristics of a service: Intangibility, Perishability, inseparability, variability.
Natura of a service: Multidimensional
Internal Marketing: between employee and company
External Marketing: between customer and company
Interactive Marketing: Between employees and customers

Question 2

4 P’s / 7 P’s

Answer 2

4 p’s: Price, product, placement, production

The extra p’s of service: People, physical evidence, process as serv-cution time(Time taken to produce service)

Question 3

SERVQUAL

Answer 3

-Reliability
-Responsiveness
-Assurance
-Empathy
-Tangible

are used with your expected services and perceived services to create= perceived quality

Question 4

Factors that affect pricing:

Answer 4

-Perceived (Psychological) Value

-Standardization (Economical) value