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Marketing Exam Study!

  • Achieving profitability will require creating relationships with customers right from the right market segments and finding ways to build on and reinforce their loyalty

  • If things go wrong, organize quick service recovery to retain customers

  • Obtain customer feedback to help firm avoid repeating failures and to better meet customers’ future needs and expectations

  • Develop strategies for improving service quality and productivity, this will lead to financial success, unless your customers are satisfied with the quality they receive

Four categories of service

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    Fig 14.1

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      People Processing

      • Some services require you to be in physical contact with the suppliers, eye exam, haircuts, etc.

      • As a customer, you must co-operate with them to enhance and enjoy your service

      • They are services directed at peoples bodies

      • Tangible action

      • o

        Possession Processing

        • Services directed at physical possessions

        • For example, a sick pet, malfunctioning snow blower, a parcel that needs to be sent to another city

        • Customers are less physically involved with this type of service than with people processing services

        • Production and consumption may be described as separable

      • o

        Mental-Stimulus Processing

        • Services directed at people’s minds

        • Anything affecting people’s minds has the power to shape attitudes and influence behaviour

        • Recipients don’t have to be physically present in service factory

        • You can sleep through a flight, but you can’t sleep through a educational seminar and be any wiser

        • Things are, entertainment, professional advice, psychotherapy

      • o

        Information Processing

        • Services directed at intangible assets

        • Professionals in a wide variety of fields use their brains to perform information processing and packaging

        • Accounting, banking, insurance, legal services, etc

        • For simplicity, combine coverage of mental-stimulus processing services and information processing services under the term information-based services

Environmentalism

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    An organized movement of concerned citizens, businesses, and government agencies working to protect and improve the natural environment

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    Environmental sustainability: a management approach that involves developing strategies that both sustain the environment and produce profits for the company

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      Sustainability is a crucial but difficult goal

Macro environment vs. microenvironment and their components

9

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