MKT-3010 Lecture Notes - Lecture 13: Boiling Point, Spring Break, Skill
Document Summary
Services: actions that are done that can not be possessed. Hybrid products: combination of goods and services. 76% of gdp is made up of services. Developed economies are increasingly service oriented economies: production was cheaper in other countries, household maintenance became more specialized, high value placed on convenience and leisure. Intangible: don"t have ownership, you cant taste it, you can"t touch it. Ex) you might have won the football game, but you do not physically own the football game: goal for marketers is to take the intangible and make it tangible. Ex) apparel at a baseball game: quality evaluation. Credence quality for services you have to experience it before you can evaluate it. Ex) you don"t know about a restaurant until you go there and you try it out. Do you have the knowledge to evaluate the services you just got. Ex) can you evaluate a doctor if you don"t have a medical degree.
