MKTG101 Lecture Notes - Lecture 11: Co-Creation, Services Marketing, Airbnb
15 Mar 2020
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Document Summary
All products exist, and are consumed, for their service . Services are co-created by a provider and customer. Focus should therefore be on the service component and the process of interaction and co-creation of value. Services; activities, performances or benefits that are offered for sale, but which involve neither an exchange of tangible goods nor a transfer of title (the service is the product). Service; the act of delivering a product involving human, intellectual or mechanical activity that adds value to the product (how well the product is delivered). Purchased by individual consumers or households for their own private consumption (examples include: airline travel, banking, finance, hairdressing, restaurants) During periods of economic growth, demand for services generally increases and vice versa. Technological change = opportunities for service providers (e. g. ebay, uber, airbnb). Purchased by individuals and organisations for use in the production of other products or for use in their daily business operations.
