24108 Lecture Notes - Lecture 9: Social Marketing, Marketing Mix, Ebay
Document Summary
Week 9 services, social, and not for profit marketing. Explain the importance of the service sector. Describe an effective marketing mix based on the unique characteristics of services. Discuss challenges in the marketing of services. Intangibility: services cannot be easily perceived by the five physical senses, increasing customer feelings of uncertainty and risk about the purchase, difficult for clients to understand information asymmetry, to reduce this anxiety: Take the time to engage with clients. Inseparability (or simultaneity: services are produced and consumed simultaneously. Heterogeneity: inevitable, but able to be minimised, variations in quality in the delivery of a service product, impossible to guarantee perfection every time, quality perception depends on the relationship, key strategies to overcome heterogeneity include: Perishability: the inability to store services for use at a later date, supply and demand can be balanced by: Increasing or decreasing supply capacity: in circumstances where demand fluctuates over time, flexible pricing can be used.
