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Lecture 6

Lecture 6 March 4th 2014.docx

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Department
Business
Course
BUSI 2204
Professor
Les Melamed
Semester
Winter

Description
Lecture 6                                                                                                                March  4  2014  Chapter 10: The Intangible Product Focus: Services Distinguishing products from services Intangibility, inseparability, inconsistency and inventory Managing customer expectations: Gaps Knowledge, standards, delivery, and expectations Helping employees provide better service Service recovery strategies Intangibility, Inseparability, Inconsistently, and Inventory Intangible: Services cannot be seen, or sensed before purchase Requires using cues to aid customers Atmosphere is important to convey value Images are used to convey benefit of value Inseparable: No separation between provider and service Production and consumption are simultaneous Little opportunity to test a service before use Lower risk by offering guarantees or warranties Inconsistent: Service is variable. Depends greatly on the service provider. Inventory: No storage for later use. The unused is lost. ‘ The Gaps Model Customer expectations for service quality (Knowledge Gap) Management perceptions of customer expectations (Standards Gap) Standards specifying service to be delivered. (Delivery Gap) Actual service delivered (Communication Gap) Retailer communications about service quality                                 Dimensions of Service Quality Dimension Definition Tangibles Appearance of physical facilities,  equipment, personnel, and communications  material Reliability Ability to perform the promised service  dependably and accurately Responsiveness Willingness to help customers and provide  prompt service Assurance Respectful, considerate personnel who  listen to customers and answer their  questions Empathy Knowing the customer and understanding  their needs: approvable and available  Chapter 14: Integrated Marketing Communications Focus: Integrated Marketing Communications  Communicating with customers Six tools of integrated marketing communications campaign What appeals advertisers use to get customers attention Integrated Marketing Communications (IMC) A consistent two way dialogue between supplier and customer through all its  communications channels Clear Compelling Meeting the information needs of customers A uniform message delivered all throughout company media (e.g. advertising, selling  effort, direct mail, trade shows) Repeated exposure of the marketing messages through a variety of information sources  to be effective The communications landscape is changing Consumers are better informed Less mass marketing  More communications Changing communications technology. Integrated marketing communications is the integration by the company of its  communication channels to deliver a clear, consistent, and compelling message about the  organization and its products IMC Tools The tools used to persuasively communicate customer value and build customer  relationships Advertising  Personal Selling Public Relations Sales Promotion Direct Marketing Electronic Media Advertising Advertising is any form of non­personal presentation and promotion of ideas, goods, or  services by an identified sponsor TV, radio, print, outdoors Advertising reaches masses of geographically dispersed buyers at a low cost per  exposure, and it enables the seller to repeat a message many times Most visible element of IMC Effective at creating awareness and generating interest. Personal Selling Personal selling is the personal presentation by the firms sales force for the purpose of  making sales and building customer relationships Sales presentations Trade shows Incentive programs Personal selling is the most effective method at certain stages of the buying process,  particularity in building buyers’ preferences, convictions, actions, and developing  customer relationships More expensive than other forms of promotion Salespeople can add value, which makes the expense worth it. Sales Promotion A short­term incentive to encourage the purchase or sale of a product or service Discounts Displays Coupons Demonstrations Includes coupons, contests, cents­off deals, and premiums that attract consumer attention  and offer strong incentives to purchase, and can be used to dramatize product offers and  to boost sagging sales Can be aimed at both end user consumers or channel members Cons: reduction in the average price, therefore less revenue.  Direct M
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