COMMERCE 2MA3 Lecture Notes - Quality Management, Marketing Mix, Toothpaste
8 Dec 2013
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Document Summary
Blending of the four strategy elements (product, distribution, promotion and price) to fit the needs and preferences of a specific target market. Services intangible tasks that satisfy the needs of consumer and business users (e. g. haircut) Goods tangible products that customers can see, hear, smell, taste or touch (e. g. car) Makes up more than 70% of the economy with 75% of all employment. Services are intangible, inseparable from service providers and perishable. Buyers often play a role in the creation and distribution of services. Relationship of the service organization with its customers. Flexibility for customization and judgment on the part of the service provider. Demand and supply fluctuation (when demand is high, quality of service isn"t as good) Quality of service is the expected and perceived value of service. The point of interaction is the point at which customer and service prodiver interact. Tangibles physical evidence associated with the service (e. g. cleanliness) Reliability consistency of performance and dependability.
