IBM 301 Lecture Notes - Lecture 12: Intangibility, Marketing Mix, Relationship Marketing
20 Mar 2019
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Document Summary
Service: the result of applying human or mechanical efforts to people or objects. Involve a deed, a performance, or an effort that cannot be physically possessed. Service-oriented industries that contribute to the u. s. economy. Technology, financial services, health care, and retail. Intangibility: the inability of services to be touched, seen, tasted, heard, or felt in the same manner that goods can be sensed. Search quality: a characteristic that can be easily assessed before purchase. Experience quality: a characteristic that can be assessed only after use. Credence quality: a characteristic that can be difficult to assess even after purchase as customers lack necessary knowledge or experience. Inseparability: the inability of the production and consumption of a service to be separated; consumers must be present during the production. Make consumers involved in the production of services they buy. Services cannot be produced in a centralized location and consumed in a decentralized locations, as goods typically are.
