KNES 472 Lecture Notes - Lecture 2: Marketing Myopia, Intangibility
Document Summary
Focus on producing and selling goods and services rather than identifying and satisfying the needs and wants of consumers. The belief that winning absolves all other sins. A short-sighted focus, e. g. , focusing on corporations only while forgetting smaller organizations and families. Lack of market research: less than one third college teams conduct surveys, poor sales techniques: lack of training, tactics, and use of part time or interns to take important positions. Uniqueness of service marketing: (1) intangibility - most services cannot be experienced or consumed until the purchase is made. Customers have strong expectations about how a service will be provided, which can lead to disappointment if their expectations are not met. (3) perishability a service cannot be put on the shelf and used the next day. It expires at a particular date and time and must be consumed on site.
