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short questions - midterm-key concepts.pdf

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Ryerson University
MKT 723
Jane Saber

Short Question Notes HIIPHeterogeneity Intangible Inseparable Perishable DEFINITION Services represent an integral part of many products and the correlation of goods and services is represented on a goodsservices continuum DESCRIBE Theory The increasing importance of the service market in the economy has brought about a change in the definition of goods and services No longer are goods considered separate from services Rather services now increasingly represent an integral part of the product To understand the services marketing mix framework its necessary to understand the nature of services HETEROGENEITY also known as variability describes the uniqueness of service offeringsExample Big Macs at McDonalds All Big Macs may be almost identical and mass produced but the same is not true for the services rendered by the staffWhile products can be homogeneous and mass produced the same is not true of services The term heterogeneity describes the uniqueness of service offerings also known as variability In other words services are generated rendered and consumed at one time The service can never be exactly repeated as the same point in time location or circumstances or with the same configurations or resources even if the same consumer requests the same service Many services regarded as heterogeneous are typically modified for each consumer or situation For example the taxi service that transports the consumer from his home to the opera is different from the taxi service that transports the same consumer from the opera to his home Each trip involved a different point in time another direction and maybe another route taxi driver or car Given that services are heterogeneous it is essential that each and every customer receive excellent service Heterogeneity of service quality does not imply that no two customers can receive great service it just means that no two transactions can be repeated identicallyINTANGIBILITY A defining characteristic of a service is that it is intangibleit is not something physical that you can see touch or tasteExample Teacher and Student Teachers provide a service that is intangibleIntangibility is used in marketing to describe the inability to assess the value gained from engaging in an activity using any tangible evidence It is often used to describe services where there isnt a tangible product that the customer can purchase that can be seen tasted or touched This is the most defining characteristic of a service that differentiates it from a product When a customer is buying a service he perceives a risk related
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