Management and Organizational Studies 2320A/B Chapter Notes - Chapter 10: Micromarketing, Shortage

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Brands help add tangibility, a crucial component for service companies. Finding an keeping employees who deliver outstanding customer service is another key to success for services companies. Firms engaged primarily in selling a product, such as apparel stores, typically view service as a method to maintain a sustainable competitive advantage. Economies of developed countries have become increasingly dependent on services. Service sector makes up more than 70% of canada"s economy. The dependence and the growth of service oriented economies in developed countries have emerged for several reasons: Generally less expensive for firms to manufacture their products in less-developed countries. Household maintenance activities, which many people performed by themselves in the past, have become quite specialized. People place a high value on convenience and leisure. The marketing of services from product marketing because of 4 fundamental differences unique services: they are intangible, inseparable, variable, and perishable. Marketing services is more challenging than marketing products.

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