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Chapter 1

Chapter 1 BU412.docx

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Wilfrid Laurier University
Lisa Giguere

BU412Chapter 1Introduction to Services MarketingWeek 1Why Study ServicesServices Dominate the Economy in Most NationsThe size of the service sector is increasing in virtually all countries around the worlda trend that applies to both developed and emerging economies Most New Jobs are Generated by ServicesNew job creation comes mainly from services Services are being introduced all the time Companies are shifting to be service providersEx IBM Rolls RoycePowerful Forces are Transforming Service MarketsGovernment policies social changes business trends advances in information technology and globalization are among the powerful forces transforming todays service markets These forces together influence the competitive landscape and the way customers buy and use services What are ServicesBenefits without OwnershipServices focus on the lack of transfer of ownership when buying a serviceEx Staying in a hotel Services involve a form of rental through which customers can obtain benefits What customers are value and are willing to pay for are desired experiences and solutions Five broad categoriesLabour skills and expertise rentalspeople are hired to perform work that customers either cannot or choose not to do themselves Ex Car repair Rented goods servicesallows customers to obtain the exclusive temporary right to use a physical object that they do not own Ex Boats Defined space and facility rentalscustomers obtain the use of a certain portion of a larger facility such as a building or vehicle Ex Seat in an airplane Access to shared facilitiescustomers rent the right to share the use of the facility Ex Theme parks toll roads Access and use of networks and systemscustomers rent the right to participate in a specified network Ex Telecommunications utilitiesThe difference between ownership and nonownership affects the nature of marketing tasks and strategies Defining ServicesServices are economic activities offered by one party to another Often time based these activities bring about desired results to recipients objects or other assets In exchange for money time and effort service customers expect value from access to labour skills expertise goods facilities networks and systems However they do not normally take ownership of the physical elements involved Four Broad Categories of Servicesa Process PerspectiveIn services people physical objects data and information can be processedThe four broad categories of service are people processing possession processing mental stimulus processing and information processing People ProcessingServices directed at peoples bodies Service production and consumption are simultaneous which means that the customers
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