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Marketing Mix: Name-Archana Kulkarni Class-MBA-II Roll No-41 Subject-Service Marketing

This document discusses the marketing mix for service marketing. It defines service marketing and the 7 Ps of the marketing mix - product, price, place, promotion, people, process, and physical evidence. For each P, it provides examples and brief explanations of how they apply to service marketing. The marketing mix is an important business tool for marketers to determine the offer for a product or brand.

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Archana Kulkarni
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73 views11 pages

Marketing Mix: Name-Archana Kulkarni Class-MBA-II Roll No-41 Subject-Service Marketing

This document discusses the marketing mix for service marketing. It defines service marketing and the 7 Ps of the marketing mix - product, price, place, promotion, people, process, and physical evidence. For each P, it provides examples and brief explanations of how they apply to service marketing. The marketing mix is an important business tool for marketers to determine the offer for a product or brand.

Uploaded by

Archana Kulkarni
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Marketing Mix

Name-Archana Kulkarni
Class-MBA-II
Roll no-41
Subject-Service Marketing
DEFINITION-
 Service Marketing is the science of meeting the needs of a customer
by providing valuable products to customers by utilizing the expertise of
the organization, at same time, to achieve organizational goals.
 The marketing mix is a business tool used in marketing and by
marketers. The marketing mix is often crucial when determining a
product or brand's offer
7 P’s of Marketing-

1.Product

2.Price

3.Place

4.Promotion

5.People

6.Process

7.Physical Evidence
Product-
 A product or service is said to be a good that fulfills customers needs.

 What does the customer want from the product/service?

 What needs does it satisfy?

 The product in service marketing mix is intangible in nature. Like physical


products such as a soap or a detergent, service products cannot be
measured. Tourism industry or the education industry can be an excellent
example.

 At the same time service products are heterogeneous, perishable and cannot
be owned.
Price-
 Pricing in case of services is rather more difficult than in case of
products. If you were a restaurant owner, you can price people only
for the food you are serving. But then who will pay for the nice
ambiance you have built up for your customers? Who will pay for
the band you have for music?

 Thus these elements have to be taken into consideration while


costing. Generally service pricing involves taking into consideration
labor, material cost and overhead costs. By adding a profit mark up
you get your final service pricing.
Place-
 Place in case of services determine where is the service product
going to be located. The best place to open up a petrol pump is
on the highway or in the city. A place where there is minimum
traffic is a wrong location to start a petrol pump. Similarly a
software company will be better placed in a business hub with a
lot of companies nearby rather than being placed in a town or
rural area.
Promotion-

 Promotions have become a critical factor in the service marketing


mix. Services are easy to be duplicated and hence it is generally the
brand which sets a service apart from its counterpart. You will find a
lot of banks and telecom companies promoting themselves rigorously.

 Why is that? It is because competition in this service sector is


generally high and promotions is necessary to survive.
People-

 People is one of the elements of service marketing mix. People define a


service. If you have an IT company, your software engineers define you. If
you have a restaurant, your chef and service staff defines you. If you are
into banking, employees in your branch and their behavior towards
customers defines you. In case of service marketing, people can make or
break an organization.
Process-
 Service process is the way in which a service is delivered

to the end customer.

 the process of a service company in delivering its product is of utmost

importance. It is also a critical component in the service blueprint,

wherein before establishing the service, the company defines exactly

what should be the process of the service product reaching the end

customer.
Physical Evidence

 The last element in the service marketing mix is a very important


element. As said before, services are intangible in nature. However, to
create a better customer experience tangible elements are also
delivered with the service.

 Several times, physical evidence is used as a differentiator in service


marketing.

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