Various factors affecting services marketing are as follows: 1) Size and Structure of the Firm: Usually, several service providers are specialized and work on a small scale such as lawyers, plumbers, accountants, carpenter, etc. Previously, they served the local community. …
The need for marketing the services is explained below: 1) Formation and Expansion of Job Opportunities: Due to the rising unemployment problem, it becomes quite necessary that new employment opportunities are generated through the new plans and policies. This fact …
Service is provided by the seller to the buyer in exchange for money (economic activity), but it does not provide the ownership of the services provided to the buyer, only values are exchanged. This is the feature that distinguishes services …
Major Service Businesses In India are as follows: 1) Education and Health Service Businesses: Schools, colleges, universities, and training centers are parts of the educational service sector. Various health services like nursing care facilities, home healthcare services, physician’s offices, hospitals, …
Services are the most significant element of different economic activities of a society. The economic model, shown in the figure given below was formulated by Dorothy Riddle while writing about the significances of the service sector in the development of …
Over the years, the service sector has seen an evolution in the type and quality of services offered to customers. Service providers have grown to realize that change is the only constant thing, and if they do not evolve with …
The various stages through which the service economy has evolved are as follows: 1) Pre-Industrial Stage: Life was characterized as a game against nature. Working with muscle power and tradition, the labor force had been engaged in agriculture, mining, and …
The service industry forms the backbone of the social and economic development of a region. It has emerged as the largest and fastest-growing sectors in the world economy, making higher contributions to the global output and employment. Its growth rate …
The significance of services can be understood with the help of the following points: 1) Upward Trend in the Disposable Income: Since the last ten years, the Indian customers are exhibiting an upward trend in disposable income. The transformation of …
In general, organizational products are a composition of goods and services. According to the goods-services continuum in the figure given below, some products may have either tangible (e.g., salt) or intangible (e.g., teaching) characteristics. However, some products provide both goods …