Flashcards in Introduction, Services and Service Marketing (7) Deck (30)
As consumers, we are increasingly opting for ______ over ______ to satisfy our needs and desires.
Not too many years ago we would purchase movies on DVD or music on CDs. Now, most of us consume entertainment through streaming services.
Services make up a major and ________ part of the economies of most developed nations.
Services are prominent in the economies of...
most developed nations
Adding a service component to what are traditionally product sales is a strategy that is providing a...
competitive advantage to many companies
Do services have different characteristics than products?
Because services have different characteristics than products, the marketing of services requires a different approach than does product marketing.
To listen to most politicians talk, you might conclude that _________ is the most important part of the economy in the United States.
they express a lot of concern about manufacturing that goes overseas, and they celebrate when a manufacturer expands domestically.
which is a smaller sector of the economy: manufacturing sector or service sector?
manufacturing is not forecasted to grow either
What is the largest economic driver of economic activity in the United States?
the importance of services continues to grow.
he U.S. Census Bureau’s Bureau of Economic Analysis reported services jobs account for over _____ percent of private-sector employment in the U.S.
The U.S. enjoys a _______ in services trade, with the services sector accounting for about one-third of total U.S. ________
How much does the service sector generate in U.S. exports?
1/3 of U.S exports
Businesses and consumers alike purchase and use a lot of services, and this creates _______ for marketers that understand how to promote them.
What are some examples of active services?
- ordering a smoothie from a smartphone app
- online marketing textbook
- A college class
What is a definition for services?
are intangible products, often purchased with physical goods
Services are _______ products, often purchased with physical goods
Services are delivered in the form of ____ or _______ performed on behalf of or with the customer.
What can services be provided or produced by?
- a person, or increasingly, technology, for the benefit of a person.
services are provided for the _______ of a person
What industries are in the service sector?
Accounting, such as tax preparation services
Banking, such as a checking account or an ATM
Cleaning, such as the Merry Maids house cleaning services
Education, such as pre-school for a toddler or a graduate degree program
Insurance, such as home, life, health or auto
Medical and dental, such as an annual physical or having a cavity filled
Transportation, such as Uber or a municipal mass transit system
Services are often delivered alongside the purchase of a _____ product or good.
Restaurants are, by definition, services businesses, even though we get a tangible benefit in the form of food. A medical diagnosis (the service) often results in a prescription (a good).
It is increasingly rare for consumers to purchase only....
why are bundling products and services on the rise?
because it provides the seller with a competitive advantage, and customers get more value this way.
What is a good example of how consumer product purchases are becoming hybrid product/service purchases?
Walmart grocery pickup
The grocery business is one that has thin profit margins. Grocers hope to offset the low margins with volume sales. Walmart is now selling groceries (products) online and providing pickup services, allowing volume growth by gaining share from grocers that don’t offer this service.
Product marketing has a lot to do with _______ the product, identifying the ideal ______ customer, and effectively ________ its features, advantages, and benefits.
positioning, target, communicating
Customers can evaluate products by their physical properties because...
products are tangible
Services usually consist of a person performing a _____ for the ______ of a customer.
When we market services, we are often marketing the....
people who perform the service.
In the 7-P's marketing mix which P does service fall under?
Services marketing is the process of...
planning, delivering, and then improving the individual service acts and performances that create memorable experiences when satisfying a buyer’s needs.