Elective: Services Marketing Management (Part -2)

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Elective: Services Marketing Management (Part -2)

Attend any 4 questions.  Each question carries 25 marks

(Each answer should be of minimum 2 pages / of 300 words)

Q. 1.       What makes consumers or institutional buyers select and remain loyal to one service supplier over another? Explain

Answer:The central idea behind marketing is the idea that a firm or other entity will create something of value to one or more customers who, in turn, are willing to pay enough (or contribute other forms of value) to make the venture worthwhile considering opportunity costs. Value can be created in a number of different ways. Some firms manufacture basic products (e.g., bricks) but provide relatively little value above that. Other firms make products whose tangible value is supplemented by services (e.g., a computer manufacturer provides a computer loaded with software and provides a warranty, technical support, and software updates). It is not necessary for a firm to physically handle a product to add value—e.g., online

Q. 2.       Explain the need for Focus in Competitive Strategy.

Answer:A focus strategy is one business approach outlined by management expert and author Michael Porter in his "Generic Strategies" model. Cost leadership, differentiation and focus strategies are the three main general approaches the model suggests companies can use when attempting to leverage core business strengths to achieve competitive advantages. In any business strategy, competitive advantage must play a big role.

Strategy Basics: The cost leadership and differentiation strategies are recommended for businesses that have products or services with broad market appeal. Focus strategies are more useful for smaller companies or those with a more narrow or niche audience. Porter divided the focus strategy into two sub-strategies -- cost focus and

Q. 3.       Developing a positioning strategy can take place at several different levels, depending on the nature of the organization involved. Explain

Answer:

Q. 4.       Once a target segment has been selected, firms need to provide their market with the right service concept. Why? Explain.

Answer:

Q. 5.       Why consumers perceive service environments holistically?Explain

Answer:The growing presence of digital multimedia in everyday life, as evidenced by the continuing increase in Internet usage, is expected to augment or replace traditional modes of social and economic interaction. Face-to-face meetings, paperwork, and office-space are all expected to diminish in importance as cyberspace provides new facilities and interaction modes. In the higher education sector, distributed learning environments (DLEs) are being cited as solutions to the ambitious political goals of better education, wider access and lower costs. DLEs are still in their infancy however, and if they are to succeed in

Q. 6.       When should service markets consider the use of temporary promotions?Explain.

Answer:Promotion is one of the market mix elements, and a term used frequently in marketing. Fundamentally, there are three basic objectives of promotion:

·         To present information to consumers as well as others.

·         To increase demand.

·         To differentiate a product.

There are different ways to promote a product in different areas

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