Services marketing: trends, challenges and strategies

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Services marketing: trends, challenges and strategies

B.SURESHBABU

Asst professor,

Dept of Management Studies, Senthamarai College of Arts& Science,

Madurai-21.

The services sector contributes the most to the Indian GDP, The sector of service in India has contribute due share in the countrys GDP It posted more than 50% .The various sectors that combine together contribute service industry in India are Trade, Hotels and Restaurants, Railways, other Transport communication including postal and Telecommunication, Banking, Insurance Real Estate, Professional Services and other Services. Almost all services sectors participated in this boom and growth, We need not tell about challenges to the ServicPeople because almost all businesses belongs in service sector, So the success of the service marketers depends on how they are made physical evidence, excellent service quality for their services. This Article focused towards services Sector Trends, Challenges and Strategies

I.Introduction

Emerging national economic scenario is the gift of services sector which has significantly contributed to the process of national economic transformation we have enormous opportunities for the development of services Sector and therefore our professional excellence must be of global standard. On the one hand We have to make the way for the development of conventional services sector .While on the other hand We also need to develop the areas like tourism, consultancy, courier, mass communication, Retail IT, Transportation, Hospital, Hotel, Healthcare, Education and portfolio management. In the age of LPG Scenario services sector dominated by challenges, trends and strategies A.TRENDS IN SERVICES MARKETING

  • Innovation and commercial efficiency

Services sector must pursue all potential sources of revenue product innovation has to be accompanied

with faster time to time market for instance innovation make tremendous

Changes In Transportation OTA (Online Travel agents) have gone beyond online travel to provide end –

To-end travel and holiday planning solutions .Innovation is the need of the hour cross selling of

Products is on the rise .Again OT have to engage with customers and listen to what they has to say

There is a need to make inroads into the customers life without being intrusive and understand

Their needs better all this and more has contributed to India becoming the worlds second faster

Growing travel market globally today with an expected compounded annual growth rate of 10.2

Percent over the next 10 years Improved commercial efficiency demands continually evolving

distribution models and more professional staff .the penetration of new markets requires an agile

and pragmatic policy of partnerships, joint ventures or acquisitions

  1. QUALITY OF SERVICES AND OPERATIONAL EXCELLENCE

    A majority of us believe that services quality is more a function of attitude rather than of technology by now it appears just a myth .An individual o an institution succeeds in thriving if they do

    Not fix any boundary for service quality .service quality satisfaction becomes essential to retain the existing customer and attracting new customers .Today Telecommunication services taking almost care in service quality .in terms of offering recharge facilities ,network coverage etc..

    In all services sector upgrade IT systems in order to improve the quality.

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  2. EXPANDING SPHERE

    Two decades before services sector focused the only on city sides because due to the lack of infrastructures. Today Telecommunication sector focused more on rural areas to capture the more customers

  3. ACCELARATING EXPORTS

Exports is the separate avenue to gain more sales and profits Today we are living in the LPG world Therefore services sector like telecommunication ,Healthcare, Tourism make use of the export

Opportunities to increase GDP as well as their income.

II.SERVICES MARKETING

CHALLENGES

Making, liquating and profiting with both product and services businesses are challenges making physical evidence for their product and services are more difficult to the service people services products cant be stored like as manufacturing p products like that challenges having faced by the services sector

  1. Clients cants see o touch services before they purchase them According to CARMAN AND UHL ,a buyer of a products have an opportunity to see ,touch,hear,smell them before they buy of course we dont find the same thing with the services product it is a challenge to the services people. As for example, the banking organisationspomote the sale of credit cards by visualizing the convenience and comports the holders of the credit cards are likely to get from the same. Thus it is right to mention that due to intangibility, the selling of services become much more

    challenge

  2. Services are must consumed while produced

    It is a special challenge in services marketing, in the case of manufacturing products can be stored till consumed by the buyers but services production should be done with customer presents, it is creating a very different and challenging dynamic

  3. Resources cannot fully utilized

Services products produced when the presence of clients, Hence, the resources remain ideal

If the clients are not coming it makes more challenge in the services marketing to ensure quality and

Competitive price.

D.Lack of well-developed networks and infrastructure

The biggest challenge to the services marketing are supply related issues pertaining to distribution and infrastructure .The lack of well developed distribution networks makes it especially

Challenging to penetrate the fast growing areas .in addition, regular power cuts and poor road

Linkages make more challenges.

E. New marketing platforms

Consumers has evolved with times ,while conventional media continues to be important, focus for change is on new media such as the internet and mobile phones .These form an important part of

The consumes search process in the buying process and therefore services marketing companies are increasing investments behind online marketing.

III-SERVICES MARKETING STRATEGY

We consider strategy an integrated and coordinated set of commitments and actions designed to exploit our potentials and gain competitive advantage .the success of the services marketing depends upon the make use of the services marketing mix in a right blend

  1. PRODUCT

    Services are intangible, therefore is often difficult to understand the quality and quantity in advance. An effective way to geneate confidence is to highlight the tangible aspects. Banks are issuing credit cards as tangible element of their credit facilities.

  2. PRICE

It draws the attention of service users and service providers it may not be same by all service provides. There are number of factors influencing the pricing strategy .Airline services pay more attention in fixing the price to attract more customers because it is perishable in nature

IV. PROMOTION

Promotion is the life blood of services marketing then other businesses, because it is having intangible nature products the effective promotional tools can take the services to the prospective consumers, aggressive advertising campaign INCRETIBLE INDIA By Tourism Ministry has played a major role in changing the image of India from that of the land of snake carmers to a hot and happening place and has sparked renewed interest among foreign travelers.

  1. Place/Distribution

    High contact services have to be distributed directly because consumer and supplier have to meet Economics of scale can be achieved by using indirectly distribution with computer- based technology such as travel agents and ATMS.

  2. People

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All people involved either directly or indirectly of the consumption of a service is important .People can add a significant value to a service offering .People sell the service and either make or break the marketing of the service you offer. Its time to take a look at the faceof your service and evaluate.

  1. Physical Evidence

    The way that service is delivered needs to be communicated and followed through. You are creating an intangible experience so communication and documentation is the only physical evidence you have to share with your consumer. Make sure you are doing enough of it.

  2. Process

Procedure and flow of activities of how services are consumed is an essential strategy in marketing services. Everything must run smoothly to keep the trust of the consumer.

REFERENCES

  1. SERVICESMARKETING DR.S.M.JHA HIMALAYA PUBLICATION

  2. THE HINDU INDUSTRIAL SERVEY REPORT 2012

  3. KOTLER, P. MARKETING MANAGEMENT: ANALYSIS, PLANNING, IMPLEMENTATION, AND CONTROL, 8TH EDN. HIMALAYA PUBLICATION

  4. PARASURAMAN, A., ZEITHAML, V.A., AND BERRY,

    L.L. A CONCEPTUAL MODEL OF SERVICE QUALITY AND ITS IMPLICATIONS FOR FUTURE RESEARCH. JOURNAL OF MARKETING.

  5. WWW.GOOGLE.CO.IN

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