Marketing of Services An Introduction to the Course

Marketing of Services ~ An Introduction to the Course Dr. Banasree Dey Jaipuria Institute of Management

Agenda n Course Outline Discussion n Discussion of Evaluation Criteria n Marketing in the Service Economy

Course Outline n Mod 1: Introduction to Services n Mod 2: Consumer Behavior in Services n Mod 3: Designing and Delivering Service Promises n Mod 4: Service Quality n Mod 5: Issues and Trends in Service Business Management

Evaluation Criteria S. no. Criteria Weightage (%) 1 Quizzes (best two out of three) 10 2 10 4 Class Participation and Reflective notes Project (Presentation + Report) Mid-term Exam 5 End-term Exam 40 3 20 20

Project n For the project, one service sector would be allotted to each group. Each group is required to select one company in their allotted service sector and collect data (both secondary and primary sources) regarding this company. This data would enable you to prepare a report on the company which would include the following aspects: n Brief overview of the sector Major players in this industry Current trends in relation to that sector Specific challenges faced in this sector What opportunities do you see in this sector? Company overview Create a Service Process Blueprint for any process in the firm Identify the service encounters / moments of truth in this Marketing strategies Provide recommendations to improve service delivery n n n n n Each group would present the project report prepared by them during the 21 th and 22 st sessions as mentioned in the Session Plan.

Project Deadlines Sl. No. 1. Description of activity Important dates 2. Submit the name of the company 3 rd session selected by you 1 st Progress Report 10 th session 3. 2 nd Progress Report 15 th session 4. Report 20 th session 5. Presentation 21 and 22 th sessions

Why talk about Services ? ?

GDP - composition by sector Agriculture: 5. 9% Industry: 30. 7% Services: 63. 4% (2012 est. ) Source: http: //www. indexmundi. com/world/gdp_composition_by_sector. html

GDP - composition by sector (India) Agriculture: 17. 4% Industry: 26. 1% Services: 56. 5% (2012 est. ) Source: http: //www. indexmundi. com/india/gdp_composition_by_sector. html

“Any major economy that isn’t competitive in the services sector isn’t competitive internationally” Welfrum Grubler, Economist

We will talk about….

n Branding n Innovative Ideas n Unique experiences n Successful models n Marketing of services ……Challenges, opportunities and trends

n India stands at the forefront of today’s global spa and wellness market, alluring domestic and global visitors alike with the time-honored traditions of Ayurveda and yoga and high quality, affordable medical tourism. n Pw. C valued India’s total wellness market at 590 billion Indian rupees ($9. 6 billion) in 2011 and forecasted that it would surpass 1 trillion Indian rupees ($16. 3 billion) during the next four years. Consumer Trends…. . ……the backdrop of a deeply ingrained traditional wellness culture, the preferences and attitudes of modern Indian spa consumers are now evolving. They are savvier about the quality and value of products and services they purchase and are more open to experimenting with new and different offerings. Not only do they visit spas for hair maintenance, nail grooming, skin care and beauty treatments, but, with greater societal awareness about stress, obesity and other serious health issues, guests are looking to spas for evidencebased, results-driven solutions.

Service Firms in India are using disruptive innovation…. In 1995, a Harvard Business School professor named Clayton Christensen first wrote about what he termed disruptive innovation: “A process by which a product or service takes root initially in simple applications at the bottom of a market and relentlessly moves up the market, eventually displacing established competitors. ”

Group-wise Allocation of Service Sector

Do not forget to complete your reading: ‘Marketing Intangible Products and Product Tangibles!! Thank You