However, besides these four typical characteristics of services, there are other features . In order to develop effective service marketing strategies, it is imperative that marketers understand these differences. Contrary to services, physical goods are produced, then stored, later sold, and even later consumed. Characteristics Of Services A service is an act or performance offered by one party to another. Services tend to exhibit four described characteristics, yet any speci c service displays a di erent combina tion of each of these factors. Its production may or may not be tied to a physical product. In this article we discuss seven characteristics of services. With the growing competition of services in the global market, service marketing achieves the great importance making it a separate subject to be studied. There are several characteristics of services which differentiate a service from a product. A2A. 8 Elements of Service Marketing. Characteristics of Services Most products have components of both goods and services inherent to their purchase. Service marketing emerges as a separate field of marketing in the 1980s keeping in view the unique and different characteristics of economic services from tangible products. For exa mple, a fast-food service is standard- To successfully market a service business, it is important to understand the eight elements of service marketing: place, people, knowledge, value, relationships, problem-solving, specialization and product. Service – definition and characteristics of a service. There are characteristics of services that differentiate it from a product (tangible good). In this solutions you will learn about the unique characteristics of service marketing, which guide marketers in developing service marketing … Products are physical things whereas services are considered as intangible things. Introduction to Service Marketing Strategies. Characteristics of Service Marketing. A person who pays for a massage will not see the effects of massage till the time the massage is done […] A service is anything which can be offered to the customers in order to satisfy their need, wants and desire and intangible, inseparable, variable and perishable in nature. This can be as simple as a mailing address to return a defective product, or a huge facility equipped to respond to varying needs, such as an auto dealership with an attached service department. Whether you offer services or if you are thinking about doing so, you should know that the way of doing service marketing has a series of different peculiarities to the sale of products. This has to do mainly with the characteristics that the services have. Since, service is an intangible product and has unique characteristics like heterogeneity, intangibility, perishability and inseparability, the new elements of the marketing mix were closely worked upon to match the service sectors in a valuable manner. These are Perishability, Heterogeneity, Intangibility and ownership. Service marketing tends to be different from marketing of manufactured goods. 2. 3. If your business sells services you need to take account of each of the characteristics in all aspects of your marketing. Also, it poses a unique challenge to those engaged in marketing a service as they need to attach tangible attributes to an otherwise intangible offering (Management Study, 2008). Service marketing. Marketing - Marketing - Services marketing: A service is an act of labour or a performance that does not produce a tangible commodity and does not result in the customer’s ownership of anything. 11 The Intangibility of Services (I) It refers to the total lack or perception of a service’s characteristics before and (often) after it is performed The term was first used in 1963 (Regan) It is the most radical characteristic of services, where from the others emanate Marketing implications Great marketing skills in tangibilising intangible offerings, i.e., in Define service marketing. You may already know that a service is intangible – something you experience, but can’t touch, see, taste or hear. They are economic activities that create value and provide benefits for customers at specific times and places as a result of bringing desired change. We can touch products whereas services cannot be touched. What are the different marketing strategies adopted by the service firms? 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