Service Marketing - Marketing Of Different Services - Notes - Business Management, Study notes of Business Administration

Download Service Marketing - Marketing Of Different Services - Notes - Business Management and more Study notes Business Administration in PDF only on Docsity! MARKETING OF DIFFERENT SERVICES CLASSIFICATION OF SERVICES The following charts visualize various classes of services along with the organizations that provide them. Consumer Services Services Organisations Food Eating-joints, restaurants, fast- Boarding and Lodging Dharmashalas, hotels, motels Beauty and Fitness Beauty parlours, fitness centres, gyms Medical Nursing homes, dispensaries, hospitals Post Sales Garages, company stations Entertainment Cinema, clubs, amusement parks Communication T.V., radio, Internet Transport Ships, steamers, buses, rails, aeroplanes Transport Transport houses, etc.; buses, rails, aeroplanes, ships Financial Finance companies, banks Insurance Insurance companies There is a tremendous market for services in the large scale, medium scale and small scale sector as well. A partial list of services is given below. TYPE OF SERVICE OPERATIONS- PARTIAL LIST Transportation services F 0 B 7 R ailw ay F 0 B 7 Airli nes F 0 B 7 Local passenger transportation F 0 B 7 Inter-state passenger transportation F 0 B 7 Road transportation F 0 B 7 Helicopter service F 0 B 7 Private aircraft services F 0 B 7 Water transportation Public utilities services F 0 B 7 Water supply services F 0 B 7 Electric supply F 0 B 7 Gas supply Communication services F 0 B 7 Telephone F 0 B 7 Postal and Courier F 0 B 7 Radio and TV broadcasting F 0 B 7 Telecommunication F 0 B 7 Tele-conferencing F 0 B 7 Satellite Trading services F 0 B 7 Wholesaling and Retailing Financial and Insurance services F 0 B 7 Banking Government provided services F 0 B 7 Infrastructure F 0 B 7 Defense F 0 B 7 Police F 0 B 7 Transport F 0 B 7 Broadcasting F 0 B 7 Education F 0 B 7 Medical and others Engineering services F 0 B 7 Equipment inspection F 0 B 7 Designing F 0 B 7 Construction design F 0 B 7 Architectural F 0 B 7 Facility planning F 0 B 7 Technical research F 0 B 7 ERP Entertainment services F 0 B 7 Motion pictures F 0 B 7 Video parlours F 0 B 7 Game parlours F 0 B 7 Theme parks F 0 B 7 Security F 0 B 7 Public relations F 0 B 7 Land scaping / Lawn care F 0 B 7 Printing F 0 B 7 Data processing F 0 B 7 Speech writing F 0 B 7 Professional speaking F 0 B 7 Educational F 0 B 7 Training F 0 B 7 Travel related F 0 B 7 Courier F 0 B 7 Health and hospital F 0 B 7 Equipment rental F 0 B 7 Interior designing F 0 B 7 Laundry and cleaning F 0 B 7 Computer programming F 0 B 7 Personal grooming F 0 B 7 Fax F 0 B 7 Old age homes F 0 B 7 Ware housing F 0 B 7 Window dressing F 0 B 7 Repair and maintenance F 0 B 7 Home-help 1. FINANCIAL SERVICES BANK MARKETING The banking industry is undergoing a revolution caused by deregulation. The causes for bank marketing can be seen as: - rising customer needs and expectations due to improvements in general standard of living - entry of foreign and private sector banks in India The way ICICI Bank has promoted itself to become a leader in consumer perception has few parallels in the Indian service industry, especially when you consider the fact that it was earlier a staid development bank in the unglamorous business of project financing, and significantly owned by the government. At least in the public perception, it was a typical government bank, until it literally changed its colours to an attractive orange- red. Along with a spanking new logo, and aggressive marketing which included print, television, and personal selling through mailers and telemarketing, the ICICI Bank almost blanketed the landscape and the consumer‟s mind space in the years 2000-02, to emerge as a leading player in the retail banking industry. From an NBFC to a Bank: Kotak Mahindra’s Strategic Shift Kotak Mahindra, which has started as an NBFC (non- banking financial services company) and has now become a bank. A major paradigm shift is taking place in the way corporate finance is structured. Traditionally, banks in India approached corporate and said “here is our bag of money”. I don‟t think that is sustainable any longer. You have to go to the supply chain and look for gaps. If you take the automobile sector, for instance, we are end-to- end providers. We have done car financing at one end of the retail chain. Now we are going to the other end, financing the ancillary units and suppliers. We do about Rs. 2,000 crore of car financing a year. At any point of time, we have about Rs 300 crore of dealer finance. We do about Rs. 1,000 crore of commercial vehicle financing. We are targeting another Rs. 500 crore at the auto ancillary unit level. The total churn or the transaction volumes in the auto sector would be in excess of Rs. 5,000 crore a year. We are number three in auto financing, behind ICICI and HDFC Bank. As a vertical, it is a large part of our balance sheet. deposits but also by investment products. We see this as a stronger model. If you have Rs 100, you‟ll put Rs 80 in various products but leave around Rs 20 in the SB account. We need to capture that and make it grow bigger. There is a fundamental change happening, globally. Most banks have been focusing on the stock of money. Now it is moving to the flow. Money is becoming more mobile. If you look at the nationalised banks, it is all focused on the stock. The trick to get stable money for us, is to be in the middle of the flow. As we do have more of investment products, and keep on the churn, some part of the flow will keep on getting left behind and the residue will gradually grow. Other banks, which are focused on the stock, may not be able to hold on to it. INSURANCE MARKETING The term insurance marketing refers to the marketing of insurance services with the motto of customer-orientation and profit-generation. A fair blending of profit-generation and customer-satisfaction makes the ways for development and expansion. The insurance marketing focuses on the formulation of an ideal mix for the insurance business so that the insurance organisations survive and thrive in a right perspective. The quality of services can be improved by formulating a fair mix of the core and peripheral services. The persuasion process can be speeded up with the support of creative promotional measures. The premium and bonus decisions can be made motivational, the gap between the services- promised and services-offered can be bridged over, the quality and valuebased personnel can make possible performance-orientation and these developments can make the insurance organisations stronger enough to face the challenges and threats in the markets. It is meant managerial proficiency, which makes an assault on unethical and unfair practices by