Marketing in services : Identify the unique characteristics of services and brie

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Explanation / Answer

Characteristics of service:

Services are Intangible:

Unlike products, we cannot feel a service physically. There is no shape or defined structure for a service. In case of products from the features or specification, one can feel the quality of the product and decide whether to buy it or not, but in case of service, one has to experience it or hear the experience from others to decide upon it.

Services are perishable:

Once a service provided to any customer it becomes perishable. We cannot store services in a period of time. For example, a hairdresser if loose customer due to high rush it can not regain back in that period of time so it is highly perishable.

Services are inseparable:

We cannot transfer service offered to us to our friends or family or any other person. We have to consume the service offered to us and we can not enjoy it in a later period of time.

Services are having no-owner

Services cannot be owned by someone, unlike products. Only a customer can access and enjoy the service. For example in a bank to deposit money we need to access the bank and we can not take the bank or cashier to home for getting the service.

These characteristics significantly affect the way of marketing because one has to think differently when designing a marketing strategy of service. The marketing of service should keep on eye these characteristics and offer a customer the highest quality offer within the period of time the service is getting availed. Unlike products, the customer can't take a service with it so, when marketing the service we need to focus on the quality of service or meet the service level that is going to be offered.

Similarities between marketing product and service:

Features in products as well as service-

Like products are having different features attached to it services also can be promoted with different extra features added to a general service like privileged customer service, home service etc to attract more number of customers to the offering.

Competitive price:

Like products the service also should be marketed along with a competitive pricing strategy to increase the market share. For example, when we avail any transportation service we always opt for the cheapest one and providing every comfort at the least cost.

Distribution Channel

Like products, services can be also sold in various modes. We can avail banking services through the internet as well as physically in banks.

Promotion

When we launch a product or service we have to promote both the things in a similar manner and we need to focus on that extra feature which is added to our product or service to attract the customers.

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