Services: Characteristics, Challenges, and Classification
Explore the essence of services, their distinctive features, challenges faced, classifications, and strategic frameworks in the service industry to enhance your knowledge.
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Presentation Transcript
What is a Service? A service is any act of performance that one party can offer another that is essentially intangible and does not result in the ownership of anything; its production may or may not be tied to a physical product.
Difference between goods and services Higher intangibility Lack of ability to store them for future Greater interaction between customer and service provider Greater variability in service delivery Greater variability among service customer s expectations
Distinctive Characteristics/features of Services Intangibility- Tangibilize ?? Inseparability Variability Perishability
Overcoming Service Challenges Intangibility Use cues to make it tangible Inseparability Increase productivity of providers Physical evidence Services Variability Standardize service production & delivery Perishability Match supply and demand
Classification of services Individual Consumers B2B Industrial end Users End users Highly tangible Highly intangible Services linked to tangible goods Degree of Tangibility High contact Low contact People Based service Highly professional service Non Professional Expertise Required Non Profit Commercial Profit Orientation
The Services Triangle Service triangle is a strategic framework which visually reinforces the importance of people in the ability of firms to keep their promises and succeed in building customer relationships Company (Management) Internal Marketing Enabling the promise External Marketing Making the promise Employees Customers Interactive Marketing Delivering the promise
