17184716 031109 International Marketing Services Marketing Iii 4
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International Marketing & Services Marketing - III Ch 17 Ch 20 Ch 23 Ch 24 Ch 25 Ch 26 Ch 27
July 7, 2009
Relationship Marketing Developing and Managing the Customer Service Function Globalization of Services Tourism & Travel Services Marketing-Tourism Marketing of Financial Services-Banking Communication & Info Services Marketing-Telecom Media Services Marketing-Broadcasting
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Pg 241-260 Pg 287-302 Pg 331-348 Pg 352-358 Pg 370-375 Pg 391-398 Pg 409-413
19 15 17 6 5 7 4
Download Presentation From www.integrysme.com/ICFAI
A . Ch 17 • • • • • • • •
Relationship Marketing
Relationship Marketing Defined Benefits of Relations Marketing’s Relationship Marketing and Transaction Marketing Six Markets Model Strategy in Relations Marketing Management Retention Strategies Recovery of Customers Communication and Relationship Marketing
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
A . Ch 17
Relationship Marketing
Relationship Marketing Defined Berry and Parsuraman – Relationship marketing is attracting maintaining and in multiservice organizations – enhancing customer relationship. Benefits of Relations Marketing’s 7.Benefits for the Firm 8.Benefits to the Customers Relationship Marketing and Transaction Marketing 12.The method of marketing in which a service organization or its employees communicate with the customer only when he approaches it for service called Transaction Marketing. 13.When a service organization seeks to establish and maintain a long term relationship with its customers, it is known Relationship Marketing.
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
A . Ch 17
Relationship Marketing
Six Markets Model A Service Organization needs to maintain good relations with 6 Constituencies: • • • • • •
Customer Markets Internal Markets Supplier Markets Referral Markets Recruitment Markets Influence Markets
Adrian Payne (1991) from Cranfield University goes further. He identifies six markets which he claims are central to relationship marketing. They are: internal markets, supplier markets, recruitment markets, referral markets, influence markets, and customer markets. Referral marketing is developing and implementing a marketing plan to stimulate referrals. Although it may take months before you see the effect of referral marketing, this is often the most effective part of an overall marketing plan and the best use of resources. Marketing to suppliers is aimed at ensuring a long-term conflict-free relationship in which all parties understand each others' needs and exceed each others' expectations. Such a strategy can reduce costs and improve quality. Influence markets involve a wide range of sub-markets including: government regulators, standards bodies, lobbyists, stockholders, bankers, venture capitalists, financial analysts, stockbrokers, consumer associations, environmental associations, and labor associations. These activities are typically carried out by the public relations department, but relationship marketers feel that marketing to all six markets is the responsibility of everyone in the organization. Each market may require its own explicit strategies and a separate marketing mixes for each.
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
A . Ch 17
Relationship Marketing
Strategy in Relations Marketing Management Sequence in which organizations formulate their strategy is: 5. 6. 7. 8.
Mission and Vision SWOT Analysis Strategy Formulation Strategy Formulation
Quality and Relationship Marketing
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
A . Ch 17
Relationship Marketing
Retention Strategies 3. 4. 5. 6. 7.
Four Level Retention Strategies – Financial Bonds, Social Bonds, Customization Bonds, Structural Binds Monitor Relationships Value Addition to the Service Increased Customer Contact Enhanced Customer Service
Recovery of Customers Guidelines to be followed by the management while developing a service recovery system: 13. 14. 15.
Track and Anticipate Recovery opportunities Solve the problem quickly Train and empower frontline employees
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
A . Ch 17
Relationship Marketing
Communication and Relationship Marketing The 4 R’s of Rewarding relationships 5. 6. 7. 8.
Relationship Realization Response Relevance and Respect
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
B. Ch 20 Developing & Managing the Customer Service Function 1. 2. 3. 4. 5. 6. 7.
Customer Service Definition Improving Customer Service Technology to Improve Customer Service The Customer service Management Cycle Offering Supplementary Services in Addition to Core Services Enhancing Customer Services Through Improved Service Delivery Process Steps to Implement an Effective Customer Service Program
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
B. Ch 20 Developing & Managing the Customer Service Function Customer Service Definition •
Customer Service is the ability of an organization to constantly and consistently give the customer what they want and need.
•
According to Turban et al. (2002), Customer service is a series of activities designed to enhance the level of customer satisfaction – that is, the feeling that a product or service has met the customer expectation.
•
Lovelocks Definition – Task oriented activities, how they should be designed, performed and communicated.
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
B. Ch 20 Developing & Managing the Customer Service Function Improving Customer Service Take the following steps 5. 6. 7. 8.
Divide the basic service into separate service activities Conduct periodic surveys Provide necessary infrastructure and advance technology Track changes in the external environment
Technology to Improve Customer Service
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
B. Ch 20 Developing & Managing the Customer Service Function The Customer service Management Cycle Stage 4. 5. 6. 7. Stage 9. 10. 11. • Stage 14. 15. 16. 17. 18. Stage Stage
I – Understand the Customers Selecting the target, defining the service and the users of the service Determining the service characteristics Developing customer profile Understanding customers perception of the service provider II – Set Customer Service Standards Standards in procedural dimensions of customer service Standards in Personal dimension of customer service Setting standards in stone Ex 20.1 CS at Singapore Airlines, Fig 20.1 Writing Customer Standards III – Encourage Team Work and Customer Orientation among Employees Identify and analyze all the jobs in the organization that deal with customer Recruit right candidates for the jobs Train and develop the job incumbents Provide teams with able leaders Cultivate the right organizational culture IV – Establish Control systems V – Prevent Problems rather than fix them
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
B. Ch 20 Developing & Managing the Customer Service Function Offering Supplementary Services in Addition to Core Services Ex 20.2 Supplementary services offered by Jet Airways Enhancing Customer Services through Improved Service Delivery Process Factors that determine and influence the service delivery. 9. 10. 11. 12. 13. 14. 15. 16. 17.
Who sells the service? Do service personnel need to interact with the customer often? Who hires the service? How long does the service delivery take? How flexible is the capacity? How flexible is the service? How frequently is the service purchased? How complex is the service? What is the extent of risk involved?
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
B. Ch 20 Developing & Managing the Customer Service Function Steps to Implement an Effective Customer Service Program 3. 4. 5. 6. 7. 8. 9. 10. 11.
Place the right person in the right job. Administer training programs. Serve information needs of the customers. Resolve problems quickly and talk pleasantly. Standardize service delivery mechanism Fix reasonable princes Outsource some activities Attempt to prevent problems Evaluate employee performance
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
C. Ch 23
Globalization of Services Pg 331-348
1. 2. 3. 4. 5. 6. 7.
The Growth in Global Service Markets Factors Influencing Globalization Overseas Market Entry Decisions Assessing Globalization Challenges in the Global Market Factors Influencing Success of a Global Service Firm Prospects for the Global Marketing of Services
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
17
C. Ch 23
Globalization of Services Pg 331-348
The Growth in Global Service Markets • •
Globalization refers to the free movement of goods, services, people, capital and technology across various countries in the world. Trends and changes
Factors Influencing Globalization 8. 9. 10. 11. 12.
Changes in Social Factors Changes in Technology Changes in political and legal conditions Competition in the market Competitive advantage
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
17
C. Ch 23
Globalization of Services Pg 331-348
17
Overseas Market Entry Decisions The choice depends on a variety of factors including the nature of the particular product or service and the political, social and competitive scenario in the target markets. Various methods are: 7. 8. 9. 10. 11. 12. 13. 14. 15.
Exporting Turnkey Projects Licensing Franchising JV Strategic Alliance Wholly Owned Subsidiary M&A Piggy Back
Ex 23.1 Merger of Citicorp and Travelers Group July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
C. Ch 23
Globalization of Services Pg 331-348
Assessing Globalization Parameters used to asses the level of globalization 5. 6. 7. 8. 9.
Presence in strategic markets Location of value adding activities Achieving desirable balance between globalization and customization Consistency in Quality and Pricing of services Responding to changes in environment
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
17
C. Ch 23
Globalization of Services Pg 331-348
Challenges in the Global Market 3.
Legal Barriers – Discriminating Laws, Subsidies, Restriction on Foreign companies entry, Infringement of copyrights and trademarks
5.
Cultural Barriers – Language, Customs, Values and attitudes, Lifestyle
7.
Financial Barriers – Changes in currency exchange rates, Problems with logistics
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
17
C. Ch 23
Globalization of Services Pg 331-348
Factors Influencing Success of a Global Service Firm 3. 4. 5. 6. 7.
Select the right entry mode Select the right marketing research methods Customize the service offering Train the service personnel Select the right promotion strategy
Prospects for the Global Marketing of Services
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
17
D. Ch 24-Tourism & Travel Services Marketing-Tourism Pg 352-358 1.
6
Major characteristics The hotel industry is dependent on tourism and travel industries, and together they constitute the hospitality industry. The demand variation in the hotel industry depends on various factors like the economy, socio-political conditions, government regulations, business cycle, weather and seasonal changes, festivals etc. The hotel service is a perishable service with a fixed or limited supply. It is characterized by high investment and low variable costs. The market for the hotel industry can be geographically segmented as tourist spots and commercial centers. On the other hand, based on customers, the market can be segmented as premium segment, leisure segment and budget segment. The exposure of the Indian customer to international service standards has made him more discerning and demanding. Today’s customers expect more value added services from the service provider.
3. 4. 5. 6.
Market Segmentation – Geographic & Demographic Marketing Strategy Marketing Mix – Product, Pricing, Place, Promotion, People, Physical Evidence, Process Recent Trends in the Hotel Industry
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
E. Ch 25-Marketing of Financial Services-Banking Pg 370-375 1.
5
Definition The bank is a financial institution which accepts deposits and lends that money to its customers. As banks deal with their customers’ finances, banking is a highinvolvement service. Therefore banks need to win the trust of their customers. Based on the customer profiles, banks segment their market into retail banking, corporate banking, personal banking etc. Depending on customer needs for finance, the market can also be segmented into trade finance, consumer finance, etc. For the banker to derive maximum returns and enhance his market position the marketing mix has to be effectively managed. The products offered by a bank may be in the core or augmented form. The core products offered by a bank include a savings bank account or a housing loan.
4. 5. 6.
Marketing Segmentation in Banking Industry Marketing Mix - Product Pricing, Place, Price, Promotion, People, Process, Physical Evidence Recent Trends in Banking
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
F. Ch 26-Communication & Info Services Marketing-Telecom Pg 391-398
7
Telecom industry poses high entry and exit barriers. Telecom players need to invest heavily on equipment, cables and other assets and technology and they have to wait for years to obtain return on their investment. The market for telecom industry can be divided into individual, corporate, rural and urban segments. On the basis of product offered, the market can be divided into fixed, mobile, internet and video telecom services. • • • • •
Characteristics of Telecom Industry Market Segmentation Marketing Strategy Marketing Mix - Product/Service, Price, Place, Promotion, People, Physical Evidence Process Recent Trends in Telecom Industry Technology Globalization
Future of Telecom Industry in India July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
G. Ch 27-Media Services Marketing-Broadcasting Pg 409-413 Media services comprise of all those channels of communication, which help to transmit information from the source to the recipient. Media may be point-to-point media or mass media. While point-to-point media transmits information on a one-to-one basis, mass media transmits information from one source to a large audience. Media services are classified into broadcasting, entertainment and print media. Broadcasting is the easiest and most inexpensive method of conveying a large amount of content to a large audience. Broadcasting media consists of the radio, television and the Internet. Broadcasting services have the power and the ability to influence the perception and behavior of people through the content of the programs they air
• • • • • 8.
Media Services and Broadcasting Consumer Behavior in Response to Broadcasting Services Market Segmentation in Broadcasting Market strategy of Broadcasting Firms Marketing mix for Broadcasting Services – Product, Price, Place, Promotion, People Physical Evidence Process Recent trends in Broadcasting Growth of the Internet and Online Availability of Media Services Mergers and Consolidations Digitization of Content Expansion of Reach of Satellite Services
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
4
July 7, 2009
Relationship Marketing Developing and Managing the Customer Service Function Globalization of Services Tourism & Travel Services Marketing-Tourism Marketing of Financial Services-Banking Communication & Info Services Marketing-Telecom Media Services Marketing-Broadcasting
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Pg 241-260 Pg 287-302 Pg 331-348 Pg 352-358 Pg 370-375 Pg 391-398 Pg 409-413
19 15 17 6 5 7 4
Download Presentation From www.integrysme.com/ICFAI
A . Ch 17 • • • • • • • •
Relationship Marketing
Relationship Marketing Defined Benefits of Relations Marketing’s Relationship Marketing and Transaction Marketing Six Markets Model Strategy in Relations Marketing Management Retention Strategies Recovery of Customers Communication and Relationship Marketing
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
A . Ch 17
Relationship Marketing
Relationship Marketing Defined Berry and Parsuraman – Relationship marketing is attracting maintaining and in multiservice organizations – enhancing customer relationship. Benefits of Relations Marketing’s 7.Benefits for the Firm 8.Benefits to the Customers Relationship Marketing and Transaction Marketing 12.The method of marketing in which a service organization or its employees communicate with the customer only when he approaches it for service called Transaction Marketing. 13.When a service organization seeks to establish and maintain a long term relationship with its customers, it is known Relationship Marketing.
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
A . Ch 17
Relationship Marketing
Six Markets Model A Service Organization needs to maintain good relations with 6 Constituencies: • • • • • •
Customer Markets Internal Markets Supplier Markets Referral Markets Recruitment Markets Influence Markets
Adrian Payne (1991) from Cranfield University goes further. He identifies six markets which he claims are central to relationship marketing. They are: internal markets, supplier markets, recruitment markets, referral markets, influence markets, and customer markets. Referral marketing is developing and implementing a marketing plan to stimulate referrals. Although it may take months before you see the effect of referral marketing, this is often the most effective part of an overall marketing plan and the best use of resources. Marketing to suppliers is aimed at ensuring a long-term conflict-free relationship in which all parties understand each others' needs and exceed each others' expectations. Such a strategy can reduce costs and improve quality. Influence markets involve a wide range of sub-markets including: government regulators, standards bodies, lobbyists, stockholders, bankers, venture capitalists, financial analysts, stockbrokers, consumer associations, environmental associations, and labor associations. These activities are typically carried out by the public relations department, but relationship marketers feel that marketing to all six markets is the responsibility of everyone in the organization. Each market may require its own explicit strategies and a separate marketing mixes for each.
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
A . Ch 17
Relationship Marketing
Strategy in Relations Marketing Management Sequence in which organizations formulate their strategy is: 5. 6. 7. 8.
Mission and Vision SWOT Analysis Strategy Formulation Strategy Formulation
Quality and Relationship Marketing
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
A . Ch 17
Relationship Marketing
Retention Strategies 3. 4. 5. 6. 7.
Four Level Retention Strategies – Financial Bonds, Social Bonds, Customization Bonds, Structural Binds Monitor Relationships Value Addition to the Service Increased Customer Contact Enhanced Customer Service
Recovery of Customers Guidelines to be followed by the management while developing a service recovery system: 13. 14. 15.
Track and Anticipate Recovery opportunities Solve the problem quickly Train and empower frontline employees
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
A . Ch 17
Relationship Marketing
Communication and Relationship Marketing The 4 R’s of Rewarding relationships 5. 6. 7. 8.
Relationship Realization Response Relevance and Respect
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
B. Ch 20 Developing & Managing the Customer Service Function 1. 2. 3. 4. 5. 6. 7.
Customer Service Definition Improving Customer Service Technology to Improve Customer Service The Customer service Management Cycle Offering Supplementary Services in Addition to Core Services Enhancing Customer Services Through Improved Service Delivery Process Steps to Implement an Effective Customer Service Program
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
B. Ch 20 Developing & Managing the Customer Service Function Customer Service Definition •
Customer Service is the ability of an organization to constantly and consistently give the customer what they want and need.
•
According to Turban et al. (2002), Customer service is a series of activities designed to enhance the level of customer satisfaction – that is, the feeling that a product or service has met the customer expectation.
•
Lovelocks Definition – Task oriented activities, how they should be designed, performed and communicated.
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
B. Ch 20 Developing & Managing the Customer Service Function Improving Customer Service Take the following steps 5. 6. 7. 8.
Divide the basic service into separate service activities Conduct periodic surveys Provide necessary infrastructure and advance technology Track changes in the external environment
Technology to Improve Customer Service
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
B. Ch 20 Developing & Managing the Customer Service Function The Customer service Management Cycle Stage 4. 5. 6. 7. Stage 9. 10. 11. • Stage 14. 15. 16. 17. 18. Stage Stage
I – Understand the Customers Selecting the target, defining the service and the users of the service Determining the service characteristics Developing customer profile Understanding customers perception of the service provider II – Set Customer Service Standards Standards in procedural dimensions of customer service Standards in Personal dimension of customer service Setting standards in stone Ex 20.1 CS at Singapore Airlines, Fig 20.1 Writing Customer Standards III – Encourage Team Work and Customer Orientation among Employees Identify and analyze all the jobs in the organization that deal with customer Recruit right candidates for the jobs Train and develop the job incumbents Provide teams with able leaders Cultivate the right organizational culture IV – Establish Control systems V – Prevent Problems rather than fix them
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
B. Ch 20 Developing & Managing the Customer Service Function Offering Supplementary Services in Addition to Core Services Ex 20.2 Supplementary services offered by Jet Airways Enhancing Customer Services through Improved Service Delivery Process Factors that determine and influence the service delivery. 9. 10. 11. 12. 13. 14. 15. 16. 17.
Who sells the service? Do service personnel need to interact with the customer often? Who hires the service? How long does the service delivery take? How flexible is the capacity? How flexible is the service? How frequently is the service purchased? How complex is the service? What is the extent of risk involved?
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
B. Ch 20 Developing & Managing the Customer Service Function Steps to Implement an Effective Customer Service Program 3. 4. 5. 6. 7. 8. 9. 10. 11.
Place the right person in the right job. Administer training programs. Serve information needs of the customers. Resolve problems quickly and talk pleasantly. Standardize service delivery mechanism Fix reasonable princes Outsource some activities Attempt to prevent problems Evaluate employee performance
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
C. Ch 23
Globalization of Services Pg 331-348
1. 2. 3. 4. 5. 6. 7.
The Growth in Global Service Markets Factors Influencing Globalization Overseas Market Entry Decisions Assessing Globalization Challenges in the Global Market Factors Influencing Success of a Global Service Firm Prospects for the Global Marketing of Services
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
17
C. Ch 23
Globalization of Services Pg 331-348
The Growth in Global Service Markets • •
Globalization refers to the free movement of goods, services, people, capital and technology across various countries in the world. Trends and changes
Factors Influencing Globalization 8. 9. 10. 11. 12.
Changes in Social Factors Changes in Technology Changes in political and legal conditions Competition in the market Competitive advantage
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
17
C. Ch 23
Globalization of Services Pg 331-348
17
Overseas Market Entry Decisions The choice depends on a variety of factors including the nature of the particular product or service and the political, social and competitive scenario in the target markets. Various methods are: 7. 8. 9. 10. 11. 12. 13. 14. 15.
Exporting Turnkey Projects Licensing Franchising JV Strategic Alliance Wholly Owned Subsidiary M&A Piggy Back
Ex 23.1 Merger of Citicorp and Travelers Group July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
C. Ch 23
Globalization of Services Pg 331-348
Assessing Globalization Parameters used to asses the level of globalization 5. 6. 7. 8. 9.
Presence in strategic markets Location of value adding activities Achieving desirable balance between globalization and customization Consistency in Quality and Pricing of services Responding to changes in environment
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
17
C. Ch 23
Globalization of Services Pg 331-348
Challenges in the Global Market 3.
Legal Barriers – Discriminating Laws, Subsidies, Restriction on Foreign companies entry, Infringement of copyrights and trademarks
5.
Cultural Barriers – Language, Customs, Values and attitudes, Lifestyle
7.
Financial Barriers – Changes in currency exchange rates, Problems with logistics
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
17
C. Ch 23
Globalization of Services Pg 331-348
Factors Influencing Success of a Global Service Firm 3. 4. 5. 6. 7.
Select the right entry mode Select the right marketing research methods Customize the service offering Train the service personnel Select the right promotion strategy
Prospects for the Global Marketing of Services
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
17
D. Ch 24-Tourism & Travel Services Marketing-Tourism Pg 352-358 1.
6
Major characteristics The hotel industry is dependent on tourism and travel industries, and together they constitute the hospitality industry. The demand variation in the hotel industry depends on various factors like the economy, socio-political conditions, government regulations, business cycle, weather and seasonal changes, festivals etc. The hotel service is a perishable service with a fixed or limited supply. It is characterized by high investment and low variable costs. The market for the hotel industry can be geographically segmented as tourist spots and commercial centers. On the other hand, based on customers, the market can be segmented as premium segment, leisure segment and budget segment. The exposure of the Indian customer to international service standards has made him more discerning and demanding. Today’s customers expect more value added services from the service provider.
3. 4. 5. 6.
Market Segmentation – Geographic & Demographic Marketing Strategy Marketing Mix – Product, Pricing, Place, Promotion, People, Physical Evidence, Process Recent Trends in the Hotel Industry
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
E. Ch 25-Marketing of Financial Services-Banking Pg 370-375 1.
5
Definition The bank is a financial institution which accepts deposits and lends that money to its customers. As banks deal with their customers’ finances, banking is a highinvolvement service. Therefore banks need to win the trust of their customers. Based on the customer profiles, banks segment their market into retail banking, corporate banking, personal banking etc. Depending on customer needs for finance, the market can also be segmented into trade finance, consumer finance, etc. For the banker to derive maximum returns and enhance his market position the marketing mix has to be effectively managed. The products offered by a bank may be in the core or augmented form. The core products offered by a bank include a savings bank account or a housing loan.
4. 5. 6.
Marketing Segmentation in Banking Industry Marketing Mix - Product Pricing, Place, Price, Promotion, People, Process, Physical Evidence Recent Trends in Banking
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
F. Ch 26-Communication & Info Services Marketing-Telecom Pg 391-398
7
Telecom industry poses high entry and exit barriers. Telecom players need to invest heavily on equipment, cables and other assets and technology and they have to wait for years to obtain return on their investment. The market for telecom industry can be divided into individual, corporate, rural and urban segments. On the basis of product offered, the market can be divided into fixed, mobile, internet and video telecom services. • • • • •
Characteristics of Telecom Industry Market Segmentation Marketing Strategy Marketing Mix - Product/Service, Price, Place, Promotion, People, Physical Evidence Process Recent Trends in Telecom Industry Technology Globalization
Future of Telecom Industry in India July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
G. Ch 27-Media Services Marketing-Broadcasting Pg 409-413 Media services comprise of all those channels of communication, which help to transmit information from the source to the recipient. Media may be point-to-point media or mass media. While point-to-point media transmits information on a one-to-one basis, mass media transmits information from one source to a large audience. Media services are classified into broadcasting, entertainment and print media. Broadcasting is the easiest and most inexpensive method of conveying a large amount of content to a large audience. Broadcasting media consists of the radio, television and the Internet. Broadcasting services have the power and the ability to influence the perception and behavior of people through the content of the programs they air
• • • • • 8.
Media Services and Broadcasting Consumer Behavior in Response to Broadcasting Services Market Segmentation in Broadcasting Market strategy of Broadcasting Firms Marketing mix for Broadcasting Services – Product, Price, Place, Promotion, People Physical Evidence Process Recent trends in Broadcasting Growth of the Internet and Online Availability of Media Services Mergers and Consolidations Digitization of Content Expansion of Reach of Satellite Services
July 7, 2009
Copyright ICFAI Dubai 2009 Pankaj Tripathi
Download Presentation From www.integrysme.com/ICFAI
4
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