Monday, November 4, 2019

Marketing of service products Essay Example | Topics and Well Written Essays - 2000 words

Marketing of service products - Essay Example In his book Marketing Management, Philip Kotler (2000), mentioned that 21st century marketing is marked by companies that managed to're-design' all the rules of marketing. In exchange of spending thousands of dollars on expensive market research, those companies took advantage of all their limited resources, producing near to their customers' locations and creating more solutions that are satisfying their customers. "They built customer's clubs, engage in creative public relations, and focus on efforts to produce high quality products and win-over customer's long term loyalty", said Kotler. Those companies have proven that marketing is an ever-developing science, and it has a very important role on deciding the faith of a company There are several definitions of marketing but we can divide them into two important segments, which are social and managerial definition. According to the social definition, marketing is designed to provide customers with products and services they required, thus, several marketers believed that marketing is simply a way of increasing the quality of life. On the other hand, Peter Drucker, as representative of the managerial perspective stated that sales are not the end goal of a marketing process. He stated that the goal of marketing is "to have an understanding of the consumer in such a kind that products meet consumers' needs and sell themselves" (Kotler, 2000). Within this short elaboration, our goal is to describe techniques of marketing services and present a real example of application in a real company. There are several definitions of the core difference between products and services. However, most will focus on the fact that products can be seen and touched prior to purchase, while services cannot. Another obvious difference is the idea that most services require the consumer to be present when the service is performed while products do not. An example is buying a pair of shoes compared to purchasing a hair cut. Nevertheless, many outcome of a company cannot be differentiated as products or services. According to Philip Kotler, the

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