BANKING SERVICE MARKETING MIX SERVICE MARKETING MIX ELEMENT The service marketing mix comprises off the 7p’s. These include: * Product * Price * Place * Promotion * People * Process * Physical evidence. PRODUCT: 1. BANK PRODUCTS (A)DEPOSITS: savings‚ current‚ fixed etc. (B)ADVANCES: (1) FUND ORIENTED: a. Term loan‚ b. Clean loan‚ c. Bill discounting‚ d. Advances‚ e. Pre-shipment finance‚ f. Post-shipment finance‚ g. Secured and unsecured lines of credit
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SERVICE MARKETING IN BANKING SECTOR AND RECENT PERCEPTIONS IN MARKETING THOUGHTS OF SERVICES MARKETING IN BANKING Marketing approach in banking sector had taken significance after 1950 in western countries and then after 1980 in Turkey. New banking perceptiveness oriented toward market had influenced banks to create new market. Banks had started to perform marketing and planning techniques in banking in order to be able to offer their new services efficiently. Marketing scope in banking sector
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The Marketing of product and service are different A product is normally a thing that sold to people and mostly is tangible. Basically‚ the marketing of product is particularly focused on 4P’s in marketing mix namely product‚ price‚ place‚ and promotion (Ehmke & Fulton & Lusk‚ n.d.). The marketer needs to analyze the major demand of customers in a specific market in order to find out a product that can respond the market demand. Firstly‚ it is necessary for marketers to focus on the strength as
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[pic][pic]Services Marketing and the Extended Marketing Mix (7P’s) What is services marketing? A service is the action of doing something for someone or something. It is largely intangible (i.e. not material). A product is tangible (i.e. material) since you can touch it and own it. A service tends to be an experience that is consumed at the point where it is purchased‚ and cannot be owned since is quickly perishes. A person could go to a café one day and have excellent service‚ and then return
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developing service products: CORE and SUPPLEMENTARY ELEMENTS LEARNING OBJECTIVES By the end of this chapter‚ students should be able: LO 1 Define what a service product is. LO 2 Know how to design a service LO 4 Know how service firms use concept. different branding strategies for their product lines. service development‚ ranging from simple style changes to major innovations. needed to achieve success in developing new services. LO 3 Describe the flower of service LO 5 List the
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Assignment ------------------------------------------------- Name: Minh Le Nguyen Binh - Roll Number: minhlnbba00327 ------------------------------------------------- Class: BA0604 ------------------------------------------------- Subject: Service Marketing Management ------------------------------------------------- Lecture: Nguyenltt ------------------------------------------------- ------------------------------------------------- -------------------------------------------------
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for delivering superior service. The chapter states that the customers compare perceptions with expectations when judging a firm’s services. However‚ the nature of customer service expectations and how they are formed has remained ambiguous. Researchers have defined customer service expectations in a variety of ways but with no conceptual framework to link different types of expectations. At this point it indicates their interactions in influencing perceptions of service performance connect expectation
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Services Marketing in the Hospitality Economy: An exploratory study Fotis C. Kitsios Technical University of Crete‚ Dept. of Production Engineering and Management‚ Chania‚ Greece Paper prepared for presentation at the 98 th EAAE Seminar ‘Marketing Dynamics within the Global Trading System: New Perspective s’‚ Chania‚ Crete‚ Greece as in: 29 June – 2 July‚ 2006 Copyright 2006 by [Fotis C. Kitsios]. All rights reserved. Readers may make verbatim copies of this document for non - com mercial
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De La Salle University – Dasmarinas College of Business Administration and Accountancy Marketing Department Café Rosso A Marketing plan submitted in partial fulfilment Of the requirements in Services Marketing Janine G. Gato MKA41 October 16‚ 2014 Table of Contents I. Acknowledgement………………………………………………………………………………3 II. Executive Summary……………………………………………………………………………4 III. Business Environment Analysis………………………………………………………………5 IV. SWOT Analysis……………………………………………………………………………….6 V. Market
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Product and service marketing are highly related. Take the success of a company like Apple‚ for example. The technology giant operates nearly 400 retail stores‚ employs more than 42‚000 people and hosts more than a million visitors each day. In 2012‚ Apple’s retail operations generated nearly $19 billion. Furthermore‚ it’s estimated that Apple’s Fifth Avenue store generates more than $35‚000 per square foot‚ making it the highest grossing retailer in New York – ever. Those statistics reinforce the
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