Services Marketing - Bachelor of Business Essay

Services Marketing - Bachelor of Business - Essay Example Consequently, a problem of identification, classification, and evaluation of service and goods components of a product with further individualized development of a marketing campaign emerges. A number of studies have been conducted in this area of marketing; however, the field is still relatively new and is more relevant, considering the global market tendency, then ever (Lovelock, C., & Wirtz, J. 2004). In order to develop marketing strategies and promotion with planning in particular, the product must be categorized in the first place. Product can be defined as anything offered in a market that might satisfy a want or a need and is further subdivided into two categories: services and goods. The major difference between the two is tangibility: while a good is a material product one can tough and feel, service is intangible and is usually consumed during the production process. As previously stated in the introduction, a global market shift to complete service solutions results in emergence of mixed products, that have characteristics of both goods and services. ... orization can be brought down to the issue of whether a product has more good or service features and thus can be placed on a continuum of good or service dominant products (Lovelock, C., Patterson, P.G., & Walker, R.H. 2001). To illustrate, consider the two service industries: nursing and auto repair industry. While nursing has dominating service elements and can be regarded as a highly service dominant product, auto repair industry has dominant good characteristics as the issue of tangibility rises and thus is considered to be a good dominant product. Consequently, a marketing strategy that distinguishes between elements of goods and services in a product sees a product from a customer's point of view and backwards: seeks a product that would satisfy complete customer needs. Service Dominant and Good Dominant Products: Management Implications Product classification into good and service dominant products has similar implications for both management and marketing. The categorization in a need to imply a separate set of plans to good and service elements of a single product. Consequently, marketing and management approaches differ not only between two, three, or more products, but also between the aspects within a single product. Thus, the approaches are individualized, become more specific fore each product and more complex if to consider an organization as a whole (McColl-Kennedy, J.R. 2003). On the other side of the fence, such categorization offers new opportunities for management of service and good dominated products. Doris Van Doren, Jane Durney, and Colleen Darby when considering the issue of service line management as a strategic tool for generic services, discuss managerial approaches used in health care institutions (1993). While the majority of