Question

Assignment 5 Directions: Read Chapter 8 of the text. This assignment will be divided in two parts (Part A and Part B), but will be submitted as one document - Make sure that you have also included the name of the assignment and your name on the assignment sheet. Text is FROM PRODUCTS TO SERVICES by Laurie Young.

· Part A. Differences in Product and Service Marketing Select 5 of the 10 subcategory descriptions of differentiating product and service marketing concepts found on pages 271-282 of the text, and compose a written report which highlights the difference between product and service marketing. Include either illustrations from the text or examples from your own experience that will provide support for your explanations. The assignment will be also assessed on proper spelling, grammar and paragraph organization. Part A should be a minimum of 3 pages in length (1.5 line spacing, 12 pt. type).

· Part B. Marketing Strategies There are 8 marketing strategies that are described on pages 289-301 of Chapter 8 of the text. Create a chart/table that summarizes the key points of this information that could be used as a quick reference for reviewing and selecting a marketing option. The chart/table should be organized to include the name of each strategy, a short description of each strategy, and one advantage and one disadvantage of each strategy. In addition to content, the assignment will be assessed on proper spelling and grammar, chart/table organization, labeling and identification. Write the answers on a word document and post it to the Dropbox Assignment 5 at D2L.

Discussion 3 Search the internet to find a marketing strategy that is NOT described on pages 289-301 of Chapter 8. Explain the strategy, advantages and disadvantages. Please include your source (e.g. the link of the website). Post your findings to the discussion board and Respond to your classmates

Answer 1

Differences between product marketing and service marketing:

· The most primary difference between a product and service is a product is very much physical. Everyone can see, feel, touch and smell it. Whereas a service cannot be experienced in the same way. In short product is physical and tangible whereas service nonphysical and intangible

· A product will be same in everyone’s perspective. For example a red ball will always be red in colour and spherical in shape irrespective of who sees it. Whereas a service cannot be claimed like that.

· Products fill our requirement whereas service is more about building a relationship. When you purchase a book you take it with you but on the other hand when you visit a doctor you leave with experience of interacting with a person.

· When a product is launched it will have many duplications of it from its competitors but the services necessarily don’t have this kind of competition.

· A product will be same irrespective of its selling person. For example pair of shoes of Nike Company will be same at every outlet. But the same doesn’t go with services. Services are more human dependent. It depends on how the sales person treats with the customer. So the services will vary from person to person. They cannot be same at two different places.

· A product can be measured easily in terms of quantity and quality whereas a service cannot be measured easily. Services have a lot of human interaction. The service will be good when the service provider and receiver both interact well. For example in a bank one cashier may receive well whereas the other may not.

· In case of rejection a product can be returned back whereas a service cannot be returned back. Once a service is done its done can’t be taken back.

· A product can stay in the shelf for a day or two. It is not a loss. But if one time service is not done it is a loss. For example a book on shelf can be sold at any time but if a hotel room is not booked for a day is a loss of rent for a day.

· In case of a product the experience of customer does not play an important role as in case of service. If the customer doesn’t like a red ball can always buy a blue ball. But if the person didn’t like the service of the doctor he will not come back to him.

· When compared to product, service oriented companies face more challenges as more people are involved and chances of errors will also be more. There will always be many factors which are out of control. For example in air travel reaching to the destination on time is very important but the journey time is also dependent on factors like weather and climate.

· In the recent trend of digitalization a product can be ordered and sent to customer completely online, whereas a service cannot be done like that. People have to interact with each other be what the conditions may be, in the service industry.