Marketing Strategy

A service is any act or performance that one party offers to another that is essentially intangible and does not result in the ownership of anything.

Hybrid: The offering consists of equal parts of goods and services. For example, people patronize restaurants for both food and service.

Perish ability Services cannot be stored; once an airplane takes off or a movie starts, any unsold seats cannot be held for future sale.

Marketing channels are sets of interdependent organizations involved in the process of making a product or service available for use or consu

horizontal marketing system, in which two or more unrelated companies put together resources or programs to exploit an emerging

Vertical Marketing Systems separate business seeking to maximize its own profits, even if this goal reduces profit for the system as a whole.

Service companies can try to demonstrate their service quality through physical evidence and presentation.

Improving the match between service demand and supply is important for businesses today. Part-time employees enables businesses to meet pe

Holistic marketing for services require external, internal and interactive marketing.

Marketers of service offerings must pay special attention to choosing brand elements, establishing image dimensions in devising the branding

Well-managed service companies share the following best practices of service-quality management: a strategic concept, a history of top-management commitment to quality, high standards, self-service technologies, systems of monitoring service performance and customer comp

To design the best service support program, a manufacturer must identify the services its customers most value.

Price is the one element of the marketing mix that produces revenue; the others produce costs.

The following is the six step procedure for setting pricing policy: selecting the pricing objective; determining demand; establishing cost; analyzing competitors cost, prices and offerings; selecting a pricing method; and selecting the final price.

If demand hardly changes with a small change in price, we say that demand is inelastic

Total costs are the sum of the fixed and variable cost for any given level of production.

The most elementary pricing methods is to add a standard markup to the product's cost.

A firm determines the price that would yield its target rate of return on investment; this is known as target-return ricing.

In an increased number of companies base price on customers' is known as perceived value.

When a company charges a fairly low price for high-quality offerings this method is known as value pricing.

One form of auction type pricing is when the would-be seller ss only one bid and cannot know the other bids, this is called sealed-bid auction.

Price discrimination occurs when a company sells a product or service at two or more prices that do not reflect the promotional difference in

Successful value creation needs successful value delivery

The company should first think of the target market and then design ply chain backward from that point. This is called demand-chain planning

All the following are channel member functions EXCEPT liaison for conflict resolution

Brokers, manufacturers representatives and sales agents search for customers and may negotiate on the producer's behalf but do not take title of the goods. This is known as agents

Intensive distribution consists of the manufacturer placing the goods or services in as many outlets as possible.

Producers varied greatly in channel power, the ability to alter channel members' behavior so that the members take actions they would not have t

A corporate vertical marketing system combines successful stages of production and distribution under single ownership. Companies that desire a high