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Services marketing is a specialized branch of marketing which emerged as a separate field of study in the early 1980s, following the recognition that the unique characteristics of services required different strategies compared with the marketing of physical goods.
In the 1980s, the 4 Ps was modified and expanded for use in the marketing of services, which were believed to possess unique characteristics which necessitated a different marketing program. The commonly accepted 7Ps of services marketing include: the original four Ps of product, price, place, promotion plus participants (people), physical ...
Perishability is used in marketing to describe the way in which service capacity cannot be stored for sale in the future. It is a key concept of services marketing. [1] Other key characteristics of services include intangibility, inseparability, fluctuating demand, pricing of services, heterogeneity and variability.
Other key characteristics of services include perishability, intangibility and variability (or heterogeneity). [ 2 ] Although the notion of inseparability has become received wisdom in the marketing and services marketing literature over the past few decades, [ 3 ] more recent research has challenged inseparability as a distinguishing ...
Marketing or product differentiation is the process of describing the differences between products or services, or the resulting list of differences. This is done in order to demonstrate the unique aspects of a firm's product and create a sense of value .
Intangibility refers to the lack of palpable or tactile property making it difficult to assess service quality. [1] [2] [3] According to Zeithaml et al. (1985, p. 33), “Because services are performances, rather than objects, they cannot be seen, felt, tasted, or touched in the same manner in which goods can be sensed.” [4] As a result, intangibility has historically been seen as the most ...
The marketing mix, which outlines the specifics of the product and how it will be sold, including the channels that will be used to advertise the product, [7] [8] is affected by the environment surrounding the product, [9] the results of marketing research and market research, [10] [11] and the characteristics of the product's target market. [12]
The prospect of expanding or modifying the marketing mix for services was a core discussion topic at the inaugural AMA Conference dedicated to Services Marketing in the early 1980s, and built on earlier theoretical works pointing to many important problems and limitations of the 4 Ps model. [20]