Beruflich Dokumente
Kultur Dokumente
An Introduction
Prof. Madhavi Garikaparthi
Tangibility Spectrum
Salt
Intangible Dominant
Fast-food Outlets
Teaching
Salespeople
Service Employees
Locomotives
total annual cost of rail operations: $29 billion
Automobiles
average annual household expenditure: $6,064
network administration network technical support network equipment nonproductive operations by end user (downtime, file management, etc.) administration
train operations gas Infrastructure freight car services locomotive services locomotives used car purchase
40%
20%
0%
Source: GartnerGroup, Association of American Railroads, Federal Highway Administration Office of Highway Information Management. (Railroad expenditures are for Class 1 railroads.)
Intangibility
Heterogeneity
Perishability
Implications of Intangibility
Services cannot be inventoried Services cannot be patented Services cannot be readily displayed or communicated Pricing is difficult
Implications of Heterogeneity
Service delivery and customer satisfaction depend on employee actions Service quality depends on many uncontrollable factors There is no sure knowledge that the service delivered matches what was planned and promoted
Implications of Perishability
It is difficult to synchronize supply and demand with services Services cannot be returned or resold
Services
Intangible
Resulting Implications
Services cannot be inventoried. Services cannot be patented. Services cannot be readily displayed or communicated. Pricing is difficult.
Standardized
Heterogeneous Service delivery and customer satisfaction depend on employee actions. Service quality depends on many uncontrollable factors. There is no sure knowledge that the service delivered matches what was planned and promoted. Simultaneous production and consumption Customers participate in and affect the transaction. Customers affect each other. Employees affect the service outcome. Decentralization may be essential. Mass production is difficult. It is difficult to synchronize supply and demand with services. Services cannot be returned or resold.
Nonperishable Perishable
Source: Adapted from Valarie A. Zeithaml, A. Parasuraman, and Leonard L. Berry, Problems and Strategies in Services Marketing,
PLACE
Channel type
PROMOTION PRICE
Promotion blend Salespeople Advertising Flexibility
Exposure Intermediaries
PHYSICAL EVIDENCE
Facility design Equipment Signage Employee dress Other tangibles
PROCESS
Flow of activities Number of steps Level of customer involvement
firms services marketing mix? Is the mix wellaligned with overall vision and strategy? What are the strengths and weaknesses in terms of the 7 Ps?
customer? What is the service? How effectively does the services marketing mix for a service communicate its benefits and quality? What changes/ improvements are needed?
Banking
Built on Trust With the advent of many non-banking institutions, banks today face aggressive competition Innovation in services and products is the key.
Trade finance
Corporate finance Project finance Venture capital
Marketing Mix
Market Segmentation in BankingBasic or core product
Augmented products
Product
Savings account Debit card Salary savings account Current account Fixed deposits Recurring deposits Loans two wheeler, home, personal, home-equity Payment services of utility bills
Product
Overdrafts, cash credits, credit, virtual, smart cards Advisory & consultancy services Depository services Selling or cross-selling of products like bancassurance Prospectus of other institutions Transfer of money through DD, checks, challans Public ltd. Cos public issue services
Savings A/c Special Savings Account Senior Citizen Services Fixed Deposit Easy FD Recurring Deposit Private Banking Roaming Current A/c Young Stars Bank@camp us Salary A/c Womens A/c EEFC A/c RFC A/c Privilege Banking No frills A/c Outward Remittance
Home Loans Personal Loans Car Loans Two Wheeler Loans Commerci al Vehicle Loan Loans against Securities Farm Equipment Loans Constructi on Equipment Loan Office Equipment Loan Medical Equipment Loan Pre Approved Loans
ICICI Bank Bonds GOI Bonds Mutual Funds IPO Pure Gold Foreign Ex Services Senior Citizens Savings Scheme, 2004
NRE Savings A/c NRO Savings A/c NRE Fixed Deposit NRO Fixed Deposit NRE Recurring Deposit FCNR Fixed Deposit RFC Savings A/c RFC Fixed Deposit Home Loans Donate2India
Bill Payment Shopping Ticket Booking Prepaid Mobile Recharge Smart Money Order Card-2-Card FT Funds Transfer Share Trading Charity
ICICI Bank in News Investors Relations Customer Care Queries Feedback Privacy Online Security Terms and Conditions Disclaimer
USA Patriot Act Certification Life Cycle Planning What's New Service Charges
Pricing
Cost of funds Administrative expenses Credit losses incurred Expected profit
Pricing
Revenue generation Traditional source interest rate differential Annual charges for credit & debit cards Penalties Commissions for cross-selling Charges for payment of utility bills
Pricing
Cost-based pricing strategies Competition based pricing strategies Customer-based pricing strategies Risk/return pay-offs While initiating a price change, reactions from customers & competitors are taken into consideration
Pricing
Methodology for pricing credit Ratios followed shd. Be revisited regularly ( loan to deposit)
Place
Characteristic of Perishability causes inconvenience Includes conventional & modern distribution channels Bank branches Telephones or call centers ATM Internet Banking Home banking Plastic cards ( virtual, smart, minicredit & debit cards) Virtual branches & automated video banking Mobile offices & mobile ATMs
Promotion
Various promotion mix variables
People
Reduced due to technology for core banking services Enhanced for supplementary & additional products High intangibility in service
Process
Determines efficiency of operations & winning customers
PHYSICAL EVIDENCE
Fill Form
Forms FD Certificates
Ambience ATM Machine Phone Security System Camera Pamphlets Firewall Statements Debit Card
CUSTOMER
Help Desk
A/c Opening
Credit Card
Loans Deposit/Withdrawal
Cheque/DD/Cash
Lockers
Forex
Fixed Deposit
Demat
ATM/IBanking
Line of Interaction
ON- STAGE
PERSON
Fill Form
Fill Form
Line of Visibility
CONTACT
BACK- STAGE
Verification of documents
Credit Rating
Conversion of Shares
Physical Evidence
Ambience. Buildings, lawns AC branch offices ATMs Furnished lounge for customers in queue or waiting Amenities like Newspapers, drinking water, etc Displayed awards & certifications Displayed achievements, financial results, business milestones Displayed associations Cheque books, communication letters, brochures etc.