SIVA: Solution, Incentive/Information, Value, and Access A formal approach to customer-focused marketing is known as S.I.V.A. (Solution, Information, Value, Access). LEARNING OBJECTIVES Describe S.I.V.A. model and its role in the marketing mix KEY TAKEAWAYS Key Points This system is basically the four Ps renamed and reworded to provide a customer focus. Instead of placing ads, S.I.V.A. advocates simply giving consumers the information they need to determine whether or not the… Read More »SIVA: Solution, Incentive/Information, Value, and Access

Marketing Mixes for Services Product, Placement, Promotion, and Price Due to the nature of services, the implications of product, place, promotion and price are different than in the traditional marketing mix. LEARNING OBJECTIVES Describe the 7Ps in the services marketing mix KEY TAKEAWAYS Key Points In terms of product, with services there is scope for customizing the offering as per customer requirements so the customer encounter assumes particular significance. Pricing… Read More »Marketing Mixes for Services

Client-Based Relationships Client-service providers aim to build a level of trust with clients that leads to long lasting buyer-seller relationships. LEARNING OBJECTIVES Discuss how relationship-building helps retain customers in a competitive marketing environment KEY TAKEAWAYS Key Points Providing customer-oriented services builds long lasting consumer -provider relationships, leading to repeat sales and reduced client turnover. Building service-oriented relationships involves carefully listening to the needs of the customer and fulfilling them through… Read More »Client-Based Relationships marketing

Service Marketing Management and Metrics Service marketing management oversees the implementation of marketing programs, while metrics measure their effectiveness and performance. LEARNING OBJECTIVE Explain how marketing management and metrics allow service organizations to implement and measure their marketing strategy KEY TAKEAWAYS Key Points To create an effective, cost-efficient marketing management strategy, firms must possess a detailed, objective understanding of their own business and the market in which they operate. After… Read More »Service Marketing Management and Metrics

Services as Products Services represent an integral part of many products and the correlation of goods and services is represented on a goods-services continuum. LEARNING OBJECTIVE Describe the characteristics of service products KEY TAKEAWAYS Key Points Services can be products that are both tangible and intangible. Typically, the dominant form will classify the product as a good or as a service. Many theorists see a continuum with pure services on… Read More »Services as Products

The Importance of Services The Service Economy The world economy is evolving into a service-driven economy as reliance on value-based service increases. LEARNING OBJECTIVE Define the role of a service economy in developed and developing countries KEY TAKEAWAYS Key Points The growth of the service sector has long been considered as an indicator of a country’s economic progress. Services are continually being launched to satisfy our existing needs and to… Read More »The Importance of Services Marketing

Customer Service as a Supplement to Products Customer service is provided before, during, and after the purchase of a product, and is meant to supplement and enhance customer experience. LEARNING OBJECTIVES Give examples of how customer service supplement products and services KEY TAKEAWAYS Key Points Customer service is an integral part of an organization’s ability to generate income and revenue, and should be included as part of an overall approach… Read More »Customer Service as a Supplement to Products

Business Ethics in B2B Marketers need to incorporate good ethics in their marketing campaigns as they are responsible for the image that a product portrays. LEARNING OBJECTIVES List the pitfalls B2B companies face when ignoring ethics in market research and target marketing, and the advantages to incorporating ethics KEY TAKEAWAYS Key Points Businesses are confronted with ethical decision making every day, and business leaders and managers need to reinforce the… Read More »Business Ethics in B2B

Stages of Business Buying Understanding the stages of business buying is important to a marketing firm if it is to market its product properly. LEARNING OBJECTIVES Describe the different stages within the business buying decision process KEY TAKEAWAYS Key Points The stages of business buying includes recognizing the problem, developing product specs to solve the problem, searching for possible products, selecting a supplier and ordering the product, and finally evaluating… Read More »Stages of Business Buying

The Business Buying Decision Process Decision-Making Units The group of individuals responsible for making a buying decision in a B2B context are labelled the decision making unit (DMU). LEARNING OBJECTIVES Describe the roles and functions that comprise decision making units in B2B organizations KEY TAKEAWAYS Key Points In a business setting, major purchases typically require input from various parts of the organization, including finance, accounting, purchasing, information technology management, and… Read More »The Business Buying Decision Process