Sevice marketing finals notes

Services Marketing
Topics for Final Term:
1.
Blue Ocean Strategy;
Unchanged market space for an unknown industry. You will create unchanged market space aim to
make competition irrelevant create and capture new demands
Value innovation
Company’s action favorably affects its cost its structure and its proposition to buyers
Cost savings are made by eliminating and reducing the factors an industry competes on. Our value is
lifted by racing and creating elements the industry has never offered. Over time costs are reduced
further a scale economics kick in due to the high sale volumes, that superior value generates thus
creating value innovation.
2.
Scientific Marketing:
https://www.marketing-schools.org/types-of-marketing/scientific-marketing/
3.
Design Thinking:
•
Viral Marketing
•
Collaborative Marketing
•
SMS Marketing
•
Relationship Marketing
Relationship marketing is a type of customer marketing that focuses on
cultivating deeper, more meaningful relationships with customers to ensure
long-term brand loyalty. Relationship marketing is not focused on short-term
wins or sales transactions. Instead, it’s focused on creating brand evangelists
that become promoters for the long-haul.
The key to doing this is by focusing on delighting your customers who are
already satisfied with your brand. Start by using customer feedback
software to run a Net Promoter Score (NPS) campaign to help you find out
who those customers are. Then, come up with ways to turn those happy
customers into raving fans. From there, you can request that they leave a
testimonial, participate in a case study, or help you achieve your customer
delight goals in some other way.
•
Event Marketing
Event marketing is planning, organizing, and executing an event for the
purpose of promoting a brand, product, or service. Events can take place inperson or online, and companies can either host an event, attend as an
exhibitor, or participate as a sponsor. Many organizations leverage their
unique experience in the industry to provide present helpful informational
sessions in exchange for the cost of admission and the brand positioning that
results after being seen by attendees as an authority on the topic.
Alternatively, or in conjunction with that strategy, there may be a pitch at the
end of the event to prompt interested attendees to make a purchase.
•
Celebrity / Influencer Endorsement
Influencer marketing is designed to tap into an existing community of engaged
followers on social media. Influencers are considered experts in their niches.
These individuals have a large influence over an audience you might be trying
to reach and can be helpful marketing to those buyers.
To get started with influencer marketing, you must first create your influencer
marketing strategy and define what type of influencer you’re targeting (their
niche). Then, you’ll want to create a list of criteria that would make an
influencer in that niche a good fit with you, considering things such as the size
of their audience, how active that audience is, and the vibe on their profile.
From there, you can find influencers and reach out to them by:
•
Manually searching on social media
•
Using an influencer marketing platform
•
Hiring an agency to do the influencer research and outreach for you
From there, you’ll want to understand that the influencer is the one who knows
their audience the best, so maintain a good relationship with that individual
and allow them some creative freedom with how they handle your promotion.
•
Search Engine Marketing
Search engine marketing, or SEM, includes all activities in the effort of
ensuring your business’s products or services are visible on search engine
results pages (SERPs). When a user types in a certain keyword, SEM
enables your business to appear as a top result for that search query. The two
types of SEM include search engine optimization (SEO) for organic search
results and pay-per-click (PPC) advertising for sponsored SERPs.
To get started with SEO, you must familiarize yourself with search engine
ranking factors and produce content for search engines to index.
To get started with pay-per-click SEM, you must work with the search engine
you’re looking to purchase placements with. Google Ads is a popular choice.
There are also ads management tools to make creating and managing PPC
campaigns a breeze.
•
Content Marketing
Content marketing is a key instrument in inbound and digital marketing
because content is what allows audiences as well as search engines, such as
Google, to find the information they need on the web. By definition, it involves
creating, publishing, and distributing content to your target audience. The
most common components of a content marketing program are social media
networks, blogs, visual content, and premium content assets, like tools,
ebooks, or webinars.
With content marketing, the goal is to help your audience along their buyer’s
journey. First, identify common FAQs and concerns your buyers
have before they are ready to make a purchase. Then, create an editorial
calendar to help you create and manage your content. It also helps to have
a content management system to make publishing easy.
•
Video Marketing
Video marketing is a type of content marketing that involves using video as a
medium. The idea is to create videos and upload them to your website,
YouTube, and social media to boost brand awareness, generate conversions,
and close deals. Some video marketing apps even allow you to analyze,
nurture, and score leads based on their activity.
•
Stealth Marketing
Stealth marketing is when a brand hires actors or celebrities or uses
pseudonyms to promote their product or service without consumers realizing
they’re being marketed to. Some examples of stealth marketing are hiring
actors to subtly promote products to the public, sockpuppeting, paying
influencers to post about a product or service without disclosing that it’s
actually an ad, creating fake viral videos, and product placement in movies.
•
Brand Marketing
Brand marketing is shaping your brand’s public perception and forging an
emotional connection with your target audience through storytelling, creativity,
humor, and inspiration.
The goal here is to be thought-provoking and generate discussion so that your
brand is remembered and associated with positive sentiment.
In order to begin brand marketing, you need to deeply understand your buyer
persona and what resonates with them. You must also consider your position
in the market and what makes you unique from competitors. This can help
shape your values and what you stand for, giving you fodder for storytelling
campaigns.
•
Affiliate Marketing
Affiliate marketing is when an online retailer rewards a website with a
commission for each customer they refer through their promotion of one of the
online retailers’ products. The website, often called an affiliate, will only get
paid when their promotion generates a sale.
If you already have marketing assets that are performing, such as a website
that generates traffic or an engaged network on social media or elsewhere,
affiliate marketing is a great way to further leverage those assets. Choose a
product or brand that closely aligns with what you sell (but does not compete
with you) and promote it to your audience.
•
Campus Marketing
Campus marketing is hiring college students to become campus ambassadors
for your brand. They usually market your products or services to other
students by setting up booths around campus or hosting giveaways.
•
Cause Marketing
Cause marketing is a type of corporate social responsibility that aims to
simultaneously improve society and boost a brand’s awareness by promoting
and supporting a charitable cause.
Sheryl Green, author of Do Good to Do Better, a book on cause marketing,
describes this scenario: “There’s nothing fun about selling widgets … [so]
Susan is about to discover the power of Cause Marketing. She pledges 1% of
her gross sales to support her local food bank. She spends her Saturday
mornings at soup kitchens serving the homeless. She has donation boxes set
up in her employee break rooms and gives comp time to her employees who
want to volunteer. And, she has switched her commercials from a description
of the widget making process to a story about how her employees give back
to the community and how they’ve served over 6000 meals in the last year.
Susan is no longer selling widgets… now she’s selling warm fuzzies.”
All of this is because Susan, the fictitious owner of the widget company, chose
to marry her business with her desire to support the community.
Cause marketing begins by answering three questions:
1. What causes do I care most about?
2. How can I leverage my company’s position to support those causes?
3. How can I tell my prospects and customers about my efforts so that they can get
involved?
That last question benefits both your business and the cause/charity you’re
supporting.
Case Study
Annual population growth in Pakistan 2.03
Life expectancy rate 65.99
Infant mortality rate 63.26
Mortality rate under 5 is 86.5
Public hospitals under provincial government authority
Private hospitals koi poochnay wala nai
Other options are
Allopathic
Homeopaths
Hakeems
Servqual is 22 item scale measuring five dimensions of service quality namely responsiveness, empathy,
tangible, reliability, assurance.
It measures service quality on two dimensions of expectations and perception.
Quality in health care was
Previously defined by technical services
Which didn’t focus on basic needs and requirements
Now it is defined by
Giving attention to patients perspective and their perceptions
According to public sector
Assurance communication and discipline has significant relation with patients satisfaction
However
Responsiveness and tips have insignificant relationship
According to private sector
Responsiveness, communication has significant relation with patients
But relationship of communication with satisfaction is negative
However, assurance discipline and tips have insignificant relationship
…