You are tasked with selecting a service business of your choice and conducting a focused analysis of its marketing strategies and practices. You investigation should include secondary research (using different sources such as websites, textbook, articles, etc.) and/or primary research (interviews, surveys, etc.).
Your analysis should aim to achieve the following objectives:
• 3Cs analysis – Analysing the Customer, Competitor and Company to find the key success factors and to create a viable marketing strategy.
• Services marketing mix analysis – Analysing 7Ps, Product, Place, Price, Promotion, Physical Evidence, Process and People to review and define key issues that affect the marketing of its products and/or services.
• Construct a service blueprint – Displaying the entire process of service delivery, by listing all the activities that happen at each stage, performed by the different roles involved.
• Recommendations for improvement – These should be based on your analyses in previous sections and the research you have conducted.
• References - A minimum of 10 sources, 5 of which are from academic / credible sources including business reports, market research, academic textbooks, and scholarly journal articles.
Identify the difference between product and services and the unique characteristics of services.
Explain the implications of these characteristics in the design and execution of marketing strategies for services.
Apply various tools to analyse services marketing practices and make recommendations.
Plan and develop marketing strategies for firms in service industry.
Full Answer Section
3C Analysis:
- Customer: Identify the target customer segments of [Your Chosen Service Business]. Analyze their demographics, needs, pain points, and decision-making processes. Use secondary research like customer testimonials, surveys, and market research reports to understand their perspectives.
- Competitor: Research the main competitors of [Your Chosen Service Business]. Analyze their strengths, weaknesses, and unique selling propositions. Compare their marketing strategies with [Your Chosen Service Business] to identify opportunities for differentiation.
- Company: Evaluate the internal strengths and weaknesses of [Your Chosen Service Business]. Consider its brand vision, mission, core values, resources, and capabilities. This informs the creation of a viable and aligned marketing strategy.
7Ps of Services Marketing Mix Analysis:
- Product/Service: Analyze the core and peripheral services offered by [Your Chosen Service Business]. Consider service quality, customization options, and value proposition compared to competitors.
- Place: Examine the distribution channels used by [Your Chosen Service Business] (e.g., physical location, online platform, partnerships). Assess accessibility, convenience, and alignment with customer preferences.
- Price: Analyze the pricing strategies used by [Your Chosen Service Business] (e.g., fixed fees, hourly rates, packages). Consider perceived value, competitor pricing, and cost structure to determine optimal pricing models.
- Promotion: Evaluate the promotional channels used by [Your Chosen Service Business] (e.g., advertising, social media, public relations). Assess effectiveness, reach, and alignment with target audiences.
- Physical Evidence: Evaluate the tangible elements associated with the service (e.g., facilities, uniforms, brochures). Assess their impact on perceived quality and brand image.
- Process: Analyze the service delivery process, including touchpoints, customer interactions, and internal operations. Identify potential pain points and opportunities for improvement.
- People: Assess the skills, knowledge, and attitude of the employees involved in service delivery. Evaluate their impact on customer satisfaction and brand perception.
Service Blueprint:
Develop a service blueprint for [Your Chosen Service Business]. This visualizes the entire service delivery process, listing activities at each stage performed by different roles. This helps identify touchpoints, potential pain points, and opportunities for improvement.
Recommendations for Improvement:
Based on your analysis, propose actionable recommendations for [Your Chosen Service Business] to improve its marketing strategies. Consider:
- Customer Targeting: Refining customer segmentation and tailoring messaging to specific needs.
- Competitive Differentiation: Highlighting unique selling propositions and building a strong brand identity.
- Service Design and Delivery: Optimizing the service delivery process for improved efficiency and customer satisfaction.
- Marketing Mix Optimization: Fine-tuning pricing, promotion, and distribution channels to maximize reach and conversion.
- Employee Training and Empowerment: Enhancing employee skills and customer service training for a positive customer experience.
Differences between Products and Services:
- Intangibility: Services are intangible experiences, while products are tangible objects. This requires focusing on emotional benefits and perceived value in marketing services.
- Heterogeneity: Service quality can vary based on the provider and circumstances, unlike consistent product features. Service marketing emphasizes consistency and employee training.
- Perishability: Services cannot be stored, unlike products. Service marketing highlights immediate consumption and emphasizes appointment scheduling and efficient delivery.
- Inseparability: Production and consumption of services occur simultaneously. Service marketing involves managing customer interactions and creating a positive service experience.
Implications for Service Marketing:
These unique characteristics necessitate:
- Relationship Marketing: Building strong customer relationships to ensure repeat business and referrals.
- Focus on Customer Experience: Investing in service design, employee training, and touchpoint management to create a positive service experience.
- Communication and Transparency: Clearly communicating service features, expectations, and potential variability to manage customer expectations.
- Building Trust and Credibility: Emphasize strong brand reputation, testimonials, and customer reviews to overcome the intangibility of services.
Conclusion:
This analysis demonstrates the importance of a comprehensive approach to service marketing, considering the 3Cs, 7Ps, service blueprint, and understanding the unique characteristics of services. By implementing your recommendations, [Your Chosen Service Business] can strengthen its marketing strategies, improve customer satisfaction, and achieve sustainable growth.
Sample Answer
Introduction:
This report analyzes the marketing strategies of [Your Chosen Service Business], considering the 3Cs, 7Ps of services marketing, service blueprint, and providing recommendations for improvement. It then explores the fundamental differences between products and services and the implications of these distinctions for service marketing.