Service Marketing Assignment Example | Topics and Well Written Essays - 2000 words

Service Marketing - Assignment Example However, People today are more selective, alert, enlightened and powerful. Traditional concept of shopping has been changed, and now conventional shops and outlets are at the verge of extinction. This makes marketers to put their effort to categorize consumers according to their response toward the unfamiliar products/services. Marketing has been often misunderstood by many managers as investing huge amounts in advertising and sales. Innovations and technological advancements have made service/product marketing highly complex and competitive. This paper will discuss some essential marketing objectives, effective method of market research, and proper implementation strategies etc. with relevant examples and reasons. A consumer in his daily life confronts with hundreds of new products and service offers. The age of cutthroat competition is compelling marketers to innovate techniques to promote their products and services. Consumer behavior is a highly important factor in marketing operations. Each purchaser is unique and his needs also might vary from others. The new concept ‘consumer is the king’ has great importance in today’s marketing scenario. Customer acquisition and retention has become too difficult for organizations. It happens because of two reasons; competition is at its peak; and customers are highly informed. Hence market research and further planning has great significance in today’s business field. Theoretical aspects of advertisements have long term effect on certain segments of people. However, investing huge amounts in advertising and sales can not be justified as marketing. 1. The initial objective of marketing is to increase product awareness among the customers. Company should have a clear and measurable strategy to assess the results of its functions. As mentioned earlier, customers have become selective more than ever before. Hence, product awareness and incessant persuasion are essential