Sunday, October 15, 2017

Marketing strategies for service firms.

Service firms also use marketing strategy  to position itseft in the target market just like manufacturing business do. Service firms establish their positions through traditional marketing mix like others non services firms. Service firms differ from tangible product that's why they needs additional marketing approaches.

The service profit chain:

In this business, customers & service employees interact to co-create the service. Effective interaction create by skilled employee. Those companies are Successful who  focus their attention both customers & their employees. Who understand the service profit chain well, they satisfy the customers more. This chain consists of five links.

1. Internal service quality:  In this links, superior employee  select, training, quality, work environment, strong support system helps to deal with customers that result in profit of the company.

2. Satisfied & productive service employees: If the service firms satisfy its employees, create loyal & hardworking
 employees, then the firm can make huge profit.

3. Greter service value:  Service firms should be  effective & efficient  for making customer value that result into profit.

4. Satisfied & loyal customers: Once a firms successful to satisfy its customers, then it can obtain customer loyalty that helps repeated purchased & refer other customers to purchased.

5. Healthy service profits & growth:  Its superior service firm overall performance.

 As a whole, all of this are the strategy for service firms that make customers happy & this happy customers do more business with that firm

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