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Sm Assignment, Akanksha Jain, Mba-3rd, 05817003909

Sm Assignment, Akanksha Jain, Mba-3rd, 05817003909

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04/17/2011

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MASTER OF BUSINESS ADMINISTRATION
ASSIGNMENT ON SERVICE MARKETING
Submitted to: Submitted by:
 
Mr. Ajai Pal Sharma MBA 3rd Semester 
 
AKANKSHA JAINEnrolment. No. 05817003909
SESSION: 2010 - 2011
 
TECNIA INSTITUTE OF ADVANCED STUDIES
 
Approved by AICTE, Ministry of HRD, Govt. of India,Affiliated To Guru Gobind Singh Indraprastha University, DelhiINSTITUTIONAL AREA, MADHUBAN CHOWK, ROHINI, DELHI- 11008
5
E-Mail:director.tecniaindia@gmail.com, Website:www.tecniaindia.org
 
Fax No: 011-27555120, Tel: 011-27555121
 
QUESTION: Is it possible for an economy to be based entirely on services?SOLUTION:
Th
e service sector is going t
h
roug
h
almost revolutionary c
h
ange, w
h
ic
h
dramatically affects t
h
eway in w
h
ic
h
we live and work. New services are continually being launc
h
ed to satisfy our existing needs and to meet t
h
at we did not even know we
h
ad.Services make up t
h
e growing bulk of today¶s economy and also account for most of t
h
e growt
h
 in new jobs.
Th
e size of t
h
e service sector is increasing in almost all economies around t
h
eworld.
Th
ere are mainly following sectors in an economy:
 
F
inancial services
 
T
ourism
 
D
istribution
 
Healt
h
,
 
EducationGrowt
h
in t
h
e service economy also facilitates growt
h
in t
h
e rest of t
h
e economy. Services suc
h
 as energy, telecommunications and transportation are important to all sectors of t
h
e economy;financial services facilitate transactions and investment;
h
ealt
h
and education services t
h
atcontribute to a fit, well-trained workforce; and legal and accountancy services allow aninstitutional framework required to run a successful market economy.It is not possible for an economy to be based entirely on service sector.
Th
ere are mainly t
h
reesectors:
y
 
P
rimary sector 
y
 
Secondary sector 
y
 
T
erritory sector (service sector)
 
 Now-a-days, service sector contribute a lot to growt
h
of economies in t
h
e world but it is verydifficult for every country to
h
ave only one sector in its economies, not t
h
e ot
h
er sector.
F
or making an economy growing, it is very muc
h
necessary t
h
at a single country¶s economy s
h
ould
h
ave contribution from all sectors in its G
DP
.All t
h
ree sectors are dependent on eac
h
ot
h
er.
Th
ey mostly get t
h
eir business form one anot
h
er segments. So, absence of one segment can make misbalance in t
h
e economy.Main sector among service sector is transportation and banking and wit
h
out secondary and primary sector in t
h
e economy, its contribution is nil because bot
h
of t
h
ese sector get its businessfrom secondary sector i.e. different industries and primary sector i.e. agriculture.Agriculture provides various food articles and various ot
h
er natural t
h
ings and fulfills basicneeds of t
h
e country w
h
ereas many ot
h
er needs are fulfilled by secondary sector. It is verydifficult to avoid bot
h
of t
h
ese sectors in an economy.Service sector needs some basic infrastructure to develop for effective contribution, it is not possible for a country to develop infrastructure wit
h
out ot
h
er sectors.Service sector needs more skilled labour t
h
an ot
h
er sectors and all country does not
h
ave moreskilled labours like Asian countries. So, it is not possible for a country to employ only skilledlabour.
Th
erefore, we can say t
h
at a country is not based on service sector entirely.
Is it good for an economy to have a large service sector?
A country can
h
ave large service sector. It is good for t
h
at country to
h
ave large service sector.
Th
is can be proved by t
h
e following points:
y
 
Service sector 
h
as t
h
e ability to create jobs since many of t
h
e subsectors in services arelabor-intensive.
y
 
Th
e service sector 
h
as an important role in improving production efficiency and promoting tec
h
nical progress, in addition to directly satisfying consumer needs.
y
 
Service sector contributes in growt
h
of gross domestic product of a country.

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