Name: Piyush Thakar

Roll number: PGSM 1935

Q 1 For services organizations like airlines and banks , suggests separately the ways
through which they can tangibilize (introduce tangible in) their intangible services.

Ans. Services in the industries like airline & banks are intangible services. Intangible services are
those services which can’t be touched, they can’t be feel to a person. Tangible service are those
which can be feel and which can be touch.

Transportation of the items in the airline industry is the intangible service. Airline industry can
be differentiated itself by providing different services which are tangible in nature.

1) Music : Music is the best therapy while travelling. Airline industry gives this facility to
its customers which is a tangible in nature and people can also enjoy it.
2) Perfect seats and cushions: They are giving seats and cushions while travelling. It gives
them perfect immense pleasure of travelling.
3) Newspapers: News papers are also a tangible item so airline industry is using this item
for their customers. Substitutes items are magazines, it can also be serviced to the
passengers.
4) Staff uniforms: This is the best service airline industry is giving. Airline like Air India,
Indigo etc. have their dress uniform so that every passenger who is travelling can be
greeted by them.
5) Food or beverages: This is also a essential service which airline industries are giving.
6) Moreover services like logos of the airline industry, audio and video sevices, movies ,
color and design of the tickets are all considered as tangible services.

Banks could convert their intangible services into intangible services by following manner:

By involving more human efforts into their services which is intangible. This could be achieved
by showing the emotional concern and creating the relations more personified between the
product and services and its customers. For example, an advertisement showing the emotional
connect between the young couple and their child that how things could be cared for if
something bad contingency happens.

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By bringing an intangible product or service to life by linking the problems and help it in solving
the same. For Ex- an institution that lends money wants to promote refinancing options could
appeal to its customers or clients on a budget by comparing a mortgage refinance to get a raise.
Banks could provide the options of providing virtual and physical debit card which adds to
tangibility experience. Banks could give artful envelope on opening up of account by the
customer which make him feel nice and he could keep it forever which will always remind him
of better experience on account opening. The ambience, scent, comfortable chairs or sofas,
personal attention, this all adds to tangibility. Now some banks are providing facility to print the
customer or his family's photo on debit card which can lead to satisfied tangible experience.

Q 3 . Give your suggestions as to how each of the 7 Ps may be used effectively by a petrol
pump?

Ans . 7Ps can be effectively used by a petrol pump in following ways:

1) Products

In the products petrol pumps can use products like HSD (High speed diesel) ,castrol oil,
Single grade petrol . the benefits of the single grade petrol are it saves the petrol/diesel,
engine power can be improvise through this, friction of the vehicle can be reduced, it also
improvise the compression of the vehicle, it can be useful for the saving of electrical
power.

Castrol can be used in the hot climates. In the hot climates and in the dustry climates it
gives protection to the engine. The benefits of using this product is that it protects the
engine and the engine can be run for the long run and long life. When there is a oil
pressure in the engine this product can improve it. Castrol can also be used for the
reduction of corrosion.

High speed disel can be used for the heavy vehicles like excavators in the mining, heavy
automobile sector. It can be also used in the agriculture sector as well.
2) Price:

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 Pricing strategy for the fuel and the disel are almost same. There is no difference in their
price. Fuel price may vary depend on the committee which is set for deciding the price and it
can be set by the oil marketing companies. It can be revised as well. Lubricants like castrol
set their defined charges and it is mainly based upon the storage, handling and cost.

It can be set as competitive price strategy. Profit and services are the two parameter on which
the pricing is to be set.

3) Place:

This consists of the sources by which the fuel/diesel can be supplied. Out of the 7Ps place
can be defined as the distribution channel in which the product can be moved from
manufacturer to the retailer, wholeseller and to the end user or customer. Like the channel the
product(HSD) can be distributed to the end user is through tanks, lubricants like castrol GTX
can be moved through the lube vans. These lube vans can be moved from manufacturer to
dealers.

4) Promotion:

The promotion can be done through the hoardings , banners, advertisements, and campaigns.
This is done as to attract the customers with the more offered value and price of the product.
Th output of this promotion is to promote the outlook of the outlet.

Through various lights at the petrol pumps and adding the parks outlet near the petrol pumps
this can be another option of the promotion. Different types cards given to the cutomers like
prepaid cards, people who are working in the corporates can be given corporate cards.

5) People:

For the marketing mix it is one major parameter or you can say it is the important P of the
7ps. Employees are the important part of the organization and company should treat them

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 with all the incentives and medical treatment which are avail to them. If we talk about their
importance they are the assets of the company.

6) Process:

The process is defined as a game of demand and supply. Whenever there is a demand and
according to it there is a supply of petrol or diesel through the tanks. This can be done
through the nearest supplier and not through the farthest. The process is processed according
to the government rules and policies.

7) Physical evidence:

Physical evidence is basically the part of the 7Ps according to the raw material which is used
in the petrol pump. It gives the traits and features to the consumers that the consumers can
easily trust on them. Petrol pumps outlets are the examples of the physical evidence and it
can beneficial by building good buildings. Or outlets.

Q 2 The occupancy rate of a hotel in Jaipur is reducing. What pricing strategies of revenue
management the hotel can adopt to improve its occupancy and thereby increasing its
revenues?

Ans. The pricing strategies which a hotel should follow to improve the occupancy rate and also
increase its revenue are:

1) Forecasting:

This is the most important pricing strategy for setting up the prices which is totally based on
the demand. Hotel rooms must be charged according to the demand. For example : if the
demand is high the room rates may be high which leads to the increase in the revenue.

The parameters like occupancy, rates of the rooms, average spend on one room are the
essential ones to be kept with. This data is beneficial to make pricing decisions.

2) Constant and consistent rates:

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 This must be the same along over all the distribution channels. All the online platforms
should also maintain the consistent rates following the guideline. The benefit of this pricing
strategy is gives the transparency to the existing customers.

3) Price per segment:

The primary objective of this pricing strategy is like for the same product there can be
different price and the customers can also be different. Apart from that in the hotel industry if
he wants to increase the revenue he can sell out the rooms at lower prices to the agents so
that agents can get these multiple rooms in a good package.

4) Discount pricing strategy:

This is the another pricing strategy in which you can give the discount coupns to the existing
customers or the customers who are booking to your hotel and you can offer them coupns for
the future bookings.

5) Combo packages:

This package strategy would definitely allows every customer to get into your hotel. It
includes various products and services which can easily liked by every customer who so ever
come and avail these services. It can also be a part of increase the revenue.

6) Cancellation policy:

Cancellation policy is the another service that hotel industry can give it to their customers.
According to the needs and wants of the customers if hotel industry works then definitely it
can increase the revenue.

7) Taking reviews and feedback:

This is the resulting pricing strategy for the hotel to increase their revenue.

Q 4 During your visits to a bank you have account with, have you felt any gaps in services?
Indicate the expected and the perceived quality of the services provided by your bank
based on 5 parameters of the Gap Model to identify the gaps. Rating of the parameters
may be done based on your own judgement. How would you like the bank to overcome the
gaps, if any?

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Ans. Selection of the bank : Private bank sector

The parameters are TANGIBILITY, RELIABILITY, RESPONSIVENESS, ASSURANCE,

EMPATHY

Tangibility: E P GAP

Facilities 2.4 5.4 3.0

Outfit of the employess 4.6 5.6 1.0

Technology 6.1 6.6 0.5

Reliability:

Deliever service 4.6 5.6 1.0

Solving problems 6.6 5.6 -1

Promising time 6.7 5.7 1

Responsiveness:

Well response 5.9 6.7 0.8

Not delay in giving service 5.6 6.4 0.8

Assurance :

Courtesy 5.3 6.4 1.1

They have knowledge 6.1 6.6 0.5

Empathy:

Attention to every customer 4.8 6.4 1.6

Needs of the customer understanding

5.2 6.6 1.4

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