Principles of Marketing

Management
Marketing of
Services
 Marketing of Services
Definition
Services marketing is a broad category of marketing strategies

focused on selling anything that is not a physical product. This

includes everything from personal services like medical care and

spa treatments, to the rental of vehicles and spaces, to experiences

like concerts and dance lessons.

 Marketing of Services
Characteristics of Service Marketing
1. Intangibility

2. Heterogeneity/Variability

3. Perishability

4. Inseparability

5. Changing Demand
Marketing of Services
Types of Marketing

Core Services

Supplementary Services
Marketing of Services
7 Ps of Service Mix
 Marketing of Services
7 Ps of Service Mix
 Marketing of Services
Service Marketing Triangle
International
Marketing
 International Marketing
International Marketing
International Marketing is defined as the performance of business
activities designed to plan, price, promote, and direct the flow of a
company’s goods and services to consumers or users in more
than one nation for a profit.
International Marketing
Challenges
 Competition

 Legal Restrains

 Government Controls

 Varied Consumer Behavior

 Ecological factors – Weather etc

International Marketing

Examples
 International Marketing
Scope in International Marketing
The exporter performs various activities, other than exporting the

goods and services.

 Establishing

 Joint Ventures and Collaborations

 Licensing Arrangements

 Consultancy Services

 Technical and Managerial Know-How

 International Marketing
How to enter the International Marketing?
Marketing of Bank
 Marketing of Bank
Definition of Bank
A Bank is a financial institution licensed to receive deposits and

make loans. Banks may also provide financial services such as

wealth management, currency exchange, and safe deposit boxes.

Marketing of Bank
Type of Banks
Marketing of Bank

Bank Functions
 Marketing of Bank
Marketing of Bank
Marketing of Bank refers the various ways in which a bank can

help a customer, such as operating accounts, making transfers,

paying standing orders and selling foreign currency, more

effectively and efficiently than the competitors, keeping in

view the organizational objectives of the Bank

 Marketing of Bank
Importance
Identifying the most profitable markets now and in future.

Assessing the present and future needs of customers.

Managing the various services and promoting them.

Adapting to a changing environment in Market.

Setting business development goals and making plans to

meet them.
 Marketing of Bank
Marketing Process in Banks
Identification of customer’s need.

Market Segmentation.

Development of Banking Products.

Price determination for Bank Products.

Setting up Distribution Channels.

Promotion of the product.

Training in Marketing

Forecasting and Research

 Marketing of Bank
7 Ps on Service mix in Bank
Marketing of Bank
Bank Products
 Marketing of Bank
Pricing in Banks
Pricing decisions related to interest, fee or commission.

RBI and IBA.

Raising number of customers.

 Marketing of Bank
Place
Services are sold from the Branches.

Making promised services available to ultimate users.

Out of the Branch; Rural Area, Car/Bike Showrooms

Marketing of Bank
Promotion
Marketing of Bank
People
 Marketing of Bank
Process
Standardization

Customization

Simplicity

Customer Involvement
 Marketing of Bank
Physical Evidence
Financial Reports

Interior

Stationaries

Employee Dress Code

Punch Line: “Hum Hai Naa”

 Marketing
Information System
 Marketing Information System
DEFINITION
The marketing information system refers to the use of

technology for the arrangement of the relevant data related to

the market, sales, promotion, price, competition and allocation

of goods and service.

Marketing Information System
CHARACTERISTICS
Marketing Information System
COMPONENTS
Introduction to
Product
 Product Planning & Development

What is Product?
A product is anything that can be offered to a market that might

satisfy a want or need. It is more than physical products;

includes services, places, persons, and ideas.

To create successful new products, the company must:

Understand it’s customers, markets and competitors – develop

products that deliver superior value to customers.

Product Planning & Development

A Products can be..

1. Goods 6. Place

2. Services 7. Property

3. Experience 8. Organization

4. Events 9. Information

5. Persons 10. Ideas

Product Planning & Development
Features of a Product
Thank You