Thursday, August 16, 2012

Top Reasons for Increased Need and Importance of Service Marketing

Need and Importance of Service Marketing
Marketing of services is a relatively new phenomenon in the domain of marketing, since service sector is growing at phenomenal rate Service Marketing has gained in its need and importance. The following point brings out need and importance of service marketing:

1. Rise in the population creates different market for various kind of services, thus need for marketing of services acquired importance.

2. The increased competitive strength necessitates qualitative improvements in almost all areas. The high magnetite of competition also makes necessary to improve service areas such as after sales service, distribution, customer relationship etc.

3. Changing lifestyles due to cultural exchange & communication networks resulted in significant need for service marketing.

4. Countries which are technically backward more depend on human skills always emphasis on marketing activities.

5. Rising customer expectations, service companies with their marketing activities always strive harder to meet or exceed the expectation.

6. Few major reasons for increased need and importance of service marketing such as Customer retention , Customer loyalty , Customer satisfaction , Customer delight etc.