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1、International Journal of Application or Innovation in Engineering & Management (IJAIEM) Web Site: www.ijaiem.org Email: editor@ijaiem.org Volume 5, Issue 6, June 2016 ISSN 2319 - 4847 Volume 5, Issue 6, June 2016
2、 Page 36 ABSTRACT Every social and global issue is a business opportunity just waiting for the right kind of inventive Entrepren
3、eurship, the right kind of investment, the right kind of collective action. Peter Drucker The aim of this paper is to understand the impact of services marketing 7P’s (Product or Service, Price, Place, Promotion, People
4、, Physical Evidence, Process) in the accomplishing of competitive advantage against marketing 4P’s. Modern marketing companies are blending all the 7Ps of services marketing in their marketing activities to retain exist
5、ing customers as well as to attract potential ones in Indian Market. A significant body of literature has revealed that the 4Ps of the marketing mix have emanate under disparagement by many marketing scholars from di
6、fferent perspectives. For services businesses, the customary marketing mix framework should be prolonged to include the other 3Ps (people, process and physical evidence) as deliberatefoundations, which distress companie
7、s’ enactment. The Service Marketing Mix comprises of seven decisions which should be considered before launching a product. Firms should plan targeted approach on these seven different components and they are Product,
8、 Price, and Place, Promotion, People, Physical Evidence & Process. All the seven variables help the firm in articulatingpremeditated decisions necessary for competitive advantage. The main objective of this articl
9、e is to style the importance of relationship of 7P’s of service marketing mix for attaining competitive edgeabove 4P’s of product marketing mix in market. Marketing Mix comprises of Product marketing mix and Service ma
10、rketing mix. Keywords:-Competitive Edge, 7P’s, 4P’s, Product Marketing Mix & Service Marketing Mix 1.INTRODUCTION The marketing mix is a corporate tool used in advertising and by marketers. The marketing mix is ofte
11、n crucial when determining a product or brand's offer. The marketing mix refers to the set of actions, or tactics, that a company uses to endorse its brand or product in the market. The term “marketing-mix“ was fir
12、st coined by Neil Borden, the premier of the American Marketing Association in 1953. It is still used today to make important decisions that lead to the accomplishment of a marketing plan. The innumerabletactics that a
13、re used have evolved over time, especially with the increased use of technology. Implementation of marketing mix in Indian Market Year 1980s onward, many marketing researchers intend new concept ‘P’ into the marketing
14、 mix. Judd (1987) proposes a fifth P (people). Booms and Bitner (1980) add 3 Ps (participants, physical evidence and process) to the original 4 Ps to apply the marketing mix concept to service. Kotler (1986) adds parti
15、san power and communal opinion formation to the Ps concept. Baumgartner (1991) suggests the concept of 15 Ps. MaGrath (1986) submits the tallying of 3P’s (personnel, physical facilities and process management). Vignali
16、s and Davis (1994) suggest the totaling of S (service) to the marketing mix. Goldsmith (1999) suggests that there should be 7P’s (product, price, place, promotion, physical evidence, process and personalization). A Con
17、ceptual Study of Service Marketing: Competitive Edge of 7P’s over 4P’s in Indian Market 1Mr. Rakesh D, 2Mr. Srinath B V, 3Mr. Naveen R Karki 1Asst. Professor Bapuji Academy of Management & Research SS Layout, Lake V
18、iew Campus, Davangere 2Asst. Professor BIET-MBA Programme SS Layout, Lake View Campus, Davangere 3Managing Director CAD/CAM/CAE/WEB Application Engineering Services & Training International Journal of Application or
19、Innovation in Engineering & Management (IJAIEM) Web Site: www.ijaiem.org Email: editor@ijaiem.org Volume 5, Issue 6, June 2016 ISSN 2319 - 4847 Volume 5, Issue 6, June 2016
20、 Page 38 as telecommunication , financial, all types of hospitality, car rental, air travel, health care and professional at the global level. According to Mintel
21、9;s report, 66% of consumers in United States do prefer service in products because of high cost, while 34% say there is lack of availability of service of products in the market. This shows the huge potential for unta
22、pped market and customer demand and requirement for service of products which the companies can exploit for capturing the market share and thereby enhancing the profitability and sustainability of the organization in th
23、e global competitive scenario. 7P’s in SERVICE MARKETING: AN INDIAN SCENARIO The subject of service marketing is vast, having important implications for business strategy and public policy. Clearly, service marketing
24、is part and parcel of the overall corporate strategy. Service marketing also ties closely with issues of industrial policies and environmental sustainability such as extended producers liability, life-cycle analysis, ma
25、terial use and resource flows, and eco-efficiency. In Indian scenario customers expect the physical appearance and the evidence of a product rather than the theoretical experience. Which acts as a very important tool t
26、o the customers to purchase a good or product. They expect large number of customers which is old and tradition methodology and also acts as myth for them to become loyal to a particular product. So the additional 3P’s
27、 acts a very important role in service marketing which became a competitive edge for the traditional method of 4P’s in product marketing. Potential of 7P’s In Indian Market: Telecom Industry: ? The rapid growth in Indi
28、an telecom industry has been contributing to India GDP’s at large. ? Privatization was gradually introduced first in cellular and basic services, followed by value added services. ? Upcoming service such as 4G and WiMA
29、X will help to further augment the growth rate. Services Ex: VAS, Blackberry wireless handheld, Live Portal, Caller line identification, On-the –move information service, Cheapest call rates, Rewards on usage, wide and
30、extensive presence, customer care touch points, DND policy etc.. Transportation Industry: ? Elegant interiors with well-designed seats more leg room as a luxury. ? Booking offices and ticket counters are extremely spa
31、cious and well designed with good looks. ? Class of travel, Load factors, Profit margins and also well established distribution channel. ? Planning and developing the right type of product that will satisfy fully the n
32、eed of customers. ? Generic Product, augmented service, potential service, sales discount are the part of promotion. Banking Industry: ? The products are like deposits, advances & loans, Consultancy, investments and
33、 international banking. ? Services like credit cards, demat services, online money transfer, mobile banking, micro credit, agricultural banking etc. ? Pricing like less interest rates, consulting fees, commission. ? Pl
34、aces like more branches, ATM centers, Internet/Mobile Banking. ? People like Managers, Front line officers, employers. Hospital Industry: ? The product offering is a commercial intent having features of both tangible an
35、d intangible, by satisfying the new wants and demands. ? Quality level, Packaging, Accessories, brand name is retained at the standardized manner. ? Various product services like: Heart, Orthopedic Spine, Cancer Care, G
36、astroenterology, Neuroscience, Nephrology, Urology Critical Care. ? Pricing fluctuations are handled carefully with some policies with value addition and quality indication. ? Assurance & Positioning is done with hi
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