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Services Marketing Name: Instructor: Course: Date: Marketing is considered a holistic field which encompasses both the concepts of service and product marketing in equal measure. Unfortunately, this is not the actual case as a majority of people in marketing either as scholars or sales persons still overemphasize on product marketing.
Besides, the industry continues to grow in leaps and bounds to a point that currently about one and a half of start ups are service oriented. One major stimulant to this growth is the long term economic growth of a majority of these economies which has led to particular emphasis on financial services, travel, entertainment, and personal care. These sectors form the bulk of service industry and the fact that far more businesses are starting on the same levels implying that there is eminent need for improved marketing concepts. These factors, as well as continued lifestyle changes, are coming as continuous pressures on the service industries. These are aspects and elements that Shostack had foreseen in the writing of his article breaking free from product marketing. At the time, product marketing was dominant as most industries and companies were bent on producing tangible products. In fact, any company which bordered on services was forced to adapt product marketing approaches. This was bound to fail with time as consumers would, with time, adopt preferences and approaches that would clearly differentiate product and service aspects. ...
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