DMKT401 MBA SERVICE MARKETING & CUSTOMER RELATIONSHIP MANAGEMENT

Description

SESSION	JUL – AUG 2024
PROGRAM	MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER	IV
COURSE CODE & NAME	DMKT401 SERVICES MARKETING AND CUSTOMER RELATIONSHIP MANAGEMENT

 

 

 

Assignment Set – 1

 

 

1. Elucidate the evolution of service marketing. Critically assess the reasons for the growth of the service sector.

Ans 1.

Evolution of Service Marketing

The concept of service marketing has evolved significantly over the decades as economies transitioned from being predominantly agricultural and industrial to becoming service-oriented. Initially, marketing efforts were largely focused on tangible goods, and services were considered ancillary or supplementary. Over time, with the growth of service industries like healthcare, education, hospitality, and finance, the unique characteristics of services—intangibility, inseparability, variability, and perishability—were recognized, leading to the development of dedicated service

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2. Explain the services  marketing  triangle  and  its  three  key components and also describe why is the Service Provider’s Role Different? 2+5+3 

Ans 2.

Services Marketing Triangle

The Services Marketing Triangle is a strategic model that illustrates the relationships and interactions essential for delivering high-quality service. It emphasizes the interconnected roles of the company, employees, and customers in creating and delivering service experiences. The triangle is

 

 

3. How and when do customers form expectations? How do you exceed customer expectations?

Ans 3.

How and When Do Customers Form Expectations?

Customer expectations are the standards or benchmarks against which they evaluate a service or product. These expectations can be formed at various stages and are influenced by multiple factors:

1. Before the Purchase:
   Customers form expectations based on past experiences, marketing communications, online reviews,

Assignment Set – 2

 

 

4. Discuss the key components of the service communication mix.

Ans 4.

Key Components of the Service Communication Mix

The service communication mix encompasses the various tools and strategies organizations use to communicate with their target audiences about their services. It focuses on creating awareness, generating interest, and ensuring customer understanding of the service offering. Unlike tangible goods, services are intangible, which makes effective communication even more critical to bridge the gap between what is promised and what is delivered.

Here are the key

 

5. In what ways can digital transformation enhance the marketing of banking services? Also explain the four types of innovation in service marketing.

Ans 5.

How Digital Transformation Enhances the Marketing of Banking Services

Digital transformation in banking fundamentally changes how services are marketed, making interactions more efficient, personalized, and

 

6. Write a detailed note on Customer Development Process.

Ans 6.

The Customer Development Process is a structured framework that businesses use to identify, acquire, and retain customers effectively. It focuses on understanding customer needs, validating business ideas, and refining offerings to ensure a strong product-market fit. This process is particularly valuable for startups or businesses introducing new products and services, as it emphasizes learning directly from customers and iterating based on their feedback.

The process begins with