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Module 2 Part C

The document discusses market research and the service development cycle. It describes the role of marketing research at different stages, the steps in marketing research, and the service product life cycle. It also outlines opportunities and challenges in the service sector.

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Rajesh Cheda
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8 views

Module 2 Part C

The document discusses market research and the service development cycle. It describes the role of marketing research at different stages, the steps in marketing research, and the service product life cycle. It also outlines opportunities and challenges in the service sector.

Uploaded by

Rajesh Cheda
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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PART C: MARKET RESEARCH

Concept and Challenges of Service positioning


Service Strategies
Market research and Service development cycle
Opportunities and challenges in service sector
Service Flower Model
1.3 Service Strategies

Concept of Marketing Research

According to American Marketing Association, marketing research


is, “the systematic gathering, recording and analysing of data
about problems relating to marketing of goods and services”
Features of Marketing Research
Systematic
Process
Limitations Scope

Methods of Continuous
data collection

Marketing Mix Applied


Decisions Research

Bridges
Company
company
Objectives
customer gap
Role of Marketing Research
• Concept testing
At
• Service design post-launch
• Site/location of stage
delivery • Level of customer
• Pricing decisions satisfaction
• Promotion mix • People management
decisions • Customer retention
• Physical evidence

At pre-launch
stage
Steps in Marketing Research
Identify and
Collection of Organising of
define
data data
problem

Conduct a Designing of Analysis and


preliminary sample or interpretation
investigation respondents of data

Determine Design Preparation of


data needs questionnaire research report

Create
Determine Follow up of
research
data sources report
design
Service Development Cycle
It refers to the various stages in the development of new services.

Idea
Review of generation Idea
service screening
performance

Concept
Commercial- testing
isation

Business
Market Analysis
testing
Service
development
Service Product Life Cycle
Development Stage
Development of new service product ideas, Investment in R&D, Product
tests or trials may be undertaken, Publicity may be undertaken to create
awareness.
Introduction Stage
Less sales, Less profit, More promotional expenses, Skimming or
penetration pricing may be adopted depending on nature of product,
Distribution coverage is limited.
Growth Stage
Increase in sales and increase in market share, More profits, More
distribution coverage, Changes in pricing depending on environmental
factors, Aggressive promotion and marketing strategy
Maturity Stage
Sales remain stagnant, Reduction in profits and market share, Retentive
advertising, Intense competition.
Decline Stage
Reduction in sales and profits, Withdrawal or modification of product,
Lower promotional expenses, Reduction in distribution coverage.
Opportunities in service Challenges in the service
sector sector
• Liberalisation of Indian • Challenges of intangibility
Economy • Challenges of
• Growth in service sector inseparability
• Increase in disposable • Challenges of
income inconsistency
• FDI • Problem of perishability
• Exports • Challenges of managing
• Population growth high demand
• Free trade agreements • Challenges of customer
• Availability of competent retention
professionals • Challenges of managing
workforce diversity
• Challenges of employee
retention
THANK YOU

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