How can we achieve excellence in services marketing?

DESIGNING & MANAGING SERVICES

Marketing Excellence

Marketing excellence with services requires excellence in 3 broad areas:

1) External Marketing: Normal preparing, pricing, distributing and promoting service to customers.

2) Internal Marketing: Training and motivating employees to serve customers well.

3) Interactive Marketing: It describes the employees’ skill in serving the client.

Best Practices of Top

Service Companies

Strategic Concept

Top service companies are ‘customer obsessed’. They have a clear sense of their target customers and have developed a distinctive strategy for satisfying these needs.

In successful companies, top

management has a thorough

commitment to maintaining and

improving service quality.

Top-Management Commitment

High Standards

The best service providers set high quality standards.

!

Citibank aims at answering calls within 10 seconds and customer letters within 2 days.

Profit TiersFirms have decided

to raise fee and lower services for those customers who barely pay

their way, and try to retain big

spenders as much as possible.

Customers in high-profit tiers get

special discounts, promotional offers and special service.

Monitoring Systems

Top firms audit service performance, both their own and their competitors’. They collect Voice of the Customer measurements to probe customer satisfiers and dissatisfiers.

Created by Anngad Singh, Delhi Technological University,

during an internship by Prof. Sameer Mathur, IIM Lucknow.

www.IIMInternship.com