service marketing
TRANSCRIPT
A Presentation onSERVICE MARKETING
Prepared by…Ankit C. Makvana
Management Student @ NGI
Guided by…Prof. Monali Jani
College :
Noble Group of Institutions,Junagadh.
Outlines of Presentation
• Introduction to Service• Product VS Service• Indian Service Sector• Various Service Sectors in India• Growth• Reasons for Growth• Global Service Sector• Future Forecasting• Conclusion
Introduction to Service
Introduction to Service
• Service include all the economic activities whose output is not physical product
• Also called Tertiary sector
• Service marketing need relationship development
• Areas– Primary sector
• (e.g. Farming, Mining, Fishing)
– Secondary sector• (e.g. banks, hotels, real estate, education, health)
Product VS Service
VS
Product VS Service
Points Product Service
Who comes to whom ?
Product to buyer Buyer to service
Standardization or Customization
Standardization Customization
Tangibility Tangible Intangible
Ownership Transferred Cannot transferred
Role of senior manager
Managers are heroes
Front line people are heroes
Product VS Service
Points Product Service
Place Can be anywhere Should be atconvenient place
Involvement less High
After sales service Short duration Long duration till service end
Heterogeneity Same product for all
Can be different for 1 service
Indian Service Sector
• Always served the country’s economy well
• Stood at 12th position worldwide
• Stood at the 2nd position in providing employment
• Approximately 23% of total workforce employed
• Accounting for about 57 per cent of the gross domestic product (GDP)
• Financial services sector has been an important contributor
Indian Service Sector
Sector Wise Contribution to GDP
18%
25%57%
contribution (2012)
Agriculture
Industry
Service
13.90%
27.30%58.80%
contribution (2014)
Agriculture
Industry
Service
Various Service Sectors in India
Various Service Sectors
• Insurance
• Education
Various Service Sectors
• Health
Various Service Sectors
• Banking and Non Banking institutions
Various Service Sectors
• Hotels
Various Service Sectors
• Communication
Various Service Sectors
• Transportation
Various Service Sectors
Growth
5.40%
9%
10.90%
0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00%
Russia
India
China
growth rate
Growth Rate of Service Sector 2012
Growth of Service Sector in India
15%
51.16%53.80%
56.90% 58.80%
0%
10%
20%
30%
40%
50%
60%
70%
1950 1990-91 2005 2012 2014
Growth of Service Sector
Service Sectors wise contribution in India
18%
2%
13%
2%
8%
17%
7%
18%
15%
0%2%4%6%8%
10%12%14%16%18%20%
various service sectors contribution in 2014
Why Growing ?
• Easily availability of skilled educated employee
• Increase per capita income
• Leisure time
• Cultural change
• Life expectancy
• Life complexity
Why Service Sector Growing in India?
• Reserve Bank of India (RBI) has eased norms for mortgage guarantee companies (MGC)
• Pradhan Mantri Jan DhanYojana in August 2014 (the objective to cover 75,000,000 households with at least one account)
• RBI has simplified the rules for credit to exporters
• Indian Railway initiated proposal, for changes in FDI policy in order to allow foreign players
Government Initiatives
Global Service Sector
Global Service Sector
• More based on service sector as it is generating revenue from service and manufacturing sector
• In 1948 contribution to GDP was 54% which currently estimated around 80%
• In 1950 contribution to employment was 55% which currently estimated around 83%
79%
14%
4%
2%1%
sector wise contribution
Service
Manufacturing
Construction
Mining
Agriculture
Future Forecasting
• Banking assets in India reached US$ 1.8 trillion in 2013 and is expected to touch US$ 28.5 trillion by 2025
• Information technology (IT) services, the largest spending segment of India's insurance industry at Rs 4,000 crore (US$ 653.71 million) in 2014, is projected to continue strong growth at 16 per cent
• The total market size of the insurance sector in India was US$ 66.4 billion in 2013 and is expected to breach the US$ 350–400 billion by 2020
Future Forecasting
Concluding Lines
Thank You