Reference no: EM133647908

Question: The seven Ps of services marketing are Product (service), price, place (distribution), promotion, people, physical environment, and process.

Product (service)-marketing products and services take different approaches because products are tangible, and services are intangible. These characteristics make products easier to market compared to services. Since services are intangible the marketer must be able to present a high-quality of service to win customers over.

Price-depending on the industry, price can be referred to in various ways. For example, the money paid for a hotel is a called a rate, which is a price; the money paid for an airline ticket is fare; the money one paid monthly to live in an apartment or for a home is called rent or mortgage. These are prices we pay for services.

Place (distribution)-place or distribution is very important when formulating service marketing. To initiate a successful service marketing, the marketer needs to consider various distribution locations. For example, tax preparation services such as H&R Block has a distribution locations in various places for providing tax services.

Promotion-promotion in service marketing is intended to show case the value or benefits of the service. Most ads use in service marketing are intended for this purpose.

People-people(customers) reactions toward the service being offered must be taken into consideration when planning service marketing. Customer will judge the quality of service as well as those who are offering the service.

Physical environment-the environment in which the service is being delivered is important. For example, the physical environment of a hotel or restaurant says a lot about the service being delivered. According to Kerin & Hartley (2022), "Service firms need to systematically and carefully manage physical evidence to convey the proper impression of the service to the customer".

Process-Process refers to the procedures, mechanisms, and flow of activities by which the service is created and delivered (2022). For example, hospital services follow processes.

In the simulation, the elements of the seven Ps of service marketing that would be implemented are promotion, price, and people. I believe that focusing on these elements would give a unique position in terms of market share. Relating to my current experiences, I believe that developing a unique serve is quite challenging especially if one is not an expert in the particular industry in which the service is created. Currently, my friend and I are venturing into service business for small and medium-sized businesses, and I do know how challenging it can be especially we are not experts in the area we are venturing.