Chapter 11 Marketing of services

--->  Intangible: Customers can't see, touch, smell, or handle services before deciding whether to buy.

--->  Inseparable: Services are usually delivered and consumed simultaneously,

--->  Perishable: Services are used up upon delivery, not stored for future sale.

--->  Services marketing is a lot similar to seven notes of Music

--->  Marketing mix – Product, pricing, promotion, place

--->   Extended marketing mix- Product, pricing, promotion, place, People, Physical evidence, process

--->  Marketing and sales are not same. While marketing involves all those activities that bring the people forward for purchase, sales actually converts these interested people into customers.

--->  Product life cycle stages are introduction, growth, maturity and decline.

--->  PEST (POLITICAL, ECONOMICAL, SOCIAL AND TECHNOLOGICAL)

--->  "Pull" marketing- A type of marketing that attempts to persuade the customer to try a product and continue to use the product. Advertising is an example of it.

--->  "Push" marketing- A type of marketing in which the product is "pushed" from the seller to the consumer. Direct sales force, contests, free trials etc. are its examples.