Services Marketing

Here are the top interview questions on Services Marketing, the questions are submitted by professionals to help you to ace the job interview.

Q.1 What are the primary challenges faced by the service industry?
Since every industry faces different challenges that are unique some of the difficulties faced by the service industry are, 1. Daffily in setting price 2. Lack of passion 3. Testing of new service 4. Difficulty in Standardization 5. Uncertainty of service offered 6. Managing Demand and Supply 7. No Patent Rights
Q.2 What is the primary principle of service marketing?
Clearly when a product does not work as expected we know it has failed, but how should we determine the failure of services. It is suggested it use the following principles to remember when you are marketing services - 1. Focus on service 2. Face Reality 3. Building Relationship 4. Innovation
Q.3 In general, which marketing tricks should a services provider focus on?
Some of the marketing tricks should a services provider must focus on are - 1. Preparing a marketing plan 2. Capture and store important data 3. Retaining existing customer 4. Social Media 5. Customer Rewards
Q.4 Give the differences between a product and a service.
A Product is something which we can see, touch and feel that makes it tangible and non-perishable. It remains same and standardized for each one. Such that in a product, the production and consumption are done at a different time. On the other hand a service is intangible, heterogeneous and perishable. The production and consumption of a service occur at the same time.
Q.5 State the characteristics of service.
Services have unique characteristics which make the marketing more impactful. Some of the characteristics of service are - 1. Intangible 2. No ownership 3. Inseparable 4. Perishable 5. Fluctuating Demand 6. Variability
Q.6 How an effective CRM strategy help a business increase revenues?
An effective CRM strategy help a business increase revenues by: 1. providing services and products that are exactly what customers want. 2. offering better customer service. 3. cross selling products more effectively.
Q.7 What is limit pricing?
Limit pricing set by a monopolist to discourage economic entry into a market.
Q.8 What is Brand extension?
Brand extension refers to the process when a successful brand is used to launch a new product.
Q.9 What are the benefits of market segmentation against mass marketing?
The benefits of market segmentation against mass marketing are: 1. The company can market more efficiently and target its programs toward only those consumers that it can serve best. 2. The company can fine-tune its programs to meet the needs of carefully defined segments. 3. The company may face fewer competitors if fewer competitors are focusing on the company’s chosen market segment.
Q.10 What does ethnography focus on?
Ethnography focuses on consumer experience within the context of interactions.
Q.11 What does the selling concept of marketing philosophy involves?
Consumers will not buy a product unless the organization demonstrates a selling and promotion effort.
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