Date post: | 18-Aug-2015 |
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Services |
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A Presentation onSERVICE MARKETING
Prepared by…Ankit C. Makvana
Management Student @ NGI
Guided by…Prof. Monali JaniCollege :
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
• 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
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 at convenient 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
• 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)
AgricultureIndustryService
13.90%
27.30%58.80%
contribution (2014)
AgricultureIndustryService
Russia
India
China
0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00%
5%
9%
11%
growth rate
Growth Rate of Service Sector
Growth of Service Sector in India
1950 1990-91 2005 2012 20140%
10%
20%
30%
40%
50%
60%
70%
15.00%
51.16% 53.80%56.90% 58.80%
Growth of Service Sector
Service Sectors wise contribution in India
Agricu
lture
Mining
Manufactu
ring
Power
Constructi
onTra
de
Transp
ort
Finance
Other
0%2%4%6%8%
10%12%14%16%18%20% 18%
2%
13%
2%
8%
17%
7%
18%
15%
various service sectors contribution in 2014
• 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
• 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
• 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