Nobody downloaded yet

Forward Thinking Strategies for Boosting Your Business - Essay Example

Comments (0) Cite this document
Summary
The present essay "Forward Thinking Strategies for Boosting Your Business" aims to provide managers in Service industry with a set of guidelines which they should consider while managing their offered services. Reportedly, in recent years the service industry has flourished dramatically. …
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97.3% of users find it useful
Forward Thinking Strategies for Boosting Your Business
Read TextPreview

Extract of sample "Forward Thinking Strategies for Boosting Your Business"

Download file to see previous pages Today the experts seem to be more interested in focusing on how to manage and market their services instead of products. This essay will help to understand the main features of this rapidly growing industry of the present era. [1]
Before the advent of the service industry, the definition of product used to encompass the functionality of service as well because that service was particularly related to those products. This type of service is known as 'after-sales service'. But now due to increased interest in the pure service industry, the scholars and professionals have begun to point out the differences between the two.
Both product and service are offered to the customers with the aim of fulfilling their needs and demands and earning profits in return. But the literature tells us that it is the 'characteristics' of service which make it different and configurable in comparison to the product. Those characteristics are explained as follows: [1]
Intangibility: A service is intangible because it cannot be touched, seen, possessed, owned, etc. Before using the service, a customer is unknown about its quality. And the service provider cannot assess and control the quality of service until and unless it receives the feedback of customers. It totally depends upon client expectations. So the customer is always uncertain about the value and quality of a service that he/she can experience after its use.
Inseparability: A service is inseparable from its provider. That's if the provider is not present the customer cannot use the service e.g. A patient cannot be treated until and unless a physician is present to examine him/her. It also poses that often a customer wants the service to be provided in a specific way or by some specific individual it enhances the pressure of perfection in that particular individual that directly provides the service.
Perishability: The service cannot be stored for future use or to present to someone as the specimen of quality. If the customer does not avail it, he cannot expect it to be there in the same condition, value, etc in future as well e.g. if a client misses the appointment with lawyer that time can never be captured again. At one time the rooms in the most renowned hotel in the city are available but after a few days, you might not get a single room vacant there. It means service greatly depends upon supply and demand.
Variability: The quality and consistency of service are subject to greater change because it is delivered by 'people' and the behavior of human beings cannot be controlled. They can be in good temperament at one time and in a depressed mood the other. Thus, the quality of service greatly depends upon experience, knowledge, attitude, style, personality, etc of the provider e.g. in a restaurant one waiter provides excellent service but another hardly knows how to please a customer.
These characteristics show that provision of service or 'service production' is totally based upon 'personal contact', also called 'people contact'; while a 'product manufacturing' does not need people (customers) for its completion. Both product and service are of two types in nature.  ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Managing Products and Services Assignment Example | Topics and Well Written Essays - 2250 words”, n.d.)
Retrieved from https://studentshare.org/business/1527257-managing-products-and-services
(Managing Products and Services Assignment Example | Topics and Well Written Essays - 2250 Words)
https://studentshare.org/business/1527257-managing-products-and-services.
“Managing Products and Services Assignment Example | Topics and Well Written Essays - 2250 Words”, n.d. https://studentshare.org/business/1527257-managing-products-and-services.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Forward Thinking Strategies for Boosting Your Business

Business strategies

...in various countries throughout the world where the organisation performed its business operations. This is due to the reason of the brand name that Toyota possesses along with the adoption of various significant new market development tactics that were initiated by Toyota. In this context, the crucial objectives of Toyota in relation to new market development strategy generally include gaining continuous market growth, increased market share along with attaining competitive position as well as boosting the profitability of the organisation. In order to fulfil these significant business goals, Toyota has largely focussed upon initiating certain crucial new market...
11 Pages(2750 words)Essay

Visual Thinking Strategies

...?Saab, Elise Graduate Muse E-120 Final Paper Visual Thinking Strategies Approaching the staff entrance to the Museum of Fine Arts, Boston (where I amcurrently interning) I noticed a group of school children and their teacher patiently waiting for one of the docents to bring them up to the gallery floor. As I scanned my badge in, I turned to their teacher and politely asked, “Is this your first educational trip to the MFA, are you here to see the new Linde wing?” “No,” she replied, “we’re here for a VTS tour.” “That is wonderful,” I exclaimed. After pausing, I politely stated, “I am just about to write a paper on VTS, would you mind telling me where you are from?” Kindly responding, the...
16 Pages(4000 words)Research Paper

Business Strategies

...fact the most of the organizations adopting hybrid strategies according to their own specialty, benefits market structure & organizational capabilities and structures. References: 1. Ansoff, H. I., 1987 Corporate Strategy (Revised Edition), Penguin, London. 2. Campbell, A. and Hunt, C. 2000, what we have learned about generic competitive strategy A meta-analysis, Strategic Management Journal, vol. 21. 3. Campbell, A., Goold, M. and Alexander, M. 1995, The Quest For Parenting Advantage, Harvard Business Review, March-April. 4. Chandler, A.D. 1969, Strategy and Structure, paperback edition, MIT, Boston, Massachusetts. 5. Lenz, R.T. and...
10 Pages(2500 words)Essay

Forward-Thinking, Outcome-Oriented Producer

...Confidential Resume of Sur Address, Post Country Mobile, Email: CAREER AIM International & Multinational MARKETING • SALES • BUSINESS DEVELOPMENT Forward-Thinking, Outcome-Oriented Producer Energetic and dependable contributor with technical prowess, proven leadership, highly developed multilingual communication skills and years of sales and management success. Innovative, resourceful and inventive. Identify opportunities and consistently achieve objectives. Education & Qualifications Date from – Date to 1996 Internal courses (Presentation + Negotiation skills / ILP Program) Business German Diploma, 1996 Goethe Institute - London, U.K. Date from –...
2 Pages(500 words)Resume/CV

Business strategies

...Please do not write about SABMiller and Avon, McDonalds and Subway, Wal-Mart and Starbucks, Coca Cola and sony, Dell Part Please write a small answer getting straight to the point. write it in discussion format Through reading of the business press, identify a firm implementing the global strategy and one implementing the multidomestic strategy. What organizational structure is being used in each firm?  Are these structures allowing each firm’s strategy to be implemented successfully? Why or why not?  Please be specific. Also, please attach a link to the article(s) that you referenced in your research. Answer: A successful global firm is Louis Vuitton...
1 Pages(250 words)Essay

Boosting employee morale

...Boosting Employee Morale Boosting employee morale enhances the realization of goals and objectives that guide the operations and activities undertaken in the workplace. Knowledge and skills are critically employed in the process, and the outcome can be assessed or evaluated in terms of skills or methods used against employee performance. The process to boost employee morale can be characterized by either success or failure, a scenario that can actually be tested. Increase in employee morale translates to improved employee performance, and consequently enhances operational success in the workplace relative to the activities that employees engage in. To test whether the skills or methods...
1 Pages(250 words)Essay

Proffessional Development for Marketers

...., & Berman, B. 2002, Marketing, Macmillan, New York. Giles, G. B. 2010, Marketing (5th Ed.), Pitman, London. Kotler, P. 2006, Principles of marketing (3rd Ed.), Prentice-Hall, Englewood Cliffs, N.J. Kotler, P., Hayes, T. J., & Bloom, P. N. 2002, Marketing professional services: forward- thinking strategies for boosting your business, your image, and your profits (2nd ed.), Prentice-Hall, Paramus, NJ. McDaniel, C. D. 2002, Marketing (2nd ed.), Harper & Row, New York. Paley, N. 2005, The managers guide to competitive marketing strategies (3rd ed.), Thorogood, London. Pride, W. M., &...
6 Pages(1500 words)Essay

Encouraging University Freshmen to Perceive Writing Positively

...Encouraging University Freshmen to Perceive Writing Positively Introduction I am 22 years old, and pursuing a major in pre-business. I come from China, and look forward to venturing into the world of consultancy. Being a second year student gives me an opportunity to reflect about my first year writing class. I took up the subject unsure of whether I would match the requirements of the unit. However, my fears vanished within the second week of learning as I got many materials to help me succeed. Consequently, I can assure any nervous incoming graduate from high school that they can make it, given the available and vast resources. Hard work also contributes to your success, and the...
4 Pages(1000 words)Essay

Your Creative Thinking Profile

...Your Creative Thinking Profile Introduction The prime intent of this essay is to describe and analyze personal creative thinking profile, followed by a job role, which best suits with the profile and the process through which the colleagues and others would be able to have a better collaboration with distinct styles of creative thinking. Discussion Based upon the course text of "Tapping into Our Creative Thinking Skills to Manage Complex Problems", the personal creative profile that goes parallel to me is the “Integrator.”The reason behind this is the excellence persistent in all the aspects of problem solving creativity style. These aspects can be...
2 Pages(500 words)Essay

Forward Contracts

...Advantages and Disadvantages of Using Forward Contracts and Options to Hedge Foreign Exchange Risk Introduction Hedging is a term used in the financial markets to refer to managing foreign exchange risks to an extent that makes it more bearable (Doupnik & Perera, 2007). Forward contracts are often used as a means for hedging risks associated with foreign exchange fluctuations. Forward contracts can thus be referred to as customized agreements between two entities to fix the exchange rates for the purposes of future transactions (Meera, 2009). On the other hand, option arrangements or standby contracts are other tools for liability and asset management, which when appropriately used, can...
2 Pages(500 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Forward Thinking Strategies for Boosting Your Business for FREE!

Contact Us