Service Marketing - Research Paper Example

Commonwealth Bank has become the leading mortgage lender in Australia. Positioning strategy is a part of service marketing1. The organization has effectively gain believes and trust of the customers through their effective positioning strategy of services. The strategy and effective service process will be discussed later in the study. The literature review will give a clear idea that what is the positioning strategy and how this strategy helps organizations2. The positioning strategy only relates to the level of a particular service or a product.

Major of the theories, academic studies and concepts revealed that a product or service can be positioned on the basis of its needs to satisfy, quality, specific service features and benefits to be delivered. In terms of services, market performance is computable implementing the behavioural objectives and deemed to be implementable and appropriate for banking services. Loyalty is considered as the intended behaviour that involved the depositions of users or the customers of bank in terms of intention and preference that play a key role in order to determine the market performance.

It is a type of attitude that reflected in the eagerness in order to recommend the service provider to people or an actual observed behaviour in terms of repurchase. Strong positive connections between loyalty and image have been reported broadly in the area of service marketing. Moreover, it is reported that customer objectives to implement service encouraged by the advantages and benefits that they expect through the service. It is being embedded in the thoughts and believes about the service performance.

People are more likely to consume or purchase a service or a product if it is perceived to have key attributes that deliver advantages and benefits3. However, several academics have found a positive relationship between the market performance and the perceived