Marketing Masterclass 2020 – 80 Hours – 10 Course in 1

Welcome to this course on Services Marketing, I am the Zillur Rahman, a professor in the

Department of Management Studies at IIT, Roorkee. Across this course, we will give a

special emphasis on Integrating People, Technology, and Strategy. Let me explain to you why

this is important? As you know that competition is changing every day it is becoming more

intense and your competitors are coming with newer technologies.

Now, companies have to skill their employees in these new technologies. The employees

have to unlearn the older skills and learn new skills. Companies at the same time have to

educate the customers in using those techniques and to educate and make them aware of how

these new technologies are going to benefit them.

Now, with all these changes, changes happening in the environment, companies also have to

then, take these changes into consideration and incorporate them into their strategy. So,

they remain relevant to the customers as well as employees. So, this is the uniqueness of this

course that also this course we will be talking about how to go about integrating technologies

people and a strategy.

This course is divided into five sections and it has 40 modules. These are those 40 modules

the five sections are. In the first section that is ended understanding service products,

consumers, and the market is spread across 8 modules. The second section that is on applying the

4 Ps of marketing to services, it spread from module 9 to 19. The third section is on managing

the customer interface that will cover modules 20 to 29.

The fourth module has the will, will be talking about developing customer relationship that

spreads from the module 30 to 35 and in the last we will be talking about, in the fifth section

is striving for service excellence, this covers module 36 to 40. Now, let us start with the first

section that is understanding service products, consumers and market. In the first three

module, that is Module 1, 2 and through 3, we will be talking about new perspective on

marketing in the service economy.

Let us start with module 1. So, we are not talking on New Perspectives on Marketing in the

service economy. So, we will be talking about understanding how services contribute to a

country’s economy and the principal industries in the service sector. We will then identify the

powerful forces that are transforming service markets.

This is the overview of this course, we will talk about why should why we should study

services marketing? And then we will talk about the various definitions of services, we will

then move on to the service sector, what are the industries in the service sector?

The categories of service by the types of processing then we will move on to the key trends

and then, we will also talk about services for what are the distinct challenges that services for

opposes for marketing? And then we will talk about the functions and the service profit chain

and how we should put services strategy into action? So, this is this is what we are we will be

talking about through these modules.

Now, why we should study services? So, the first important point is that services dominate

the global economy. There is an increasing size of service sector across the globe, across the

globe across all the countries the size of service sector is increasing and the relative share of

employment between agriculture and industry and services is changing dramatically.

The, this proportion of employment that comes from agriculture or manufacturing or services

it is changing and even in emerging economies, the service output is growing rapidly and

often represents at least half of the gross domestic product. So, it is about 50 percent of the

GDP that comes from services and the rest 50 percent comes from agriculture and industry.

So, that is why it is important that we should study services.

Now look at this, this slide it shows the evolution of service dominated economy. On the x

axis we have time and per capita income. So, it moves from left to right and from lower to

higher and then on the y axis we have share of employment again it moves from, bottom to

the top as we go up. So, now you see that, these services, the contribution of services in the

GDP and per capita income has increased tremendously.

This slide shows the contribution of service industries to the GDP globally. So globally,

services account for 63 percent of the global GDP, 31 percent comes from manufacturing,

and 6 percent comes from agriculture. So, it is more than 50 percent of the GDP across of the

globe that services contribute to.

This slide shows the size of service sector in various economies. So, you see that on the top

we have countries like Bermuda and Hong Kong and Bahamas and at the bottom, we have

countries like Indonesia, Laos, and Saudi Arabia.

So, this shows the service as percentage of GDP. So in Bermuda is 94 percent of the GDP

while in Saudi Arabia it is 36 percent of the GDP and there are lots of, in India the World

Factbook, 2015 shows that it is 57 percent and now it has increased to more than 60 percent.(Refer Slide Time: 06:13)