Wall Street Journal Summary

Chapter 1 Service Marketing

Service- Services are deeds, processes, and performances provided or copyrighted by one entity or person for another entity or person.

        4 Types of Services-

1. Service Industries- Lodging(hotels)
2. Service as a Product- Macy’s gift wrapping
3. Customer service
4. Derived service

Why study service Marketing?

1. Service as a business imperative in manufacturing and IT. – Service lead growth(need service to grow),
2. Deregulated Industries- Professional services standard to allow advertising
3. Service Marketing is different- Skills and experiences aren’t directly transferrable (Good Employees= Better Service) New concepts and approaches.
4. Service equals profits- Dedication to quality service is a foundation to success

Service and Technology-

1. Potential new service- Ex: self driving car
2. New Delivery Methods- Ex- Bill paying, transactions, information seeking
3. Enabling customers and employees- Immediate access to information, responsiveness

        4.   Global Reach- No boundaries, easy to stay in touch

        5.   The Internet IS a service

        6.  “Dark Side” of technology- privacy, loss of human contact, confidentiality.

Name 4 Paradoxes

1. Control/Chaos- Technology can facilitate regulation or order and technology can lead to disorder
2. Freedom/Enslavement- Technology can facilitate indepence or fewer restrictions or vice versa
3. Efficiency/inefficacy- Sometimes makes it harder, other times easier 
4. Assimilation/isolation- Sometimes can facilitate human togetherness sometimes leads to human separation.

4 Characteristics of a Service!!

1. Intangibility- can’t be touched; it is an act or performance
2. Heterogeneity- No Service is delivered exactly the same way
3. Simultaneous Production and Consumption- Customer must be present when employee delivers the service
4. Perishability- Cannot be stored, exists at a certain time

Search, Experience and Credence Properties-