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Product Components for Adaptation

Welcome to class of Services Marketing by Dr. Satyendra Singh Professor, Marketing and International Business University of Winnipeg Canada s.singh@uwinnipeg.ca https://abem.uwinnipeg.ca https://www.abem.ca/conference. Product Components for Adaptation. Product Component for Adaptation.

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Product Components for Adaptation

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  1. Welcome to class of Services MarketingbyDr. Satyendra SinghProfessor, Marketing and International BusinessUniversity of WinnipegCanadas.singh@uwinnipeg.cahttps://abem.uwinnipeg.cahttps://www.abem.ca/conference

  2. Product Components for Adaptation

  3. Product Component for Adaptation • Support Services Component (increase life) • Repair and Maintenance • Instruction Manuals characters • Installation instructions audio

  4. Services • Product: value physical Appearance • Services (consumer/industrial): ValueProcess • Services are major of world business • Service/total export= 30% in UK--highest • CanadaAgri, eng, insurance, r&d, mgmt. Consulting… • Definition of Services • Intangibility • Insurance, dry cleaning, hotel • Inseparability • Production and consumption is simultaneous • Heterogeneity • Individually produced, slight variation • Perishability • Cannot be stored

  5. Barriers to Entering International Services Markets • Protectionism • Professional pass certification exam in local language • Recognition of foreign credentials • Restricted movement of people • Intellectual Property • Trade-Related Intellectual Property Rights (TRIP)/GATTimplemented • Piracy—India, China • Data Transfer Across Borders • Individual data e.g. consumer preferences, insurance • Cultural Barriers • Smile while serving, talking in the class, tip x% in the USA, round fig. In EU, No tip in China! Long vacation packages for Japanese (10 days) vs. Las Vegas – 4 days

  6. Opportunities in International Services Markets • Insurance • ATM • Cable TV • Sports Events • Beijing Toronto International Hospital • Higher Education Demand (MBA) in India • Call Centres • After-Sales Services (SAS) • Standard Aero– spare engine while plane under repair! • P&G train superstore mgrs – ordering cycles and shelf stocking • Firms need to be responsive • Multi-site service centre – industrial products • Include local firms to improve SAS

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