Abstract

The report illustrates the changing domain of marketing hat has shifted from product marketing to Service marketing. Over the period time, with the emergence of globalization, technology and new business, the idea of service marketing has evolved. It has given rise to many service sectors, out of which healthcare, business services and social activities has become the basis of service sector globally.

The report further outlines the ethical consideration that the business in service marketing needs to make, since service sector is becoming the largest sector employing maximum number of people globally. Such legal consideration involves the act of transparency, trustfulness, full disclosure and environment harmony.

Introduction

The world economy and business is turning out to be a service market in near future. Over the period of time, the term marketing has been subsequently transferred to service, deeming the demand in the market for service. Though all the phase of industrialization started with product market, where organizations have been actively playing the role to offer innovative products in order to gain the market share and develop strong competitive edge.

In fact Michel Porter himself posited the basis of market on product marketing. However, now the trend is on change. Such change is due to the shared importance of the services to be received and gained by two parties, be it two developing countries or businesses that lie in development. In fact, in today’s era, the growth of service marketing has been much regarded with the growth of the economy.

SERVICE MARKETING Harvard Case Solution & Analysis

It has been assessed, that the whole globe has experienced the shift from the agriculture base to industrialization and then to service marketing. Such shift has brought the change in the meaning and definition of goods and services themselves. Now due to such crossing boundaries of goods with services, both the domains of marketing are considered to be one and not separate from each other. For example, buying a refrigerator is a product marketing decision, but receiving the service such as delivery and after sales services regarded as service marketing, hence dealt as one or essential part of product marketing.

Also, with the passage of time, the service market increased in size depending upon the economic support and awareness to the scope of service marketing in near future. Since the scope of service marketing differed from one part of globe to another, it has been seen that the huge international corporations have taken the service marketing path by offering the airline, banking insurance and telecommunication services on the market, while the other local players have taken the services such as laundry, investment management, beauty parlors and numerous business to business services.

Also, it has been analyzed that the service sector is going through the revolutionary changes. In 2008, after the breakthrough of the economic crisis allover the globe, the markets transformed from the producer base marketing to service base marketing, in order to survive in the economy crisis.

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