Service Excellence in Marketing for Firms

Abstract

Innovation and differentiation are imperative for companies to sustain in the competition. Innovation and differentiation are possible more in services than in physical products. It is difficult to imitate differentiation incorporated in services. The study discusses the various marketing strategies adopted by service companies and the roles played by service profit chain. Service companies adopt different initiatives to achieve excellence. These include a strategic orientation, commitment from the top management, maintaining high standards, having profit tiers, monitoring service performance, and prompt action on customer complaints. The study discusses about differentiation of services, management of service quality, and management of service productivity. The study analyzes the strategies taken by service companies to achieve excellence. Proper implementation and execution of strategies provide a direction for service companies to excel, delight their customers, and develop long-term customer relationships.