Service Marketing Triangle | Triangular Marketing | Service Marketing Mix | Marketing Management
In this contemporary economy, Service Marketing is considered as the one of the major activities where more than half of the consumption expenditures are made for buying services. With the social development , cross-cultural exchanges and growth in Per Capital Income of people, the demand for the services is expanding among the people around the world.
The three major parties that are involved in service marketing include Company, Employees and the Customers. In order to gain competitive advantage in the service market, the companies must properly design an integration of these three major parties.
They are parties representing service Firm with different set of priorities and are guided by both short-term and long-term goals and objectives. They are interested in profit, growth and Long term sustainability.
They are the parties that deliver expected value and satisfaction to the customers through the service provided by service firms. The employees at the other hand are expecting a good living standard, recognition and career growth.
They are the parties that receive service at the end and have certain set of expectations of value and satisfaction from the service that is bought. Customers at the other hand expect value for their money that is pent in buying services.
Three Types of Marketing applied in Service Marketing Triangle are :
Communicating with the target market which involves setting the company’s promise of value and satisfaction to the customers.
Activities undertaken by the companies to train and motivate employees to serve the customers well .
In order to deliver the service as per the promise, service organizations must practice interactive marketing which indicates how employees communicate (talking skills) while providing services to the customers.