Role of service quality in offensive and defensive marketing Get the answers you need, now! Journal of Marketing Channels, Vol. The Roles of Price, Quality and Value-Added in Industrial Distributor Purchasing Decisions. If your small-business has reached a market-leading position, you may need to use such strategies. Before we look at the model it is important to note that we are only concerned with the marketing of services. Marketing . 7, No. It also shows the key marketing activities that occur between those actors. In the service industry, definitions of service quality tend to focus on meeting customers needs and requirements and how well the service delivered meets their expectations (Lewis and Booms 1983). The model does not apply to products. 5. There are three broad categories of bank marketing strategy: defensive, offensive and rationalisation strategies. 11, No. International Journal of Service Industry Management, Vol. Defensive strategies are only used by market leaders in strategic management. The Services Marketing Triangle (or Services Triangle) shows the key actors involved in marketing a service business. Competitors can be defined as other firms that are located in the same market category or sell similar products to the same segment of people. Malaysia is opening parts of its services to greater foreign participation due to globalisation. If you're not doing that, you're not marketing – it's really that simple. Defensive Strategies in Strategic Management. Defensive marketing strategies refer to the actions of a market leader to protect its market share, profitability, product positioning, and mind share against an emerging competitor. Using service quality data for competitive marketing decisions. Local banks have since consolidated a decade ago and foreign banks expanding their businesses in local markets have intensified the competition. Offensive strategies attempt to penetrate new areas, expand geographically, seize market opportunities and adopt innovations in order to make the financial service organisation a leader in … Marketing is the process of letting consumers know why they should choose your product or service over those of your competitors. As a The authors also show that defensive marketing (e.g., complaint management) can lower the total marketing expenditure by substantially reducing the cost of offensive marketing (e.g., advertising). The key is to find the right method and to define the right message to educate and influence your consumers. Defensive strategy is defined as a marketing tool that helps companies to retain valuable customers that can be taken away by competitors.
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