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The marketing plan also helps layout the necessary budget and resources needed to achieve the goals stated in the marketing plan. It is able to show what the company is intended to accomplish within the budget and also makes it possible for company executives to assess potential return on the investment of marketing dollars.
Services marketing is a specialized branch of marketing which emerged as a separate field of study in the early 1980s, following the recognition that the unique characteristics of services required different strategies compared with the marketing of physical goods.
Marketing strategy refers to efforts undertaken by an organization to increase its sales and achieve competitive advantage. [1] In other words, it is the method of advertising a company's products to the public through an established plan through the meticulous planning and organization of ideas, data, and information.
Customer service is the assistance and advice provided by a company through phone, online chat, mail, and e-mail to those who buy or use its products or services. Each industry requires different levels of customer service, [ 1 ] but towards the end, the idea of a well-performed service is that of increasing revenues.
The marketing plan identifies key opportunities, threats, weaknesses, and strengths, sets objectives, and develops an action plan to achieve marketing goals. Each section of the 4P's sets its own objective; for instance, the pricing objective might be to increase sales in a certain geographical market by pricing their own product or service ...
The prospect of expanding or modifying the marketing mix for services was a core discussion topic at the inaugural AMA Conference dedicated to Services Marketing in the early 1980s, and built on earlier theoretical works pointing to many important problems and limitations of the 4 Ps model. [20]