Tag «service economy»

8 most important reasons for the growth of services economy

8 most important reasons for the growth of services economy

Following points that can be made for services economy growth include: Increased leisure time and affluence serve to create increased demand for domestic services. g. recreation and entertainment, tourism, and hospitality services. Services are a significant means of adding value to a product marketing strategy, gaining, and maintaining competitive advantages, and securing key account relationships. …

Defining Services and understanding service economy

Defining Services and understanding service economy

What are services? A service is an intangible offer that one party makes to another in exchange for money or any other valuable thing. But the party who provide service does not get the ownership of anything. Services marketers and managers must appreciate that customers are often buying an experience that needs to be staged, …