Differentiate between product marketing and service marketing. Justify your answer with suitable example.
Answers
product vs service marketingMarketing of products and services involves different strategies due to the dissimilarities in their characteristics. While in product marketing, the aim is to fulfil the needs and wants of the target population. As against, in service marketing, the firm seeks to create a good relationship with the customer, to win their trust.
The two most important activities undertaken by the business is production or procurement of products and its distribution to the end user. The procurement of raw materials and its conversion into a finished product is an easy job. However, the disbursement of the product is a strenuous one, because creating a place for a product in the market is a bit difficult task, as the market is already flooded with lacs and lacs of products, where no one knows about your product and in this way the marketing comes into the picture.
Nowadays, marketing is not confined to the product, but services, ideas, property, experiences and even people are marketed. The marketing activities are aimed at creating an impression of the product or service in the consumer mind, in such a manner, that your brand becomes a synonym for that particular product or service. Here, in this article, we are going to talk about the differences between product and service marketing, read carefully.