Service industry deals with intangible
benefits provided to customers for a particular price set by firm like insurance,
banking, computer services, restaurants, tourism, financial, educational
services etc. Nowadays, branding and advertising of the business is also being
done. So it also needs building an image for itself. Branding, advertising and
image building of business is somewhat different from product marketing. When we establish a firm, proper analysis
needs to be done to know market needs and customer’s demands in a better way. Product
research can be done by distributing free samples, which cannot be done in this
particular case. A corporation can become a good Image branding company when its focus shifts towards building its
brand value. Few parameters to design good brand image of service industry are
discussed below.
Quality
of Service
The service quality affects brand value of
firm. Quality should meet benchmark standards. Provided firm should have an
ability to perform promised service accurately, should be able to offer prompt delivery
and care for customer base. For effective management of quality, firm should
monitor, evaluate, upgrade and brief quality performance. Quality is a factor
that needs to be analyzed properly for designing a Best image branding company.
Refund
for Unsatisfied Service Parameters
Most of the service providers do not give
refund to consumers who are unsatisfied with parameters. For example, in
banking industry a person gets loan and is unhappy about EMI facility or interest
rate. He cannot return loan after it has been sanctioned. So the industry
should also provide refund for unsatisfied service parameters that are provided
to customers similar to product line manufacturing firms.
Reliability
and Assurance
Quality should be reliable such that purchaser
does not complain after buying service. For example an education industry is a
service sector but nowadays there are many colleges, which are not registered
under UGC (UGC is a government recognized organization that provides license to
Indian colleges). These unrecognized colleges or institutions award fake
degrees to students risking their future. So here we can say that service
quality is not reliable at all. If a firm provides reliable and assured
services to its customers, there is a maximum possibility that it become the Best image branding company in India or
elsewhere.
Advertising
A service industry also needs to do its
advertising and promotion. Apart from television and print media, other tools
can also be used like web marketing, publishing contents, email Marketing etc.
Promotion of service should be done in such a way, audience or end consumer
gains enough knowledge about product.
Competitiveness
Basis of competition in service industry is
superior performance of service, on time delivery, quicker settlement of
complaints, whether service quality meets standards or not and so on. If a firm
promotes its own unique service in market, it can monopolize itself in market
but in case there are similar services already existing in market then
competition arises. Competition helps in upgrading standard of service being
delivered.
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