Business Finance
Walden University Marketing of Products and Services Discussion

Walden University

Question Description

I’m studying and need help with a Marketing question to help me learn.

****No book, use peer reviewed USA based resources for the paper. Only need approximately 500 words****


When most people think of marketing, they often conjure the image of marketing a product. According to the CIA’s World Factbook, however, a surprising 60% of the world’s gross domestic product (GDP) is comprised of services, with the remaining percentage comprised of manufacturing and agriculture (www.cia.gov). Thus, it is imperative that marketing professionals understand the marketing of services as well as products. Do organizations market services differently than they market products? For this week’s Discussion, you will take a closer look at the challenges presented by marketing services.

Perhaps the best-known categories of services are financial services and health care services. If, for example, you decide to have surgery, it is very difficult to assess the quality, success, and even the pricing of the procedure. By contrast, you can find out precisely the cost of the post-surgical pain medication, the potential side effects of the pain medication, and instructions on how to use the pain medication. This is a simple example of differences between services and products.

For this Discussion, review the Readings regarding characteristics of products and services that might influence their marketing.

For this week’s Discussion, you examine marketing strategies to explore how a company can expand its market share.

By Day 3

Post the following:

  • Referring to your course text, identify three similarities among the marketing of services and products, and suggest why you think these similarities exist.
  • Identify two differences between the marketing of products and services.
  • Compare how easy or difficult it is to customize products and services.
  • For a particular service you use, explain how it is standardized for all purchasers or customized for you and why this standardization (or customization) is important.

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Final Answer

Hi, please see the attached paper. Have a look at it and in case of any edit, please let me know. Otherwise, it is my pleasure to have you as my buddy now and future. Until the next invite, Bye!

Running Head: MARKETING OF PRODUCTS AND SERVICES

Marketing of Products and Services
Name
Institution
Date

1

MARKETING OF PRODUCTS AND SERVICES

2

Marketing of Products and Services
Similarities among the Marketing of Services and Products
There are numerous similarities among them, the diversity of products and services. The
marketing of products and services requires the availability of different packages to suit different
target markets. For instance, various flavors of biscuits (product) and various types of airline
offerings (service). The other similarity is that both products and services need to have robust
distribution systems. The consumer wants to know where they can get ahold of the same.
Therefore, that information should be included in the marketing strategy. Lastly, both products
and services require an effective promotio...

DrReginaldWoof (22319)
Boston College

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