The Services Sector Marketing Essay Example | Topics and Well Written Essays - 3250 words

The Services Sector Marketing - Essay Example This will be important for the bank to win a larger client base by getting new clients and also maintaining its current clients. The HSBC bank is a major bank in the UK and has more assets than the rest of the banks. This aspect makes it less risky as compared to the other banks and it is able to pay for all the costs it incurs in the day to day running of the business. The service sector is also very important to the economic wellbeing of a country as it contributes a considerable amount to the GNP. The essay will therefore seek to impart knowledge about the services sector marketing. It will also explain about the gaps model and its usefulness in improving the effectiveness of marketing. This model was developed by authors and was based on the quality of service. The model was made based on the perceptions of the consumers towards the quality of service. It was concluded that the service quality depended on four gaps. Some in-depth measurement scales were developed a year later. Th e perceived service quality can be said to be the difference between the expectations of the consumer and their perceptions. This will depend on the four gaps' sizes and directions with respect to the way the service quality is delivered as per the requirement of the company (Vovici Cooperation, 2009, pg 1). The gaps are grouped into an overall customer gap which is further classified into provider gaps. The provider gap has 4 gaps. Under the provider gap, gap 1 is lack of knowledge of the customers' expectation; Gap 2 is the lack of proper designs and standards; Gap 3 is the lack of delivery as per the service standards; and finally Gap 4 is the lack of matching the performance according to the promises the organization made. The provider gaps are known as internal gaps. The overall objective is to close these gaps. The model aims at connecting the internal and external customers (Vovici Cooperation, 2009, pg 1). Customer gap The factors leading to customer gap include gap 1 which is the lack of knowledge about the customers' expectations. This can be resolved through research which is aimed at finding out the needs of the customers. Various methods can be used to collect data from the people. These methods include questionnaires, observations and interviews. Through this, the organization is able to identify the various needs of the people and thus structure the services to meet these needs (Vovici Cooperation, 2009, pg 1). Research is important because the organization would otherwise have offered its services in the way they deemed fit which could have been contrary to the customers' requirements. Structuring services that are as per the customers' requirement of the customers will attract more customers and this will be to the overall benefit of the organization. In addition to this, the customers are happy to contribute or give their opinion to the way certain services should be and therefore identify with the organization. Another factor that leads to c ustomer gap is gap 2 which is the failure to select the right designs and standards for a service. Wrong designs and standards lead to the development of services which are of poor quality and do not meet the customer's needs. The customer is the center of focus and if this customer is not happy with the services he or she is being offered this is not good for the business.