Chapter Reference

Chapter 8: New Proposition Development and Innovation

Overview

In this activity, you will consolidate your learning about the marketing of professional services by assessing how companies within the Professional Services Marketing Group market themselves and how this differs from other sector approaches.

Activity Description

A service is any act or performance offered by one party to another that is essentially intangible. Services are characterized by five distinct characteristics, which are intangibility, perishability, variability, inseparability, and a lack of ownership. These aspects are crucial to shaping the way in which marketers design, deliver, and evaluate the marketing of services.

Go online to the Professional Services Marketing Group (PSMG) webpage.

Chose a profession from their site e.g. architecture, banking, real estate, insurance, marketing communications, engineering, construction, accountancy, management, consultancy. Look at how companies within this category market that particular service, and consider how this approach can be distinguished from another industry sector, for example, the marketing of fast-moving consumer goods.

Visit the following website:

http://www.psmg.co.uk