Marketing a New Service Case Study Example | Topics and Well Written Essays - 13750 words

Marketing a New Service - Case Study ExampleThe service thusly conceived has the potential to generate revenue from two channels- the insurer and the medical centers. This is explained in greater detail in the section titled The Proposed Service.Targeting the ideal guests delineate as those who would need minimum financial outlay for the sale to close. These could be customers who ar already buying from the company and would therefore be receptive to newly ideasThis paper begins with a check over of literature which explores the key marketing concepts and principles that can be applied to the marketing of a new product or service. The review focuses on marketing of services, how the marketing of service differs from that of product and how the environment impacts marketing strategy and marketing efforts. The section reviews the 4 Ps of marketing, SWOT summary, McKinseys 7S model, stakeholder analysis, PESTLE analysis and BSC model.The next section of this paper explains in deta il the service being proposed, and analyses its profitability and feasibility. It discusses in detail about the marketing environment and gives background on the company that will launch this service. The section explores how marketing concepts discussed in the review of literature apply to this innovative service.2. Review of LiteratureTraditionally, marketing is explained as anything that creates wrinkle or keeps a customer. Blanchard (2003) states that customers are the reason for a company to stay in business and thus customer input and customer preferences must find almost all aspects of work. It is also said that Marketing consists of the strategies and tactics used to identify, create and maintain satisfying relationships with customers that result in value for both the customer and the marketer. This definition can be explained further. Strategies refer to the direction that marketing effort will assume over a period of time, while tactics are specified steps or decisions made in order to follow the strategies established. Strategic and tactical planning