14 Aug Service Industry Project:The objective of this project will be to investigate on

Service Industry Project:The objective of this project will be to investigate one particular service industry (and firm in that industry) in order to apply various concepts introduced during the class and to acquire a deeper understanding of a particular service industry. You are required to form into teams of 2 or 3 in completing this project. An outline for preparing the service industry project is shown belowSERVICE INDUSTRY PROJECT OUTLINEPart 1: Industry Analysis1. What industry has your team selected? Why? (cite some primary reasons why the industry is attractive)2. Examples: Consumers are placing a premium on convenience with growing work loads. Consumers are seeking alternatives to flying with continuing fears of terrorist attacks.3. What are the current trends in the market industry? i.e., answer the question: Is it real? Break down trends into total, available (potential) and addressed market. Focus more on market drivers and less on numbers.4. What role does technology play in the industry, e.g. GPS and mobile communications technologies.5. Who are the major players in the industry? Think broadly. Example: Cruise lines compete with alternative forms of vacationing such as …6. Where would you locate this industry on the tangibility spectrum?Part 2: Service Offering Analysis1. What are customer expectations of service in this industry? e.g., What are the minimums to compete? Examples: customers might expect free shipping, no more than a 30 minute delay and online account status.2. What bundle of benefits are typically received by customers? These are the extras that distinguish the firm’s offering. Provide examples under social, psychic ownership and tangible benefits.3. How do the 5 service quality dimensions apply to firms in this industry?4. Which might be most/least important?5. What is the customer’s involvement in the service delivery?6. Perform a Gap Model Audit (see pp 44-45 in textbook). Results (i.e. scoring) should go in the appendix of your report, however a narrative summary/discussion of the audit results should appear in your report under a heading such as “Gap Model Audit Results”Part 3: Customer Loyalty Analysis1. What does it mean to be a loyal customer in this industry? i.e., What measures are used for loyalty (e.g., long-term commitments)2. How is customer loyalty defined by the firm? (e.g., market share, after-sales business, referrals, etc.) by the customer? (e.g., brand preference, repeat purchases, after-sales business, referrals, etc.)3. What is the lifetime value of a loyal customer in this industry? (see pp 187-188)). . Discuss the customer profitability categories4. What is done to encourage customer loyalty and retention in this industry? (e.g., use of loyalty programs)5. What is currently done to build customer relationships in this industry? (e.g., online customer communities)6. What could be done to build customer relationships in this industry?Part 4: Service Strategies1. What are the target segments of pursuit (use psychographics) – Example: we are targeting the cultural creatives and socially conscious.2. What positioning strategies are in place for the target segment? (e.g., promotional theme, price sensitivity, products and reach)3. What is the overall competitive strategy? – Example: the strategy is one of customer intimacy or operational excellence4. What is the strategy for growth (e.g., dimensions of reach, product scope and service scope)5. What are the star offerings and cash cows?6. What is the standard pricing procedure in this industry? Is it elastic? What factors were considered in establishing ceilings and floors? Did you employ a strategy of price skimming or price penetration? Consider what, if any, value pricing strategy is used (e.g. “More for Same, More for Less, Less for Less, More for Less, Same for Less)7. What promotion strategies are normally employed? To what extent to you capitalize on PR, sponsored events, advertising, sales promotions, native advertising (advertising that follows the format, style and voice of whichever platform on which it appears, e.g., the click-through rate for “sponsored story” ads on Facebook was 53 % higher in 2012 than for display ads)?8. What attempt is there to practice Integrated Services Marketing Communication (i.e. among traditional, social and mobile media and other communication channels, e.g., servicescape, interactive marketing)9. Discuss how the “expanded” service mix components (i.e. process, people, physical evidence) factor into the firm’s strategy)10. To what degree can the internet (marketspace) substitute for brick and mortar (marketplace) functions or service?Part 5: Service Blueprint1. Develop a house of quality starting with the 5 service dimensions and showing relative importance of each service quality attribute (see attached)2. Graphically represent the Service Blueprint Components similar to the example shown in Figure 8.4 (see p. 236 in textbook)3. Create (and explain)an actual service flow blueprint (see examples on pp 237-239 in textbook)Part 6: “Speculation” Section (SWOT analysis)1. In general, what are strengths/weaknesses of this industry? Use Porter’s five forces (rivalry, substitutes, buyer power, supplier power, barriers to entry)2. What opportunities do you see in this industry? (e.g., changing market dynamics)3. What are some looming threats in this industry? (e.g., sleeping giants)POSITIONING: how the company designs its offer/image so that target market understands & appreciates what company stands for versus competition6 APPROACHES TO POSTIONING1. “Attribute-Benefit” – Dominos Pizza Delivers2. “Price-Quality” – super-premium, premium, popular, economy beers3. “Product User” – Miller High Life (Champagne of Bottle Beer gave way to Miller Time)4. “Use or Application” – OJ is not just for breakfast anymore;5. “Product Class” – uncola; Parkay (butter or margarin?)6. “Competition” – We Try Harder (Avis); Tastes as Good as Budweiser, but atbetter price)The House of Quality is a tool used to develop a service architecture by applying the TQM concept of “Quality Function Deployment” or QFD. QFD as graphically shown in the service House of Quality helps to link customer requirements to design characteristics of the product/service.The House of Quality comprises three distinct sections: (1) customer quality criteria (what customers perceive); (2) service company facets (how these criteria are created by the firm, and (3) and the relationship grid (how these two areas are related)• CUSTOMER EXPECTATIONS – on the far left of the house are listed customer expectations of Village Volvo’s customer service• IMPORTANCE EXPECTATIONS – next to each expectation (on the chimney of the house) is listed the “importance” of each attribute to the customer• CONTROLLABLE ELEMENTS – the columns of the house represent the elements of service that the company has control over (e.g., training, capacity, equipment, attitude)• RELATIONSHIP AMONG ELEMENTS – the relationship among the elements of service are shown in the roof of the house (strong, medium, weak; the relationship between training and attitude is strong• ASSOCIATIONS BETWEEN EXPECTATIONS AND SERVICE ELEMENTS – in the body of the matrix are the numbers represent the strength of the relationship between each expectation and the related service element.• OVERALL IMPORTANCE OF SERVICE ELEMENTS MEETING CUSTOMER EXPECTATIONS – the weighted score on the floor of the house represents the total points for each element—calculated by multiplying the importance weights by the element association ratings and adding all the scor

Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.