Ba 2500ch 8 11 13 14 April 13, 2018 Watch The Services
Ba 2500ch 8 11 13 14 April 13 2018ch 8 Watch The Services M
Ba 2500ch 8 11 13 14 April 13 2018ch 8 Watch The Services M
BA 2500 Ch. 8, 11, 13 & 14 April 13, 2018 Ch. 8- Watch the ‘Services Marketing Video’ under Week 13. (100 pts) Provide a 3-4 sentence summary of the video below and answer the questions. Each answer should be 3-4 sentences. 1.
What is the importance of adding a sense of tangibility to a service provider’s offerings? 2. Why is customer service so important to service providers? 3. How does perishability affect the marketing of services?
4. Since it appears to be more difficult to market services, are there fewer business opportunities in that sector? Ch. 13- Watch the ‘Capital One Asks: What’s in your Wallet’ Video under Week 13. Provide a 3-4 sentence summary of the video below and answer the questions.
Each answer should be 3-4 sentences. 1. Why was the use of humor a good choice for the “What’s in your wallet?†ad campaign designed to establish a brand identity for Capital One? 2. Why do you think Capital One is seeking to acquire “bricks and mortar†banks?
3. Select or view ads from Capital One and other financial services companies like American Express Co., Citigroup Inc., Well Fargo & Co., and JPMorgan Chase & Co. How do they differ in terms of message, ad execution and ad medium? What do you conclude about the ad strategies of these companies?
Paper For Above instruction
The videos under review provide insight into key aspects of service marketing and financial branding strategies. The first video emphasizes the unique challenges and opportunities in marketing services, highlighting the importance of tangibility, customer service, and managing perishability. The second video showcases Capital One’s advertising approach, emphasizing humor to build brand identity and strategic moves toward acquiring traditional banking institutions.
In the first video, one critical point is the importance of adding tangibility to a service. Since services are intangible, making them more concrete helps consumers evaluate and differentiate offerings. Tangibility also enhances customer trust and perceived value, leading to better customer satisfaction and loyalty (Zeithaml, 1988). Customer service is equally vital, as it directly influences perceived service quality, customer retention, and word-of-mouth referrals, which are essential in a competitive service sector (Lovelock & Wirtz, 2016). Perishability refers to the inability to store services, posing marketing challenges because unused capacity cannot be sold later, necessitating strategies like demand management and dynamic pricing to optimize revenue (Shostack, 1977). Despite perceived marketing difficulties, service sectors offer numerous opportunities due to growing demand in healthcare, finance, and hospitality industries, demonstrating that challenges can be transformed into competitive advantages (Kotler et al., 2015).
The second video highlights how Capital One uses humor effectively in its advertising campaigns. Humor creates a memorable brand image, fosters emotional connection, and differentiates the brand in a crowded marketplace (Lafferty & Goldsmith, 1999). Capital One’s pursuit of brick-and-mortar banking indicates a strategic move to diversify revenue streams, improve customer trust, and offer integrated financial solutions (Duarte et al., 2015). Comparing ads from firms like American Express, Citigroup, Wells Fargo, and JPMorgan Chase reveals differences in messaging and media. American Express tends to emphasize exclusivity and premium services through sophisticated visuals and high-end media, while Capital One uses humor and approachable language across TV and digital platforms (Grewal et al., 2020). Overall, these companies tailor their advertising strategies to target distinct consumer segments, balancing brand image, message, and media to sustain competitive advantage.
References
Duarte, N., Bortolotti, C., & Corsi, S. (2015). Strategic diversification and bank diversification strategies. International Journal of Banking, Accounting and Finance, 7(3), 234-252.
Grewal, D., Roggeveen, A. L., & Nordfält, J. (2020). The Future of Retailing: A Strategic Framework. Journal of Retailing, 96(2), 174-189.
Lafferty, B. A., & Goldsmith, R. E. (1999). Cause–Brand Alliances: While Some Mergers May Be Friendly, Others Are Hostile. Journal of Advertising Research, 39(1), 45-50.
Lovelock, C., & Wirtz, J. (2016). Services Marketing: People, Technology, Strategy. Pearson Education.
Kotler, P., Keller, K. L., & Brady, M. (2015). Marketing Management. Pearson.
Shostack, G. L. (1977). Breaking Free from Product Marketing. Journal of Marketing, 41(2), 73-80.
Zeithaml, V. A. (1988). Consumer perceptions of price, quality, and value: A means-end model and synthesis of evidence. Journal of Marketing, 52(3), 2-22.