Service Industry and Strategy Importance

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BASIC ELEMENTS OF A

STRATEGIC SERVICE

VISION12/12/2012 by mdrkarim7 in Finance

Here in short we would take a look in the

basic elements of a strategic service vision:

Target market segments:

Target market segments should contain the following

elements:

What are common characteristics of important

market segments?

What dimensions can be used to segment the

market?

-Demographic

-Psychographic?

* How important are various segments?

* What needs does each have?

* How well are these needs being served?
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* In what manner?

* By whom?

Service Concept:

Service concept domain should consider the

following factors, such as,

What are important elements of the service to

be provided stated in terms of results produced

for customers?

How are these elements supposed to be

perceived by the target market segment?

-By the market in general?

-By employees?

-By others?

* How is the service concept perceived?

* What efforts does this suggest in terms of the

manner in which the service is-

-Designed?

-Delivered?

-Marketed?

Operating Strategy:

In this operational section we would rather focus on

the following vital ingredients, for instances-
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recipesWhat are important elements of the strategy?

-Operations?

-Financing?

-Marketing?

-Organizing?

-Human Resource?

-Controlling?

On which will the most effort be concentrated?

Where will investments be made?

How will quality and cost be controlled?

-Measured

-Incentives?

-Rewards?

What results will be expected vs. competition in

terms of

-Quality of service?

-Cost profile?

-Productivity?

-Morale / Loyalty of servers?
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4/5



Service Delivery System:

Delivery is a pivotal part of the total service system

which means there are areas where necessary

actions be implemented, which could be as follows-

What are important features of the service

delivery system, including-

-The role of people?

-Technology?

-Equipment?

-Facilities?

-Layout?

-Procedures?

What capacity does it provide?

-Normally

-At peak levels?

To what extent does it-

-Help insure quality standards?

-Differentiate the service from competition?

-Provide barriers to entry by competitors?


5/5



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Well, if the above systemic approaches could be

answered correctly and professionally, a service

oriented business firm would definitely be sustaining,

subject to other conditions remaining the same in the

business environment.

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Service Industry and Strategy Importance