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Differences between marketing a product and a service

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Many business owners make the mistake of thinking that all marketing is alike. However, you may be surprised to learn that there are significant differences between marketing a product and a service. Each kind of marketing can present its own unique challenges. However, in order to be successful you will need to gain all of the information about each type of marketing. When you can gain the information you need for each type of marketing you are far more likely to run a successful marketing campaign no matter if it is for a product or a service. The bottom line is that there are differences between marketing a product and a service and savvy business owners would do well to know what those are.

- Tangible versus intangible-One of the major differences between marketing a product and a service is that a product is tangible where a service is not. This means that it can be somewhat more difficult to market a service. The reason for this is that when you are marketing a product your customer can pick it up and hold it in their hands. They can even test it out before buying it. In addition, when a product is purchased the customer will pay for it and expect delivery. When you are marketing a service it will have to be much more customized to your clients needs. Depending on what your target market is looking for you, you may even have to make alterations to your service. In addition, since the service is intangible your customers may ask you to make alterations or fix problems that were not initially apparent. Finally, it is important to know that because of the intangible nature of services they can have an adjustable amount of profit. You will have to take all of these factors into account when you are marketing either a product or a service.
- Developing a relationship-One of the other major differences is the type of relationship you will need to develop with your customers whether you are marketing a product or a service. For either a product or a service you will need to do market research to determine who your target market is. However, after you have determined that, the marketing relationship will be vastly different. While a marketing relationship with your customers is crucial for selling either a product or a service if your product is good enough and satisfies your customer's needs they are far more likely to come back and buy from you despite how they feel about you. However, it can be much more complicated to meet your customer's needs and establish a marketing relationship with them when you are marketing a service. Keep in mind that when you are marketing a service you will need to be interacting with your customers on a regular basis so that they will feel confident and comfortable while continuing to patronize your business. In other words a service is a more intimate connection with your customers so if they don't feel that you have their best interests at heart they may quickly move onto another company that they feel does.
- Putting together a marketing budget-Another major difference between marketing a product and a service is the budget. It can be much more straightforward to market a product. It is usually pretty easy to determine what your marketing budget will be to market a product while service marketing can be much harder to figure out. The problem with developing a marketing budget for a service is determining the initial price of the service and then adding in marketing costs. You will need to carefully research what the comparable service is being priced in your area and then determine your pricing and applicable cost for marketing.
- Tangible versus intangible-One of the major differences between marketing a product and a service is that a product is tangible where a service is not. This means that it can be somewhat more difficult to market a service. The reason for this is that when you are marketing a product your customer can pick it up and hold it in their hands. They can even test it out before buying it. In addition, when a product is purchased the customer will pay for it and expect delivery. When you are marketing a service it will have to be much more customized to your clients needs. Depending on what your target market is looking for you, you may even have to make alterations to your service. In addition, since the service is intangible your customers may ask you to make alterations or fix problems that were not initially apparent. Finally, it is important to know that because of the intangible nature of services they can have an adjustable amount of profit. You will have to take all of these factors into account when you are marketing either a product or a service.
- Developing a relationship-One of the other major differences is the type of relationship you will need to develop with your customers whether you are marketing a product or a service. For either a product or a service you will need to do market research to determine who your target market is. However, after you have determined that, the marketing relationship will be vastly different. While a marketing relationship with your customers is crucial for selling either a product or a service if your product is good enough and satisfies your customer's needs they are far more likely to come back and buy from you despite how they feel about you. However, it can be much more complicated to meet your customer's needs and establish a marketing relationship with them when you are marketing a service. Keep in mind that when you are marketing a service you will need to be interacting with your customers on a regular basis so that they will feel confident and comfortable while continuing to patronize your business. In other words a service is a more intimate connection with your customers so if they don't feel that you have their best interests at heart they may quickly move onto another company that they feel does.
- Putting together a marketing budget-Another major difference between marketing a product and a service is the budget. It can be much more straightforward to market a product. It is usually pretty easy to determine what your marketing budget will be to market a product while service marketing can be much harder to figure out. The problem with developing a marketing budget for a service is determining the initial price of the service and then adding in marketing costs. You will need to carefully research what the comparable service is being priced in your area and then determine your pricing and applicable cost for marketing.

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