Product Retailing Vs. Service Retailing. MBA Marketing Study Material.

Service section in every economy is as important as a product since it’s been proved that public spent 50% of its earning for all personal use of service. This post describes the differences between product retailing and service retailing.

Product Retailing	Service Retailing
Products are tangible in nature, consequently, overriding factors in product retailing which define the success of product are cost and quality of a product.	Services are intangible in nature, hence factors that overriding in service retailing which describe the success of service are timeliness, behavior and knowledge of service delivery professionals.
As products are physically available the relationship between retailers and customers can be developed by the frequency of consumer’s visit to the outlet or website in case of online business.	In case of service retailing, services are not physically available and cannot be touched and so the relationship between retailers and customers can be developed by only start buying it at least once.
In product retailing, it can be sorted, arranged and organized well.	In service retailing, services are intangible in nature and so cannot be sorted.
Standardization is an important factor which can be maintained in product retailing through a consistency in the production method.	In case of service retailing, standardization cannot be maintained due to the involvement of human being as service delivery professionals.
Transfer of ownership is possible in case of product retailing. Once the product gets purchased by consumers the ownership of the product is transferred automatically from the retailer to the consumer.	Transfer of ownership is not possible in case of service retailing. Consumers are the end users of service hence the ownership will remain with service provider only.
Products are not perishable and can be stored for future use. In product retailing, production is the first process where a product can be invented before storing it.	Services are perishable and cannot be stored for further use. Production and consumption is a simultaneous process in service retailing. Therefore it’s difficult in this case to balance supply and demand in same time.
In a product retailing, customers or the end users are not necessarily present at the time of a transaction.	Here at service section, customers or end users must be physically present at the time of service delivery transaction.

Applications of Marketing Research. MBA Marketing study material.

Marketing Research plays a significant role where the organization and people associates to each other through the process of data collection and data analysis to identify the scope of the market for product or services. Applications of marketing research is an instinctual interface which provides statistical or graphical practices for market research analysis. It does not only help to identify the target market but focuses on evaluating choices and preferences of potential consumers.

Application of Marketing Research Process:

·         Product Research:

Product research usually conducts to calculating possible acceptance of a new product, upgrade or additions to existing products, making wise decisions on product packaging and determining product acceptability over market competition. Product research mainly focuses on how customers might react to a product.

·         Pricing Research:

Pricing research is dealing with the decisions on pricing strategies of a product according to the cost of production and profit margin for the organization. It helps to determine the acceptability of price of product or services where consumers feel that it is worth to pay for it. It makes you understand the variety of price level as per the competitive market to achieve desired profit.

·         Concept Testing:

Concept testing comprises of assessing new product concept, brand names, advertising concept etc. It basically focuses on the process of generating a new product and its concept behind developing it with pricing concept, ad appeals, and positioning.

·         Positioning Research:

Positioning Research covers all the study of how the existing product or services has been positioned in the competitive marketplace and how to launch and presenting a new product in the potential market. This research helps to define the consumer’s responses or reviews about the product or services so that organization can find out the scope for its positioning.  

·         Advertising Research:

It consists a set of decisions on advertising a product or services, ads developments or advertising campaigns to find out the scope where the organization can apply advertising practices to influence the customers. An organization often conducts a campaign in advertising research to find out whether it is really beneficial to invest in advertising platform for its product and if it's beneficial then this research helps to find out from how many ways the organization can invest to achieve its advertising goals.

·         Market Segmentation:

A market segment is a research process of dividing a market into sub-categories according to the special characteristics. It is normally divided potential consumers into segments by looking at features such as shared needs, common interests or similar lifestyles. This research helps to recognize the high yield segment or profitable segment of the market.

·         Branding Research:

In this type of research, an organization makes an opinion about the product value by reviewing the consumer’s statements on the product. Branding is what are the opinions of people about the product and, what people think about the organization. It assists with the creation, development, and ongoing management and strengthening of brands. Branding research conducts to understand the landscape and develop a launch strategy in the competitive market.

·         Sales Analysis:

Sales Analysis is a research to conduct and analyze the customer records and other available data to identify the sales opportunities in the market. Sales research also analyze whether the sales presentation is effectively moving over the competition in market or not. It helps to record and calculate percentage of sales, stock inventory sales force and other sales related activities.

Applications of marketing research demand the forecasting of the studies in every area such as product, sales, price, advertising etc. which has explained in above process.

Difference between Marketing, Advertising and PR (Public Relationship)

MBA Marketing specialization

Here are the differences in between Marketing, Advertising, and PR (Public Relationship)-

Marketing	Advertising	Public Relationship (PR)
Marketing is the overall process of boosting up public awareness of a product, person, organization or service.	Advertising is a method of influencing a target audience to buy a product.	PR is a process of transfer and maintain positive awareness of the organization.
Engage in taking Organisation’s promotional decisions from target customer, researching the market to setting a marketing budget, product launches and evaluating the success.	Engage in searching target market and influencing them to buy a product through television, radio, print publications, the internet, posters or billboards etc.	Engage in giving information and making news about the organization through writing press releases, contacting media, public forums, taking clippings from print publications, writing in-house magazines and newsletters etc.
Marketing includes the process of Advertising and Public relationship management (PR).	Advertising is a short time campaign of Marketing.	A public relationship is the vital part of Marketing which may fall in advertising campaign nowadays.
An immediate goal is the promotion of organization as well as product or service by taking right decisions.	An immediate goal is to sell the product to target consumers.	an immediate goal is to maintain informatics and positive relations between organization and public
The inherent aim is to make the mission successful towards a vision of the organisation.	The inherent aim is profit.	Inherent aim is to build and fruitage goodwill of organization in public
A measure of success is the decisions taken towards accomplishing a vision of the organization.	A measure of success is the number of sales and/or the revenue it generates.	A measure of success is public reviews and opinion about a company.
Supply of decisions and money.	Supply of product and services.	Supply of information of organization and its products and services.
Focus on Branding of an organization.	Focus on sales.	Focus on organization’s goodwill.