The topic of the conference was: “Services in Emerging Market” or ‘Growth Market ‘as the industry people called it.
The basic characteristics of emerging economies are as follows:
1.Economic Liberalization
2.Low /Middle income country
3.Tech led innovation hotspot
4.Entrepreneur business environment
Nowadays, the world economics is converting from a product based towards a service oriented conception. Business processes are becoming complex in multi layers. So many solutions can be indentified in the market for each problem. Now who will win the market when so many providers are available….of course the one who is better service provider along with the product or solution. (In real meaning, Solution is the combination of Product and Service)
What the customer wants has become more important rather than what you provide them. Kotler’s theory also says don’t push your product; make/design your product as customer wants. The process should be in reverse from Customer to your Production house not from your production house to customer.
As such Service Productivity, Service Quality and Service Innovation exist with the product but now the market demands them to be more integrated.
Now if we talk about the role of Technology then we have to change in the pyramid mode of Service Marketing. Earlier there were 3 corners i.e. Company, Customer and Employee while now we should add Technology (IT) in it because Technology has become integrated part of system.
Source: lecture/presentation given by:
Prof A Parasuraman,university of Miami
Prof N Viswanadham, ISB
FC Kohli, GM,TCS
Guruduth Banavar,VP & CTO,IBM
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