SERVICE SECTOR

SUBMITTED BY SHAHAL.SM Reg No; 15397085 MBA SEC B DMS

SERVICEA service is any activity or benefit that one party can offer to another which is essentially

intangible and does not result in the ownership of anything. Its production may or

may not be tied to a physical product.

SERVICE MARKETING It is a sub field of marketing These are intangible economic activities It includes marketing of FMCG and

durables It refers to both B2C and B2B Financial services, telecommunication

services, hospitality services, air travel, car rental services etc… are the examples.

SERVICE SECTOR It is the lifeline for the socio economic growth of a

country. It is the tertiary sector of the economy The portion of the economy that produces intangible

goods. Individuals employed in this sector produces services

rather the products. Service sector is an important component of any

country's economy. The service sector is becoming increasingly important in

the economies of developed and developing country.

INDIAN SERVICE SECTORIndia's service sector includes a wide variety of

activities Hotel and restaurants Trade Communication Storage Community Service associated with construction

KEY DRIVERS FOR THE GROWTH OF SERVICE SECTOR

Rapid industrialization Strong growth in export demand Supportive government policies Use of new technologies Government established SEZs Growth of IT parks Availability good good man power

REASONS FOR THE GROWTH OF SERVICE SECTOR

Cultural changes Development of changes Changing role of women Conservation of natural resources Economic affluence Increased consciousness of health care Development of market

GROWTH OF SERVICE SECTOR Indian economy is the second fastest major

growing economy in the world India ranks fifteenth in the service output Indian service sector has increased lot in the last

few years The sector has been experiencing double digit

since 2004-05 The sector has continued to exhibit vibrant

growth The share of service sector in the totally GDP has

increased notably from 49.8% to 54%

STRENGTH Good manpower Highly skilled workforce High and modern technologies Dedicated work force Lower attrition rates

WEAKNESS

Lack of financial suppliers local infrastructure Political opposition The cost of telecom and network

infrastructure is higher in India than USA

OPPURTUNITIES

Development market Provide more security India has the most favored ITES

destination in the world

THREATS

Competition Slowdown of demand Customer indecisiveness

REFERENCES; www.wikipedia.com www.indianbusiness.nic.in http://business.mapsofindia.com/india-g

dp/sectorwise/services-sector-growth-rate.html