The Marketing of Services Essay Example | Topics and Well Written Essays - 2000 words

The Marketing of Services - Essay Example In addition, the economic down turn in the United Kingdom and the rest of the world caused increased levels of uncertainty and unemployment among the potential customers. The impact was a reduction in the consumption of the discretionary services offered by the enterprises in the sector. These changes in consumer behavior have affected several music retailers further aggravating the decline that was being experienced in an already underperforming sector. Prior to the financial crisis, various industry players had been facing financial difficulties due to the shifting interest of consumers from the musical services to computer games. However, things look bright as the sector continues to recover albeit at a slow pace. In the music retail industry, there are several retailers and enterprises covering the entire United Kingdom. They include single stores, independent outlets and chains of retail stores. This gives a wonderful mix of shops dealing in a variety of services. Services like instrument hire, music recording, repair of educational establishments, music teaching and site music facilities are offered in the shops. Some of the major competitors include Asda Group limited, HMV, Woolworth Group Plc, Virgin Books Ltd and Play.com. Others are AA Music, Academy Chimes Music and Ackerman Music Limited. Most of these retailers have been affected by the recent decline in purchases. HVM remains the leading retailer in the United Kingdom. Just like any other service sector, the music retail industry faces a number of problems coming from the nature of services which are offered (Dotchin & Oakland 2004). The five service characteristics are helpful in understanding some of these major problems. Perishability is perhaps one of the most difficult characteristic of the services in this sector to appreciate (Porters 2005). Services are highly perishable compered to physical products. This can be best understood when one considers the kind of services that enterprises such