162x Filetype PPTX File size 2.98 MB Source: www.himtrtk.com
• Service is an act or performance that one party can offer to another that is essentially intangible and does not result in any ownership of anything. Its production may or may not be tied to physical products.(Philip Kotler) • It is based on relationship and value. • It may be used to market a service or product. Upward trend in disposable Income increasing in the past 20 years: income Disposable Personal Income in India increased to 71640930 INR Million in 2011 from 60158160 INR Million in 2010 Developing country Liberalization Job Opportunities Demand increases with disposable income Increasing Specialization Technology Cost effective Expert and professionals Development of services, financial, banking Changing Development of corporate culture Lifestyle Jogging, gym centre Adapting western culture: foreign brands Increasing Literacy Rate Professionalism in education Information explosion Government Regulations Consumer protection, KYC In recent times the service sector is increasing at a very fast pace. After the liberalization in the year 1991, the contribution of service sector is continuously increasing in the growth of our economy. However, agriculture is still dominating the Indian economy. Service sector are growing not only in volume but also in sophistication and complexity. The growth of service industry is the result of combination of several reasons, they are, The Services Sector contributes the most to the Indian GDP. The Sector of Services in India has the biggest share in the country's GDP, it accounts for more than 50% contribution The various sectors under the Services Sector in India are construction, trade, hotels, transport, restaurant, communication and storage, social and personal services, community, insurance, financing, business services, and real estate.
no reviews yet
Please Login to review.