Booms and Bitner Suggest Three Additional Elements in Marketing Strategy

question 26

Essay

Booms and Bitner suggest three additional elements in marketing strategy for services.Discuss the three elements as they apply to a bank or a university.

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Definitions:

Privity of Contract

A doctrine in contract law that restricts the rights or duties under a contract to the parties that agreed to it.

Property Tax

A levy on property that the owner is required to pay based on the value of the property.

Lessee

A person or entity that holds the lease of a property; essentially, a tenant who has the right to use property owned by another according to the terms of a lease agreement.

Privity of Contract

A principle stating that contracts cannot bestow rights or impose obligations on anyone who is not a party to the contract.