In this subsection you should discuss three things. First, you should demonstrate your understanding of Product aspect of the marketing mix, and specifically the four characteristics of a service: what can be considered when analysing this aspec...-Go服务器开发

Product aspect of the marketing mix refers to the product or service being offered by a company. In the case of Airwallex, it offers a range of financial products and services such as international payments, foreign exchange, virtual accounts, and multi-currency cards. The four characteristics of a service that can be considered when analysing this aspect are intangibility, perishability, variability and inseparability.

Intangibility refers to the fact that services cannot be seen, touched or felt before purchase. This characteristic creates uncertainty in customers’ minds about the quality of service they will receive. Airwallex addresses this issue by providing detailed information about its products on its website. Customers can see the features and benefits of each product, which helps them understand what they are buying.

Perishability is another characteristic that affects services. Services cannot be stored for later use; they must be consumed immediately after being produced. Airwallex has addressed this issue by offering ²⁴⁄₇ customer support through various channels such as email, chatbot and phone support. This ensures that customers have access to assistance whenever they need it.

Variability is another characteristic of services that refers to the inconsistency in performance due to human involvement. To address this issue, Airwallex has implemented strict quality control measures across all aspects of its business operations. It also invests heavily in employee training to ensure consistent high-quality service delivery.

Inseparability is the final characteristic that refers to the connection between the provider and the consumer during service delivery. Airwallex addresses this issue by building strong relationships with its customers through personalized communication channels such as emails and newsletters.

Airwallex’s marketing strategies directly linked to these service characteristics include creating informative content on their website to alleviate customer uncertainty (intangibility), providing ²⁴⁄₇ customer support (perishability), implementing strict quality control measures (variability) and building strong relationships with customers (inseparability). These strategies have helped Airwallex to build a strong brand reputation and customer loyalty.

Sources:

Kotler, P., & Armstrong, G. (2021). Principles of Marketing (18th ed.). Pearson.

Airwallex. (n.d.). About Us. Retrieved from https://www.airwallex.com/about-us