About this course: As the fastest-growing sectors of the current global economy, both hospitality and healthcare services sector offer tremendous growth opportunities for incumbents and entrepreneurial opportunities for new entrants. To flourish on these opportunities, one must first understand each industry's unique characteristics. This course is designed to help those who are interested in career advancement opportunities in these industries or who want to be inspired by these industries to better equip themselves with enlightened and creative management capabilities. People who have successfully completed this course will be able to: (1) Identify the unique characteristics of service businesses and create successful management strategies to better manage the role of customers to gain desirable business outcomes, better market products than are intangible, and better manage customer expectations and perceptions. (2) Identify the unique characteristics of the hospitality industry, explain the process of balancing supply and demand in the hospitality industry, and implement optimal marketing and management strategies for this unique market. (3) Identify the unique characteristics of the healthcare industry, explain how this industry is evolving into the experience business, and better manage human interactions and facility to enhance the quality of customer experience. (4) Gain insights from the innovative approaches in the service industry overall, in hospitality and health industry in particular, and better develop innovative strategies in your industry.
Created by: Yonsei University
Taught by: Sunmee Choi, Professor of Service Management
School of Business
| Basic Info | Course 4 of 6 in the International Marketing & Cross Industry Growth Specialization |
| Commitment | 3 weeks of study, 1-2 hours/week |
| Language | English, Subtitles: Spanish, Korean, Chinese (Simplified) |
| How To Pass | Pass all graded assignments to complete the course. |
| User Ratings |
Syllabus
WEEK 1
What is unique about managing a service business?
Service businesses have unique aspects that create both opportunities and challenges in successfully managing them. Explaining what they are and how they have been addressed are a key to successfully marketing a service business. In this module, learners will be introduced to those unique characteristics of service businesses. People who have successfully completed this module will (1) Classify the unique characteristics of service businesses and realize why service businesses require special management approaches and capabilities, (2) Demonstrate the ability to better manage the role of customers to gain desirable business outcomes, (3) Develop capabilities to better market products than are intangible, and (4) Improve customer expectations and perceptions.
7 videos, 1 practice quiz
- Video: 1.1. Harnessing Cross Country & Cross Industry Innovation Skills
- Video: 1.2. Introduction to service businesse
- Video: 1.3. Unique characteristics of service businesses: 01. Customer participation
- Video: 1.4. Unique characteristics of service businesses: 02. Simultaneity
- Video: 1.5. Unique characteristics of service businesses: 03. Perishability
- Video: 1.6. Unique characteristics of service businesses: 04. Intangibility
- Video: 1.7. Unique characteristics of service businesses: 05. Heterogeneity
- Practice Quiz: Practice Quiz for Lesson 1 'What is unique about managing a service business?'
- Discussion Prompt: Discussion about Unique Marketing Approach
Graded: Graded Quiz for Lesson 1 'What is unique about managing a service business?'
WEEK 2
How to successfully market a hospitality business?
Diverse businesses in the hospitality industry share some common characteristics. Unique marketing approaches have been developed to leverage these characteristics. In this module, learners will be introduced to one of those approaches called 'Variable Pricing.' People who have successfully completed this module will (1) Explain the unique characteristics of the hospitality industry, particularly in balancing supply and demand and (2) Demonstrate the ability to manage demand and pricing in order to better balance supply and demand and as a result maximize revenue from the hospitality industry.
5 videos, 1 reading, 1 practice quiz
- Video: 2.1. Introduction to the hospitality industry
- Video: 2.2. Common characteristics among the hospitality businesses
- Video: 2.3. Unique marketing approaches in the hospitality industry : Variable pricing
- Video: 2.4. Challenges in moving from fixed pricing to variable pricing
- Video: 2.5. Variable pricing strategies: Premium pricing & target discounting
- Reading: Revenue Management
- Practice Quiz: Practice Quiz for Lesson 2 'How to successfully market a hospitality business?'
- Discussion Prompt: Discussion about Take-away
Graded: Graded Quiz Lesson 2 'How to successfully market a hospitality business?'
WEEK 3
How to successfully market a healthcare business?
The healthcare industry is fast growing and rapidly evolving at the same time. So is its marketing approach. In this module, learners will be introduced to the recently emerging healthcare marketing concept of "Patient Experience Management" and will a few cases of successful patient experience management. People who have successfully completed this module will (1) Explain the unique characteristics of the healthcare industry and how this industry is evolving into the experience business, (2) Develop capabilities to better manage human interactions and facility to enhance the quality of customer experience, and (3) Gain insights on service innovation from specific healthcare innovation cases.
9 videos, 1 practice quiz
- Video: 3.1. Healthcare service industry & its unique marketing approaches
- Video: 3.2. Evolvement of healthcare management focus
- Video: 3.3. Examples of successful patient experience management: Shouldice Hospital
- Video: 3.4. Key elements of design in experience management: Interaction
- Video: 3.5. Examples of successful patient experience management: Kameda Medical Center
- Video: 3.6. Key elements of design in experience management: Facility
- Video: 3.7. Healthcare innovation
- Video: 3.8. Review: Healthcare service industry & its unique marketing approaches
- Video: 3.9. Expert Interview with Severance Hospital
- Practice Quiz: Practice Quiz Lesson 3 'How to successfully market a healthcare business?'
- Discussion Prompt: Discussion on Your Mind
Graded: Graded Quiz Lesson 3 'How to successfully market a healthcare business?'
FAQs
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Coursework
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Creators
Yonsei University
Yonsei University was established in 1885 and is the oldest private university in Korea.
Yonsei’s main campus is situated minutes away from the economic, political, and cultural centers of Seoul’s metropolitan downtown. Yonsei has 3,500 eminent faculty members who are conducting cutting-edge research across all academic disciplines. There are 18 graduate schools, 22 colleges and 133 subsidiary institutions hosting a selective pool of students from around the world.
Yonsei is proud of its history and reputation as a leading institution of higher education and research in Asia.
Pricing
| Audit | Purchase Course | |
|---|---|---|
| Access to course materials | Available | Available |
| Access to graded materials | Not available | Available |
| Receive a final grade | Not available | Available |
| Earn a shareable Course Certificate | Not available | Available |
Ratings and Reviews
This is a very useful and interesting course. It helps me a lot in building my knowledge on the hospitality industry which is matter to me on the way I start new career. Thank Mrs.Choi, my intructor in this course, I like the way she gave lecture and explained things so well.
Top course , simple and effective .
Thank you! It is useful
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Very Good Course. I enjoy it.