An Investigating the Role of Service Marketing in an Emerging Economy: In Oman’s Perspective
Economic development has been connected with the structural changes in the national economies. On the path of its economic growth, service sector plays a significant task in the financial growth of nations. A comprehensive overview of scope and contribution of various service marketing as well as the potential, various problems, and challenges faced by the service marketing in Oman economy are discussed. In this paper, the secondary data is descriptive in nature, which is collected from various sources like economy survey, Oman market reports, and National Centre of Statistics and Information report (Oman).In Oman, the service sector contributed 43.7% of GDP in 2016 and about 53% GDP in 2017. The segments of services in Oman are: retail and wholesale trade (8% of GDP), defense, public administration (7%) and transport, storage and communication (6.8%). Mining and manufacturing contribute 6% of GD, construction, water and electricity distribution (5%) and agriculture for 1%. Unemployment rate augmented to 16% in 2017 from 15.80% in 2016. The paper studies about the enhancement of quality service marketing and about various challenges faced by service marketing like intangibility, inconsistency, problem of perishability, and inseparability in Oman.A major risk to Oman's dependability is the economic emergency brought about by the drop in government incomes from the sale of oil. Oman government is prescribed to utilize its present oil incomes to build up the other key economic non-oil sectors so as to diminish its reliance on the petroleum sector and to upgrade its dimension of intensity on the world economy. Keywords- Economic development, Structural Changes, Quality Service Marketing, National Economies, GDP, Unemployment.