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Product Service Innovation

Product Service Innovation

Assessment

Flashcard

Business

University

Practice Problem

Hard

Created by

Giulia Vivaldi

FREE Resource

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134 questions

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1.

FLASHCARD QUESTION

Front

What is a service?

Back

An intangible deed or performance that provides solutions to customer needs/problems.

2.

FLASHCARD QUESTION

Front

What are the main differences between services and goods?

Back

1. Tangibility: Goods are tangible; services are intangible. 2. Perishability: Goods are non-perishable; services are perishable. 3. Variability: Goods are standardized; services are variable. 4. Heterogeneity: Goods are homogeneous; services are heterogeneous.

3.

FLASHCARD QUESTION

Front

What is the significance of customer interaction in services?

Back

Customer interaction is crucial for service experiences, as services cannot be physically seen or touched before purchase.

4.

FLASHCARD QUESTION

Front

What are the four characteristics of services according to the IHIP model?

Back

Intangibility, Heterogeneity, Inseparability, Perishability.

5.

FLASHCARD QUESTION

Front

What is servitization in manufacturing?

Back

The integration of add-on services with physical products to add value.

6.

FLASHCARD QUESTION

Front

What role does technology play in modern services?

Back

Technology enhances accessibility, efficiency, and global reach of services.

7.

FLASHCARD QUESTION

Front

What are the challenges of service recovery?

Back

Service recovery involves addressing service failures and restoring customer satisfaction.

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