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Module 1 - Creating Value in the Service Economy

Total questions: 132

Worksheet time: 43mins

Name
Class
Date
1.

Services dominate

(a)  

2.

Services is growing

(a)  

3.

Services account for more than ____% of GDP worldwide

a)

30%

b)

90%

c)

60%

d)

120%

4.

Most _______ is provided by services.

a)

new work

b)

new job

c)

new employment

d)

new offer

5.

Services is the strongest growth area for (a)  

6.

UNDERSTANDING SERVICES OFFERS you a (a)  

7.

GDP in year 2021 is (a)  

8.

GDP in year 2022 is (a)  

9.

FASTEST GROWTH expected in (a)  

10.

Significant TRAINING and EDUCATIONAL QUALIFICATIONS is required, but employees will be more (a)   -

11.

SOME service jobs CAN BE EXPORTED.

a)

True

b)

False

12.

Powerful FORCES are transforming SERVICE MARKETS

(a)  

13.

Forces that RESHAPE —

(a)  

14.

Transformation of the Service Economy

(a)  

15.

Transformation of the Service Economy: New ____ and _________

(a)  

16.

Transformation of the Service Economy: More intense (a)  

17.

Transformation of the Service Economy: Innovation in ____________ and _______________, stimulated by better technology

(a)  

18.

Transformation of the Service Economy: Customers have more ________ and exercise more ___________

(a)  

19.

Using  a  ______ service means there is DIRECT CONTACT between customers and the firm throughout the entire service delivery.

a)

High-Contact

b)

Low-Contact

20.

CUSTOMERS ARE usually EXPOSED TO MANY PHYSICAL CLUES about the organization. (Exterior/Interior of Buildings, Equipment/Furnishings, Appearance/Behavior of SP)

a)

High-Contact

b)

Low-Contact

21.

_________ services INVOLVE LITTLE PHYSICAL CONTACT, if any, between customers and service providers.

a)

High-Contact

b)

Low-Contact

22.

CONTACT TAKES PLACE at arm’s length THROUGH ELECTRONIC or PHYSICAL DISTRIBUTION channels.

a)

High-Contact

b)

Low-Contact

23.

 Services are being TRANSFORMED INTO ___________ SERVICES USING (C, AI, SR)

a)

High-Contact

b)

Low-Contact

24.

Transformation of the Service Economy: Understanding __________ and ___________

(a)  

25.

CHALLENGE IS TO MAKE THE I as intuitive, easy, and convenient as possible while signaling high-quality service.

(a)  

26.

Transformation of the Service Economy: Viable (a)  

27.

Transformation of the Service Economy: Creation of value for _______ and _______

(a)  

28.

Services are different from goods because they are (a)  

29.

SERVICES are different from goods because they are PERISHABLE.

a)

Smith (1778)

b)

Smith (1776)

c)

Smith (1779)

d)

Smith (1775)

30.

As SERVICES are (a)   , consumption CANNOT BE SEPARATED FROM PRODUCTION

31.

As SERVICES are IMMATERIAL, consumption CANNOT BE SEPARATED FROM PRODUCTION.

a)

Say (1805)

b)

Say (1806)

c)

Say (1803)

d)

Say (1809)

32.

SERVICES cover a huge variety of __________ and often very _____________ ACTIVITIES, making them difficult to define.

(a)  

33.

The word SERVICE was originally associated with the WORK THAT (a)   DID FOR THEIR MASTERS.

34.

Dictionary Definition: Service is the action of —

(a)  

35.

Early marketing definitions of SERVICES contrasted them against goods and described services as —

(a)  

36.

Services had different characteristics from GOODS —

(a)  

37.

Payment made for USING or ACCESSING something usually FOR A DEFINED PERIOD OF TIME –instead of buying it outright and

a)

Rental of services

b)

Rental of items

c)

Rental of goods

d)

Rental of labor

38.

Rental of Goods: ALLOWS (a)   that individuals and organizations could not afford.

39.

 

FIVE broad categories within NON-OWNERSHIP FRAMEWORK of which two or more may be combined

(a)  

40.

Services are

a)

Economic Duties

b)

Economic Demands

c)

Economic Activities

d)

Economic Responsibilities

41.

Services is performed by (a)  

42.

Services is

a)

time-constraint

b)

time-restricted

c)

time-based

d)

time-allowance

43.

Services bring about desired results to —



(a)  

44.

Often time-based, these performances bring about desired results to recipients, objects, or other assets. IN EXCHANGE FOR:

(a)  

45.

Service customers EXPECT VALUE from ACCESS to —

(a)  

46.

FOUR broad CATEGORIES of SERVICES

(a)  

47.

Services EMPHASIZES (a)   through RENTAL and ACCESS

48.

Services EMPHASIZES (a)   that can be brought about to recipients of the service, objects and other assets.

49.

Services can "PROCESS" —

(a)  

50.

The NATURE of PROCESSINGS can be ___________, and ______________.

(a)  

51.

(a)   actions are performed on people's BODIES and PHYSICAL POSSESSIONS.

52.

(a)   actions are performed on people's MINDS or to their INTANGIBLE ASSETS.

53.

A type of processing where  people have sought out SERVICES DIRECTED AT THEMSELVES,

a)

Possession

b)

People

c)

Mental Stimulus

d)

Information

54.

A type of processing where CUSTOMERS must PHYSICALLY ENTER THE SERVICE SYSTEM.

a)

Possession

b)

People

c)

Mental Stimulus

d)

Information

55.

A type of processing where CUSTOMERS are integral part of the process and cannot obtain the desired benefits by dealing at arm's length with service suppliers.

a)

Possession

b)

People

c)

Mental Stimulus

d)

Information

56.

A type of processing where there's a physical location where people or machines (or both) create and deliver service benefits to customers.

a)

Possession

b)

People

c)

Mental Stimulus

d)

Information

57.

A type of processing where ACTIVE COOPERATION of the customer is needed in the SERVICE DELIVERY PROCESS.

a)

Possession

b)

People

c)

Mental Stimulus

d)

Information

58.

A type of processing where customers ask a service organization to PROVIDE TANGIBLE TREATMENT for __________.

a)

Possession

b)

People

c)

Mental Stimulus

d)

Information

59.

A type of processing where PRODUCTION and CONSUMPTION are NOT necessarily SIMULTANEOUS.

a)

Possession

b)

People

c)

Mental Stimulus

d)

Information

60.

A type of processing where CUSTOMERS tend to be LESS INVOLVED in these services.

a)

Possession

b)

People

c)

Mental Stimulus

d)

Information

61.

A type of processing where it may be limited to just dropping off or collecting items.

a)

Possession

b)

People

c)

Mental Stimulus

d)

Information

62.

A type of processing where it may be  production and consumption CAN BE SEPARABLE.

a)

Possession

b)

People

c)

Mental Stimulus

d)

Information

63.

A type of processing where customers might be MANIPULATED

a)

Possession

b)

People

c)

Mental Stimulus

d)

Information

64.

A type of processing where PHYSICAL PRESENCE of recipients is NOT REQUIRED

a)

Possession

b)

People

c)

Mental Stimulus

d)

Information

65.

A type of processing where core CONTENT OF SERVICES is INFORMATION-BASED

a)

Possession

b)

People

c)

Mental Stimulus

d)

Information

66.

A type of processing where it can be 'INVENTORIED'

a)

Possession

b)

People

c)

Mental Stimulus

d)

Information

67.

People Processing: Service providers are —

a)

willing to come to customers

b)

bring desired results

c)

create desired benefits at customer's preferred location

d)

bring necessary tools of their trade

68.

People Processing: Service PRODUCTION and CONSUMPTION are/where

a)

simultaneous

b)

bring desired results

c)

customers must be present in the physical location

d)
  • demand and capacity management is needed

69.

People Processing: Managers need to THINK CAREFULLY about

(a)  

70.

People Processing Implication: Physical Location requires —

(a)  

71.

People Processing Implication: NON-FINANCIAL costs need to be taken into account such as:

(a)  

72.

Services TEND TO HAVE DIFFERENT (a)   from goods

73.

Can the marketing CONCEPTS and PRACTICES developed in manufacturing companies be DIRECTLY TRANSFERRED to SERVICE ORGANIZATIONS where NO transfer of OWNERSHIP takes place?

a)

Yes

b)

No

74.

 FOUR characteristics of SERVICES

(a)  

75.

When developing strategies to (a)   , marketers usually address four basic strategic elements: Product, Price, Place, Promotion

76.

Traditional marketing mix does not cover the customer interface.

a)

Yes

b)

No

77.

What are the 7Ps?



(a)  

78.

The 7Ps/Strategic Levers of Services Marketing used to: (a)   strategies

79.

The 7Ps/Strategic Levers of Services Marketing used to: ____________ profitably in ______________

(a)  

80.

LIE AT THE HEART of a firm's MARKETING STRATEGY

a)

Product

b)

Place

c)

Price

d)

Promotion

81.

If a _________ is poorly designed, it won't create meaningful value for customers, even if the rest of the 7 Ps are well executed.

a)

Product

b)

Place

c)

Price

d)

Promotion

82.

PLANNING the marketing mix BEGINS WITH creating a service _________ that will offer value to target customers and satisfy their needs better than competing alternatives.

a)

Product

b)

Place

c)

Price

d)

Promotion

83.

CORE ___________ that meets the customers' primary needs and a variety of supplementary service elements that are MUTUALLY REINFORCING, and ADD VALUE to help customers use the core product more effectively.

a)

Product

b)

Place

c)

Price

d)

Promotion

84.

Service DISTRIBUTION may take place THROUGH PHYSICAL or ELECTRONIC channels (or both), depending on the nature of the service.

a)

Product

b)

Place

c)

Price

d)

Promotion

85.

Firms may also deliver their services DIRECTLY TO END-USERS or through INTERMEDIARY ORGANIZATIONS such as retail outlets that receive a fee or commission to perform certain tasks associated with sales, service, and customer contact.

a)

Product

b)

Place

c)

Price

d)

Promotion

86.

 Companies need to decide WHERE and WHEN these services are delivered, as well as the METHODS and CHANNELS used.

a)

Product

b)

Place

c)

Price

d)

Promotion

87.

 Allowing a VALUE EXCHANGE to take place.

a)

Product

b)

Place

c)

Price

d)

Promotion

88.

AFFECTS how much INCOME is generated

a)

Product

b)

Place

c)

Price

d)

Promotion

89.

This strategy is HIGHLY DYNAMIC.

a)

Product

b)

Place

c)

Price

d)

Promotion

90.

__________ LEVELS ADJUSTED OVER TIME according to factors like: CS, T&P, LOD, AC

a)

Product

b)

Place

c)

Price

d)

Promotion

91.

KEY PART of the COSTS.

a)

Product

b)

Place

c)

Price

d)

Promotion

92.

Must INCUR to OBTAIN DESIRED BENEFITS.

a)

Product

b)

Place

c)

Price

d)

Promotion

93.

Understand and seek to MINIMIZE, where possible - other BURDENSOME outlays that customers incur in using the service.

a)

Product

b)

Place

c)

Price

d)

Promotion

94.

Must INCUR to OBTAIN DESIRED BENEFITS.

a)

Product

b)

Place

c)

Price

d)

Promotion

95.

Providing needed INFORMATION and ADVICE.

a)

Product

b)

Place

c)

Price

d)

Promotion

96.

PERSUADING target customers TO BUY the service product.

a)

Product

b)

Place

c)

Price

d)

Promotion

97.

ENCOURAGING them TO TAKE ACTION at specific times.

a)

Product

b)

Place

c)

Price

d)

Promotion

98.

Suppliers need to TEACH their customers ABOUT the BENEFITS of the service.

a)

Product

b)

Place

c)

Price

d)

Promotion

99.

Suppliers need to TEACH their customers ABOUT the WHERE and WHEN to obtain it.

a)

Product

b)

Place

c)

Price

d)

Promotion

100.

Suppliers need to TEACH their customers ABOUT HOW TO PARTICIPATE in service processes to get the best results.

a)

Product

b)

Place

c)

Price

d)

Promotion

101.

 Create CONFIDENCE IN THE FIRM'S EXPERIENCE, CREDENTIALS, EXPERTISE of its employees.

a)

Product

b)

Place

c)

Price

d)

Promotion

102.

Services are often difficult to VISUALIZE and UNDERSTAND as INTANGIBLE elements tend to DOMINATE (a)   .

103.

  • These outlays may include additional monetary costs such as:



(a)  

104.

Supplementary Service elements include —

(a)  

105.

Intangibility can consist of both ___________and __________ dimensions.

a)

emotional

b)

mental

c)

physical

d)

verbal

106.

FIRMS can use _____________ and ______________to PROMOTE service BENEFITS and DEMONSTRATE the firm's COMPETENCIES.

(a)  

107.

The role of well-trained service employees in communications is crucial in reducing the perceived risk of purchase by helping prospective customers to:

(a)  

108.

PRICE LEVELS ADJUSTED OVER TIME according to factors like

(a)  

109.

_____________ means that it is DIFFICULT for customers TO VISUALIZE THE EXPERIENCE in advance of purchase and to understand the value and benefits they will be getting.

a)

Mental Intangibility

b)

Physical Intangibility

110.

____________________ is that which CANNOT BE TOUCHED or EXPERIENCED by the other senses.

a)

Mental Intangibility

b)

Physical Intangibility

111.

Intangible Elements such as — (P, I-BT, E/AoSP)

(a)  

112.

HOW a firm does things is as important as WHAT IT DOES.

a)

Process

b)

Physical Environment

c)

People

113.

Creating and delivering product elements requires DESIGN and IMPLEMENTATION of effective ___________.

a)

Process

b)

Physical Environment

c)

People

114.
  • POOR SERVICE ____________ DESIGN also makes it difficult for frontline employees to do their jobs well, resulting in low productivity and employee dissatisfaction.

 

a)

Process

b)

Physical Environment

c)

People

115.
  • In a service business that requires customers to enter the service factory, you'll also HAVE TO SPEND TIME THINKING ABOUT THE DESIGN OF THE _______ or SERVICES CAPE.

a)

Process

b)

Physical Environment

c)

People

116.
  • The appearance of buildings, landscaping, vehicles, interior furnishings, equipment, staff members' uniforms, signs, materials, other visible cues provide tangible evidence of a firm's service quality.

a)

Process

b)

Physical Environment

c)

People

117.
  • The __________ also facilitates SERVICE DELIVERY and GUIDES customers THROUGH the SERVICE PROCESS.

a)

Process

b)

Physical Environment

c)

People

118.
  • Many services will always need DIRECT INTERACTION BETWEEN CUSTOMERS and SERVICE EMPLOYEES.

a)

Process

b)

Physical Environment

c)

People

119.
  • Services lies in the ATTITUDE and SKILLS of their employees.

a)

Process

b)

Physical Environment

c)

People

120.
  • Service firms NEED TO WORK CLOSELY WITH THEIR HUMAN RESOURCES DEPARTMENTS and DEVOTE SPECIAL CARE in SELECTING, TRAINING, MOTIVATING their service employees.

a)

Process

b)

Physical Environment

c)

People

121.
  • These individuals also need GOOD INTERPERSONAL SKILLS and a POSITIVE ATTITUDE.

a)

Process

b)

Physical Environment

c)

People

122.

  • HR managers who think strategically recognize that having LOYAL, SKILLED, MOTIVATED employees

    • who can work well independently or together in teams represent a (a)   .

123.

Badly designed service processes lead to

(a)  

124.

Operational INPUTS and OUTPUTS tend to (a)   for services

125.

Operational INPUTS and OUTPUTS can make (a)   process management a CHALLENGE.

126.

  • When a service is delivered face- to-face and consumed as it is produced, (a)   must take place in real time.

127.

 Operations are often (a)   of sites or branches.

128.

When OPERATIONS ARE DISTRIBUTED rather than centralized in a factory, it is difficult for service organizations to ensure — RD, CQ, IP, MoSQ, TEMC, ATPPBH

(a)  

129.

  • CUSTOMERS ARE Often INVOLVED in (a)  

130.

customer's INVOLVEMENT takes the form of (a)  

131.

Self-service technologies:

(a)  

132.

(a)   are needed to facilitate SERVICE DELIVERY.