Font size
WorksheetsModule 1 - Creating Value in the Service Economy
Total questions: 132
Worksheet time: 43mins
Services dominate
(a)
Services is growing
(a)
Services account for more than ____% of GDP worldwide
30%
90%
60%
120%
Most _______ is provided by services.
new work
new job
new employment
new offer
Services is the strongest growth area for (a)
UNDERSTANDING SERVICES OFFERS you a (a)
GDP in year 2021 is (a)
GDP in year 2022 is (a)
FASTEST GROWTH expected in (a)
Significant TRAINING and EDUCATIONAL QUALIFICATIONS is required, but employees will be more (a) -
SOME service jobs CAN BE EXPORTED.
True
False
Powerful FORCES are transforming SERVICE MARKETS
(a)
Forces that RESHAPE —
(a)
Transformation of the Service Economy
(a)
Transformation of the Service Economy: New ____ and _________
(a)
Transformation of the Service Economy: More intense (a)
Transformation of the Service Economy: Innovation in ____________ and _______________, stimulated by better technology
(a)
Transformation of the Service Economy: Customers have more ________ and exercise more ___________
(a)
Using a ______ service means there is DIRECT CONTACT between customers and the firm throughout the entire service delivery.
High-Contact
Low-Contact
CUSTOMERS ARE usually EXPOSED TO MANY PHYSICAL CLUES about the organization. (Exterior/Interior of Buildings, Equipment/Furnishings, Appearance/Behavior of SP)
High-Contact
Low-Contact
_________ services INVOLVE LITTLE PHYSICAL CONTACT, if any, between customers and service providers.
High-Contact
Low-Contact
CONTACT TAKES PLACE at arm’s length THROUGH ELECTRONIC or PHYSICAL DISTRIBUTION channels.
High-Contact
Low-Contact
Services are being TRANSFORMED INTO ___________ SERVICES USING (C, AI, SR)
High-Contact
Low-Contact
Transformation of the Service Economy: Understanding __________ and ___________
(a)
CHALLENGE IS TO MAKE THE I as intuitive, easy, and convenient as possible while signaling high-quality service.
(a)
Transformation of the Service Economy: Viable (a)
Transformation of the Service Economy: Creation of value for _______ and _______
(a)
Services are different from goods because they are (a)
SERVICES are different from goods because they are PERISHABLE.
Smith (1778)
Smith (1776)
Smith (1779)
Smith (1775)
As SERVICES are (a) , consumption CANNOT BE SEPARATED FROM PRODUCTION
As SERVICES are IMMATERIAL, consumption CANNOT BE SEPARATED FROM PRODUCTION.
Say (1805)
Say (1806)
Say (1803)
Say (1809)
SERVICES cover a huge variety of __________ and often very _____________ ACTIVITIES, making them difficult to define.
(a)
The word SERVICE was originally associated with the WORK THAT (a) DID FOR THEIR MASTERS.
Dictionary Definition: Service is the action of —
(a)
Early marketing definitions of SERVICES contrasted them against goods and described services as —
(a)
Services had different characteristics from GOODS —
(a)
Payment made for USING or ACCESSING something usually FOR A DEFINED PERIOD OF TIME –instead of buying it outright and
Rental of services
Rental of items
Rental of goods
Rental of labor
Rental of Goods: ALLOWS (a) that individuals and organizations could not afford.
FIVE broad categories within NON-OWNERSHIP FRAMEWORK of which two or more may be combined
(a)
Services are
Economic Duties
Economic Demands
Economic Activities
Economic Responsibilities
Services is performed by (a)
Services is
time-constraint
time-restricted
time-based
time-allowance
Services bring about desired results to —
(a)
Often time-based, these performances bring about desired results to recipients, objects, or other assets. IN EXCHANGE FOR:
(a)
Service customers EXPECT VALUE from ACCESS to —
(a)
FOUR broad CATEGORIES of SERVICES
(a)
Services EMPHASIZES (a) through RENTAL and ACCESS
Services EMPHASIZES (a) that can be brought about to recipients of the service, objects and other assets.
Services can "PROCESS" —
(a)
The NATURE of PROCESSINGS can be ___________, and ______________.
(a)
(a) actions are performed on people's BODIES and PHYSICAL POSSESSIONS.
(a) actions are performed on people's MINDS or to their INTANGIBLE ASSETS.
A type of processing where people have sought out SERVICES DIRECTED AT THEMSELVES,
Possession
People
Mental Stimulus
Information
A type of processing where CUSTOMERS must PHYSICALLY ENTER THE SERVICE SYSTEM.
Possession
People
Mental Stimulus
Information
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.
Possession
People
Mental Stimulus
Information
A type of processing where there's a physical location where people or machines (or both) create and deliver service benefits to customers.
Possession
People
Mental Stimulus
Information
A type of processing where ACTIVE COOPERATION of the customer is needed in the SERVICE DELIVERY PROCESS.
Possession
People
Mental Stimulus
Information
A type of processing where customers ask a service organization to PROVIDE TANGIBLE TREATMENT for __________.
Possession
People
Mental Stimulus
Information
A type of processing where PRODUCTION and CONSUMPTION are NOT necessarily SIMULTANEOUS.
Possession
People
Mental Stimulus
Information
A type of processing where CUSTOMERS tend to be LESS INVOLVED in these services.
Possession
People
Mental Stimulus
Information
A type of processing where it may be limited to just dropping off or collecting items.
Possession
People
Mental Stimulus
Information
A type of processing where it may be production and consumption CAN BE SEPARABLE.
Possession
People
Mental Stimulus
Information
A type of processing where customers might be MANIPULATED
Possession
People
Mental Stimulus
Information
A type of processing where PHYSICAL PRESENCE of recipients is NOT REQUIRED
Possession
People
Mental Stimulus
Information
A type of processing where core CONTENT OF SERVICES is INFORMATION-BASED
Possession
People
Mental Stimulus
Information
A type of processing where it can be 'INVENTORIED'
Possession
People
Mental Stimulus
Information
People Processing: Service providers are —
willing to come to customers
bring desired results
create desired benefits at customer's preferred location
bring necessary tools of their trade
People Processing: Service PRODUCTION and CONSUMPTION are/where
simultaneous
bring desired results
customers must be present in the physical location
demand and capacity management is needed
People Processing: Managers need to THINK CAREFULLY about
(a)
People Processing Implication: Physical Location requires —
(a)
People Processing Implication: NON-FINANCIAL costs need to be taken into account such as:
(a)
Services TEND TO HAVE DIFFERENT (a) from goods
Can the marketing CONCEPTS and PRACTICES developed in manufacturing companies be DIRECTLY TRANSFERRED to SERVICE ORGANIZATIONS where NO transfer of OWNERSHIP takes place?
Yes
No
FOUR characteristics of SERVICES
(a)
When developing strategies to (a) , marketers usually address four basic strategic elements: Product, Price, Place, Promotion
Traditional marketing mix does not cover the customer interface.
Yes
No
What are the 7Ps?
(a)
The 7Ps/Strategic Levers of Services Marketing used to: (a) strategies
The 7Ps/Strategic Levers of Services Marketing used to: ____________ profitably in ______________
(a)
LIE AT THE HEART of a firm's MARKETING STRATEGY
Product
Place
Price
Promotion
If a _________ is poorly designed, it won't create meaningful value for customers, even if the rest of the 7 Ps are well executed.
Product
Place
Price
Promotion
PLANNING the marketing mix BEGINS WITH creating a service _________ that will offer value to target customers and satisfy their needs better than competing alternatives.
Product
Place
Price
Promotion
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.
Product
Place
Price
Promotion
Service DISTRIBUTION may take place THROUGH PHYSICAL or ELECTRONIC channels (or both), depending on the nature of the service.
Product
Place
Price
Promotion
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.
Product
Place
Price
Promotion
Companies need to decide WHERE and WHEN these services are delivered, as well as the METHODS and CHANNELS used.
Product
Place
Price
Promotion
Allowing a VALUE EXCHANGE to take place.
Product
Place
Price
Promotion
AFFECTS how much INCOME is generated
Product
Place
Price
Promotion
This strategy is HIGHLY DYNAMIC.
Product
Place
Price
Promotion
__________ LEVELS ADJUSTED OVER TIME according to factors like: CS, T&P, LOD, AC
Product
Place
Price
Promotion
KEY PART of the COSTS.
Product
Place
Price
Promotion
Must INCUR to OBTAIN DESIRED BENEFITS.
Product
Place
Price
Promotion
Understand and seek to MINIMIZE, where possible - other BURDENSOME outlays that customers incur in using the service.
Product
Place
Price
Promotion
Must INCUR to OBTAIN DESIRED BENEFITS.
Product
Place
Price
Promotion
Providing needed INFORMATION and ADVICE.
Product
Place
Price
Promotion
PERSUADING target customers TO BUY the service product.
Product
Place
Price
Promotion
ENCOURAGING them TO TAKE ACTION at specific times.
Product
Place
Price
Promotion
Suppliers need to TEACH their customers ABOUT the BENEFITS of the service.
Product
Place
Price
Promotion
Suppliers need to TEACH their customers ABOUT the WHERE and WHEN to obtain it.
Product
Place
Price
Promotion
Suppliers need to TEACH their customers ABOUT HOW TO PARTICIPATE in service processes to get the best results.
Product
Place
Price
Promotion
Create CONFIDENCE IN THE FIRM'S EXPERIENCE, CREDENTIALS, EXPERTISE of its employees.
Product
Place
Price
Promotion
Services are often difficult to VISUALIZE and UNDERSTAND as INTANGIBLE elements tend to DOMINATE (a) .
These outlays may include additional monetary costs such as:
(a)
Supplementary Service elements include —
(a)
Intangibility can consist of both ___________and __________ dimensions.
emotional
mental
physical
verbal
FIRMS can use _____________ and ______________to PROMOTE service BENEFITS and DEMONSTRATE the firm's COMPETENCIES.
(a)
The role of well-trained service employees in communications is crucial in reducing the perceived risk of purchase by helping prospective customers to:
(a)
PRICE LEVELS ADJUSTED OVER TIME according to factors like
(a)
_____________ 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.
Mental Intangibility
Physical Intangibility
____________________ is that which CANNOT BE TOUCHED or EXPERIENCED by the other senses.
Mental Intangibility
Physical Intangibility
Intangible Elements such as — (P, I-BT, E/AoSP)
(a)
HOW a firm does things is as important as WHAT IT DOES.
Process
Physical Environment
People
Creating and delivering product elements requires DESIGN and IMPLEMENTATION of effective ___________.
Process
Physical Environment
People
POOR SERVICE ____________ DESIGN also makes it difficult for frontline employees to do their jobs well, resulting in low productivity and employee dissatisfaction.
Process
Physical Environment
People
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.
Process
Physical Environment
People
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.
Process
Physical Environment
People
The __________ also facilitates SERVICE DELIVERY and GUIDES customers THROUGH the SERVICE PROCESS.
Process
Physical Environment
People
Many services will always need DIRECT INTERACTION BETWEEN CUSTOMERS and SERVICE EMPLOYEES.
Process
Physical Environment
People
Services lies in the ATTITUDE and SKILLS of their employees.
Process
Physical Environment
People
Service firms NEED TO WORK CLOSELY WITH THEIR HUMAN RESOURCES DEPARTMENTS and DEVOTE SPECIAL CARE in SELECTING, TRAINING, MOTIVATING their service employees.
Process
Physical Environment
People
These individuals also need GOOD INTERPERSONAL SKILLS and a POSITIVE ATTITUDE.
Process
Physical Environment
People
HR managers who think strategically recognize that having LOYAL, SKILLED, MOTIVATED employees
who can work well independently or together in teams represent a (a) .
Badly designed service processes lead to
(a)
Operational INPUTS and OUTPUTS tend to (a) for services
Operational INPUTS and OUTPUTS can make (a) process management a CHALLENGE.
When a service is delivered face- to-face and consumed as it is produced, (a) must take place in real time.
Operations are often (a) of sites or branches.
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)
CUSTOMERS ARE Often INVOLVED in (a)
customer's INVOLVEMENT takes the form of (a)
Self-service technologies:
(a)
(a) are needed to facilitate SERVICE DELIVERY.
