MAR 4841 exam 1 final questions & answers 2024/2025
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Course
MAR 4841
Institution
MAR 4841
MAR 4841 exam 1 final questions & answers 2024/2025
What percent of GDP comes from services? - ANSWERS80%
What do you look for in a service-based company? - ANSWERSReviews, insurance, website, personal recommendations
more about person providing the service
What do you look for in a p...
strategic use of service to compete (Deregulated and professional)
Four characteristics of services - ANSWERSIntangibility
perishability
, heterogeneity
simultaneous production and consumption
Intangibility - ANSWERSServices can't be seen, touched, tasted, Etc
Four implications of intangibility - ANSWERSCan't be patented
can't be inventoried
can't be readily displayed or communicated
pricing is difficult
heterogeneity - ANSWERSNo two services are the same
product can be the same because production is controlled
services can't be perfectly replicated
Four implications of heterogeneity - ANSWERSImpossible to achieve 100% perfect Quality
Customers Cocreate experience of receiving the service
Quality depends on many uncontrollable factors
no sure knowledge of the service delivered matches what was planned and promised
simultaneous production and consumption - ANSWERSService provider physical connection to service
and customer involvement in production and consumption example: airplane seats
Four implications of simultaneous production and consumption - ANSWERSMass production is difficult
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