MARK 3000 Grantham final Exam Guide Questions with Correct Answers 2024
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Module
MRKT 3000
Institution
MRKT 3000
T/F Services can often be separated from the producer - False
T/F People are now demanding more specialized products and services - True
The service product continuum - Ranges from service dominant (a laawyer) to product dominant (grocery store)
Factors differentiating services from produc...
MARK 3000 Grantham final Exam Guide
Questions with Correct Answers 2024
T/F Services can often be separated from the producer - False
T/F People are now demanding more specialized products and services - True
The service product continuum - Ranges from service dominant (a laawyer) to product
dominant (grocery store)
Factors differentiating services from products - Services are intangible, heterogeneous,
inseparable, and perishable
Intangibility of services - Marketers must use atmosphere and images to invoke the
feeling in the customer and reinforce the benefit they will receive
Inseparable production and consumption of services - Services are consumed and
produced at the same time
Consumers can't always try out the product before they buy it, so businesses lower risk
by offering guarantees or warranties
Heterogeneous nature of services - Services can vary over time (different stylists can
give different haircut experiences)
Businesses can rely on training/automation or scripts to ensure quality. Micromarketing
can be used to tailor a service to the customer's exact needs.
MARK 3000 Grantham final Exam
, MARK 3000 Grantham final Exam
Perishable nature of services - Services can't be stockpiled for future use
can't be made ahead of time and stored to meet later demand
missed consumption means missed revenue
Supply and demand must be carefully managed.
The Gaps model of providing great service (4 gaps) - Designed to examine what went
wrong when service isn't delivered correctly
1. Knowledge gap
2. Standards gap
3. Delivery Gap
4. Communication gap
Service gaps- knowledge gap - Occurs when there's a gap between customer
expectation and what the company thinks the customer wants. Companies should
conduct research to ensure they're delivering what customers really want
5 dimensions of service quality - Reliability
responsiveness
assurance
empathy
tangibles
Voice-of-customer (VOC) program - A systematic approach to integrating customer
input into management decisions
Zone of tolerance - Used to evaluate effective service.
MARK 3000 Grantham final Exam
, MARK 3000 Grantham final Exam
The zone of acceptable customer service between what the customer expects and the
minimum before he will leave for another company
Service gaps- standards gap - The gap between a company's perceptions of what
customers want and the standards set for employees. Employees should be thoroughly
educated about proper service standards
Service gaps- delivery gap - Gap b/w standards set and actual service delivered.
Employees should be empowered to perform better through proper training, monitoring,
and rewarding good service.
Employee empowerment in service delivery - Employees need emotional support and
instrumental support.
They need to know that they will be supported if a customer yells at them or if they bend
the rules to help an angry guest. They also need the support of store systems and
structure that enables them to help unhappy customers.
Service gaps- communication gap - The gap between what the firm provides and what it
advertises. Companies need to be honest about what they provide and manage
customer expectations
Service recovery and its three components - The act of showing customer commitment
after service failure
1. Listen to the customer
2. Resolve problems quickly
3. Provide a fair solution
MARK 3000 Grantham final Exam
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