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What are the key factors that influence services?
- Customer demand
- Competition
- Technology
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What are the definitions of services?
- a) Acts, deeds, performances
- b) economic activities whose output is not a physical part
- c) An integral part of many manufactured goods
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What are the unique characteristics of services
a. Perishable
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- iii. Simultaneously produced and consumed
b. Heterogeneous
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- i. Service provider changes
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- ii. Service delivery changes
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- iii. Service environment changes
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- iv. Provider and consumer participate simultaneously
c. Operational Excellence
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- i. Purchasing a ticket à completing a flight
d. Encounter Based
e. Non-conditional Guarantees
f. Intangible
g. (Xcellent) Excellent People
(P.H.O.E.N.I.X)
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What is the evolution of service economies?
- Consumer goods
- Durables
- Industrial
- Services
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What is the service marketing mix?
- Product
- Price
- Promotion
- Place
- +++
- People
- Process
- Physical Evidence
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What are the five dimensions of service quality?
- Relatibility - Ability to perform
- Responsiveness - being willing to help
- Assurance - Inspiring trust
- Empathy - Treating customers as individuals
- Tangibles - representing the service physically
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What are some service failures?
- Over promise =knowledge gap
- Lack of communication
- Failed to enable promise
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What are mechnisims of control?
- Formal (NDA, Contract)
- Informal (Trust, handshake)
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What are marketing metric inputs?
- Strategy
- Operations
- Marketing
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What are marketing metic outputs?
- Employee satisfaction
- Financial
- Customer satisfaction
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What are eMetrics?
- Click throughs
- Impressions
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What is advertising?
- Postion the product
- Provide ideas for usage
- Inform customer where to buy
- create brand awareness
- Develop retalier interests
- Reinforce customer purchase decision
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What are reasons to advertize?
- product has hidden qualities
- emotional appeals can be used
- mass media can convey message
- sales volume support the cost
- brand loyalty is at stake
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What are promotions?
- Coupons
- sweepstakes, lottery
- buy one, get one free
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What is the role of promotions?
- reinforce ad message at point of sale
- trigger impulse buying
- generate consumer excitement
- stimulate switching
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What is the primary objective of promotions?
Change behavior
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What are the steps to build an ad campaign?
- Motives - target audience
- Messages - tell them what they like to hear
- Media - selection, scheduling
- Money - Budget
- Measurement - Evaluation other campaign
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What is the framework of messaging?
- Awareness
- knowledge
- interest
- trial
- purchase
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What are the international impact factors?
- Regulation
- Culture
- Language
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What is customer lifetime value?
A prediction of the net profit attributed to the entire future relationship with the customer.
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How do you manage demand imbalance?
- Non reach pricing
- Develop complementary services
- Reservations
- Inform/communication with customers
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How do you manage Supply imbalance?
- Part time employees
- impose efficiency
- customer participation
- Share/lease capacity
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