Introduction, Services and Service Marketing (7)

Question 1

As consumers, we are increasingly opting for ______ over ______ to satisfy our needs and desires.

Answer 1

services, products

Not too many years ago we would purchase movies on DVD or music on CDs. Now, most of us consume entertainment through streaming services.

Question 2

Services make up a major and ________ part of the economies of most developed nations.

Answer 2

growing

Question 3

Services are prominent in the economies of…

Answer 3

most developed nations

Question 4

Adding a service component to what are traditionally product sales is a strategy that is providing a…

Answer 4

competitive advantage to many companies

Question 5

Do services have different characteristics than products?

Answer 5

Yes

Because services have different characteristics than products, the marketing of services requires a different approach than does product marketing.

Question 6

To listen to most politicians talk, you might conclude that _________ is the most important part of the economy in the United States.

Answer 6

manufacturing

they express a lot of concern about manufacturing that goes overseas, and they celebrate when a manufacturer expands domestically.

Question 7

which is a smaller sector of the economy: manufacturing sector or service sector?

Answer 7

manufacturing

manufacturing is not forecasted to grow either

Question 8

What is the largest economic driver of economic activity in the United States?

Answer 8

services

the importance of services continues to grow.

Question 9

he U.S. Census Bureau’s Bureau of Economic Analysis reported services jobs account for over _____ percent of private-sector employment in the U.S.

Answer 9

80

Question 10

The U.S. enjoys a _______ in services trade, with the services sector accounting for about one-third of total U.S. ________

Answer 10

surplus, exports

Question 11

How much does the service sector generate in U.S. exports?

Answer 11

1/3 of U.S exports

Question 12

Businesses and consumers alike purchase and use a lot of services, and this creates _______ for marketers that understand how to promote them.

Answer 12

demand

Question 13

What are some examples of active services?

Answer 13

• Spotify
• ordering a smoothie from a smartphone app
• online marketing textbook
• Stukent
• A college class
• haircut/stylist
• GrubHub
• Uber

Question 14

What is a definition for services?

Answer 14

are intangible products, often purchased with physical goods

Question 15

Services are _______ products, often purchased with physical goods

Answer 15

intangible

Question 16

Services are delivered in the form of ____ or _______ performed on behalf of or with the customer.

Answer 16

acts, deeds

Question 17

What can services be provided or produced by?

Answer 17

• a person, or increasingly, technology, for the benefit of a person.

Question 18

services are provided for the _______ of a person

Answer 18

benefit

Question 19

What industries are in the service sector?

Answer 19

Accounting, such as tax preparation services
Banking, such as a checking account or an ATM
Cleaning, such as the Merry Maids house cleaning services
Education, such as pre-school for a toddler or a graduate degree program
Insurance, such as home, life, health or auto
Medical and dental, such as an annual physical or having a cavity filled
Transportation, such as Uber or a municipal mass transit system

Question 20

Services are often delivered alongside the purchase of a _____ product or good.

Answer 20

tangible

Restaurants are, by definition, services businesses, even though we get a tangible benefit in the form of food. A medical diagnosis (the service) often results in a prescription (a good).

Question 21

It is increasingly rare for consumers to purchase only….

Answer 21

physical products

Question 22

why are bundling products and services on the rise?

Answer 22

because it provides the seller with a competitive advantage, and customers get more value this way.

Question 23

What is a good example of how consumer product purchases are becoming hybrid product/service purchases?

Answer 23

Walmart grocery pickup

The grocery business is one that has thin profit margins. Grocers hope to offset the low margins with volume sales. Walmart is now selling groceries (products) online and providing pickup services, allowing volume growth by gaining share from grocers that don’t offer this service.

Question 24

Product marketing has a lot to do with _______ the product, identifying the ideal ______ customer, and effectively ________ its features, advantages, and benefits.

Answer 24

positioning, target, communicating

Question 25

Customers can evaluate products by their physical properties because…

Answer 25

products are tangible

Question 26

Services usually consist of a person performing a _____ for the ______ of a customer.

Answer 26

task, benefit

Question 27

When we market services, we are often marketing the….

Answer 27

people who perform the service.

Question 28

In the 7-P’s marketing mix which P does service fall under?

Answer 28

process

Question 29

Services marketing is the process of…

Answer 29

planning, delivering, and then improving the individual service acts and performances that create memorable experiences when satisfying a buyer’s needs.

Question 30

What are the three components of the shrive marketing?

Answer 30

1. planning
2. delivering
3. improving