Marketing

Question 1

Adam Smith’s famous book

Answer 1

The Wealth of Nations

Question 2

The Wealth of Nations Author

Answer 2

Adam Smith

Question 3

The Wealth of Nations Published what year and country

Answer 3

1776 in Great Britain

Question 4

Was originally associated with the work that servants did for their masters.

Answer 4

Service

Question 5

Over a huge variety of different and often very complex activities, making them difficult to define.

Answer 5

Service

Question 6

“honorable, useful, or necessary, created services that perished at the time of production and therefore didn’t contribute to wealth.

Answer 6

Unproductive labor

Question 7

argue that services involve a form of rental through which customers can obtain benefits.

Answer 7

Christopher Lovelock and Evert Gummesson

Question 8

seven strategic levers of services marketing used to develop strategies for meeting customer needs profitably in competitive markets.

Answer 8

7ps

Question 9

Five broad categories within the non-ownership framework

Answer 9

Labor, skills, and expertise rentals.
Rented goods services
Defined space and facility rentals
Access to shared facilities
Access and use of networks and systems

Question 10

are economic activities performed by one party to another. Often time-based

Answer 10

Service

Question 11

are performed on people’s bodies or to their physical possessions

Answer 11

Tangible actions

Question 12

are performed on people’s minds or to their intangible assets.

Answer 12

Intangible Action

Question 13

Service directed at people’s bodies.

Answer 13

People processing

Question 14

service directed at people’s mind

Answer 14

Menta stimulus processing

Question 15

Service directed at physical possession.

Answer 15

Possession processing

Question 16

Service directed at intangible assets

Answer 16

Information processing

Question 17

Intangibility, Heterogeneity, Inseparability of production and consumption, and Perishability of output.

Answer 17

IHIP

Question 18

lie at the heart of a firm’s marketing strategy.

Answer 18

Service product

Question 19

Service distribution may take place through physical or electronic channels

Answer 19

Place and Time

Question 20

What should we tell customers and prospects about our services

Answer 20

Promotion and Education

Question 21

product value, payment is very important in allowing a value exchange to take place

Answer 21

Price and Other User Outlays

Question 22

Smart managers know that where services are concerned, how a firm does things is as important as what it does

Answer 22

Process

Question 23

the design of the physical environment or services cape

Answer 23

Physical Environment

Question 24

direct interaction between customers and service employees

Answer 24

People

Question 25

need awareness, information search, evaluation of alternatives, and making a purchase decision.

Answer 25

Prepurchase

Question 26

When a person or organization decides to buy or use a service, it is triggered by an underlying need or needs arousal.

Answer 26

Need Awareness.

Question 27

Once a need has been recognized, customers are motivated to search for solutions to satisfy that need.

Answer 27

Information Search

Question 28

can be derived from past experiences or external sources such as social media, and online reviews. The brand comes from people's minds when need a product or service

Answer 28

Evoked set

Question 29

narrow it down to a few alternatives to seriously consider, and these alternatives

Answer 29

Consideration set

Question 30

model holds that consumers use service attributes important to them to evaluate and compare alternative offerings in their consideration set.

Answer 30

Multi-Attribute Model

Question 31

The multi-attribute model assumes that consumers can evaluate all important attributes before purchasing.

Answer 31

Service attribute

Question 32

They are tangible characteristics that customers can evaluate before purchasing.

Answer 32

Search attribute

Question 33

they cannot be evaluated before purchase.

Answer 33

Experience attribute

Question 34

these are characteristics that customers find hard to evaluate even after consumption

Answer 34

Credence attribute

Question 35

usually greater for services that are high in experience and credence attributes, and first-time users are likely to face greater uncertainty.

Answer 35

Perceieved risk

Question 36

formed during the search and decision-making process through a customer's search and evaluation of information and alternatives

Answer 36

Expectation

Question 37

The type of service customers hopes to receive is termed the desired service. It's a "wished for" level.

Answer 37

Desired Service

Question 38

The minimum level of service customers will accept without being dissatisfied,

Answer 38

Adequate Service

Question 39

This is the level of service that customers actually anticipate receiving at a specific service encounter.

Answer 39

Predicted service

Question 40

It can be difficult for firms to achieve consistent service delivery at all touch points across many service delivery channels, branches, and often thousands of employees.

Answer 40

Zone of tolerance

Question 41

quite simple and can be made quickly without too much thought.

Answer 41

Purchase decision

Question 42

an organized approach where customers are presented with coherent evidence of the company's targeted image and its value proposition.

Answer 42

Evidence management

Question 43

barrow the word “Moments of Truth”

Answer 43

Richard Normann

Question 44

the customer initiates, experiences, and consumes the service.

Answer 44

Service encounter

Question 45

means there is direct contact between customers and the firm throughout the entire service delivery.

Answer 45

High contact service

Question 46

involve little, physical contact

Answer 46

Low-contact service

Question 47

service delivery consists of a series of events that customers experience as a performance

Answer 47

Theater Metaphor

Question 48

is a particularly useful approach for high-contact service providers

Answer 48

Metaphor

Question 49

defined as combinations of social cues or expectations of society that guide behavior in a specific setting or context.

Answer 49

Role theory

Question 50

define a role as “a set of behavior patterns learned through experience and communication

Answer 50

Stephen Grove and Ray Fisk

Question 51

means that the customer can change the situation and ask for customization beyond what the firm typically offers.

Answer 51

Behavioral control

Question 52

means that the customer can choose between two or more standardized options

Answer 52

Decision control

Question 53

refers to the customer understanding why something happens. Also, can predict what happen next.

Answer 53

Cognitive control

Question 54

Cognitive control Also called as

Answer 54

predict control

Question 55

evaluation of the service performance. Future Intentions.

Answer 55

Post-encounter stage

Question 56

If performance is better than expected.

Answer 56

Positive disconfirmation

Question 57

If performance perceptions are worse than expected.

Answer 57

Negative dosconfirmation

Question 58

If it is as expected

Answer 58

Confirmation of expectations

Question 59

survey instrument developed by Valarie Zeithaml and her colleagues.

Answer 59

SERVQUAL

Question 60

Is seen as a generic measurement tool that can be applied across a broad spectrum of service industries.

Answer 60

SERVQUAL

Question 61

is a customer’s willingness to continue patronizing a firm over the long-term

Answer 61

Loyalty

Question 62

The opposite of loyalty.

Answer 62

Defection

Question 63

implies a defined and consistent “bundle of output” as well as the ability to differentiate one bundle of output from another.

Answer 63

Product

Question 64

Service performances are experienced rather than owned.

Answer 64

Service product

Question 65

is “what” the customer is fundamentally buying.

Answer 65

Core Product

Question 66

central component supplying the principal benefits and solutions that customers seek.

Answer 66

Core Product

Question 67

which augment the core product, both facilitating its use and enhancing its value.

Answer 67

Supplementary Service

Question 68

The third component in designing a service concept concerns the processes used to deliver both the core product and each of the supplementary services.

Answer 68

Delivery Processes

Question 69

consists of the core service and a range of supplementary services.

Answer 69

Flower of Service

Question 70

Facilitating Service

Answer 70

Information Order-taking Billing Payment

Question 71

Enhancing Services

Answer 71

Consultation Hospitality Safekeeping Exceptions

Question 72

To obtain full value from any good or service, customers need relevant information Order-Taking.

Answer 72

Information

Question 73

Once customers are ready to buy, a key supplementary element comes into play

Answer 73

Order-taking

Question 74

common to almost all services

Answer 74

Billing

Question 75

In most cases, a bill requires the customer to take action on payment

Answer 75

Payment

Question 76

In contrast to information, which suggests a simple response to customers’ questions consultation. Involves a dialog to probe for customer requirements and then develop a tailored solution.

Answer 76

Consultation

Question 77

It represents a more subtle approach to consultation because it involves helping customers to better understand their situations so they can come up with their “own” solutions and action programs.

Answer 77

Counseling

Question 78

should ideally reflect the pleasure of meeting new customers and greeting old ones when they return.

Answer 78

Hospitality

Question 79

When customers are visiting a service site, they often want assistance with their personal possessions.

Answer 79

Safe Keeping

Question 80

Involve supplementary services that fall outside the routine of normal service delivery.

Answer 80

Expectation

Question 81

Type of expectation

Answer 81

Special requests Problem-solving Handling of complaints/suggestions /compliments Restitution

Question 82

A customer may request service that requires a departure from normal operating procedures. Common requests relate to personal needs

Answer 82

Special requests

Question 83

Sometimes normal service delivery (or product performance) fails to run smoothly because of an accident, delay, equipment failure, or a customer having difficulty using a product.

Answer 83

Problem-Solving

Question 84

This activity requires well-defined procedures. It should be easy for customers to express dissatisfaction, offer suggestions for improvement, or pass on compliments.

Answer 84

Handling of complaints/suggestions /compliments

Question 85

Many customers expect to be compensated for serious performance failures. Compensation may take the form of repairs under warranty, legal settlements, refunds, an offer of free service, or other forms of payment-in-kind.

Answer 85

Restitution