Week 1 Flashcards
What is the largest service industry?
Property and business services
How much of the economy’s output did property and business services account for over 2000-2001?
14%
What is the economy’s largest employer?
Retail Trade
How many jobs does retail trade account for?
1.3 million or 15%
What are 3 examples of business services?
Engineering, legal services, insurance
What is the order of value creation ?
Choose the value, create the value, communicate the value
What are 3 examples of customer service?
Restaurant, airline, medical
What is service dominant logic?
A unified understanding of the purpose and nature of organisations, makers and society
What is tangible and intangible?
Tangible - touch, feel and posess
Intangible - experience
What are 3 tangible services
Fast food resturant, house, soft drink
What are 3 intangible services?
Theatre, hotel, teaching
What is the hollowing out effect?
The shift in emplyment patterns in industry economy’s
What industries are moving towards completing deregulation?
Telecommunications, health and airline
What is changing our online shopping experience?
Chatbots
What is the definition of services marketing?
Taking action to create value for someone else.
What are the 3 service as a system steps?
Service operations
Service delivery
Service marketing
 What falls under service operations?
Physical facilities, equipment, and other tangibles. 
What is service delivery system?
Where when and how the service product is delivered to the Customer. 
what Falls under service marketing systems?
All the ways in which the customer may encounter and learn about the service organisation 
What is the difference between high contact and low contact services?
High contact services involve close interactions between Customer and business.
Low contact services involves little to no contact between customers and the business. 
What are three high contact services examples?
Hotels, airlines, restaurants.
What are three low contact service examples?
Banks, Internet providers, online shops
What are the three stages of service consumption. 
Pre-purchase, purchase, post purchase
What is information search?
Internal - past knowledge
External - word-of-mouth and reviews
Who came up with the cultural Dimensions theory?
Geert Hofstede
Name the six cultural dimensions from Geert hofstedes theory.
Power distance Uncertainty avoidance Individualism and collectivism Masculinity and femininity Pragmativ and Normative Indulgence and restraint
Name three strategies for risk reduction
Seek more information
Look for guarantees and warranties
Search the web
What are the three service encounters?
High contact
Medium contact
Low contact
What are mood states?
The type of mood Customer or employee may be in which can affect the type of service delivered.
Why is it important to search for competitive advantage?
A business must set it self apart from any competition, promoting it self as the best provider.
What are the two basic focus strategies for services?
Focused and unfocused
What does focused service strategies mean?
Business offers a narrow range of products/services
What does unfocused service strategies mean?
The business offers a wide range of services and products to cater a broad range of markets. 
What are the four defining and profiling variables?
Demographic
Geographical
Psychographical
Behavioural
What are three demographic variables?
Age, race, religion
What are three geographical variables?
Countries, regions, cities
What are three psychographical variables?
Social class, lifestyle, personality
What are three behavioural variables?
Knowledge, attitude, usage
What is emotional marketing?
When companies add emotion into their ads and promotions to make you feel a certain way and entice you to purchase.
Three stages of the successful positioning strategy
Points of parity
Points of contention
Points of difference
What does B2C stand for?
Business to Customer
What does B2B stand for?
Business to business
What sort of business is B2C?
Smaller scale/personal purchases
What sort of business is B2B?
Larger scale/commercial purchases
