Marketing 351 Midterm

Definition of Services:
Click the card to flip 👆
1 / 28
Terms in this set (28)
Definition of Services:
Economic activities offered by one party to another
Categories of Services:
People
Possessions
Mental status
Information
What Percent of the Global Economy is Dominated by Service:
63%
Characteristics of Services:
Intangibility
Heterogeneity
Inseparability
Perishability
The P's of Marketing:
Product
Place/Time
Price
Promotion/Education
Process
Physical Environment
People
What is Service Quality:
A high standard of performance that consistently meets or exceeds customer expectations
Different Perspectives of Service Quality:
Transcendent
Manufacturing-based
Value-based
User-based
Components of Quality - Product Based View:
Performance
Features
Reliability
Conformance
Durability
Serviceability
Esthetics
Perceived quality
Components of Service Quality - Service Based View:
Tangibles
Reliability
Responsiveness
Assurance
Empathy
Types of Service Quality Measures:
Soft
Hard
Key Customer-Centric SQ Measures:Total market/annual/transactional surveys Service feedback cards Mystery shopping Analysis of unsolicited feedback Focus group discussion and service reviews Online reviewsService Quality Indexes:Embrace key activities that have an impact on customersTools to Analyze and Address Service Quality Problems:Fishbone diagram Pareto chart BlueprintingReturn on Quality (ROQ):Assess costs as well as benefits of quality initiativesOperations-Driven Strategies to Improve Service Productivity:Control costs/reduce waste Set productive capacity to match average demand Automate labor tasks Upgrade equipment and systems Cross-train employees Leverage less-skilled employees through expert systems Service process redesignCustomer-Driven Strategies to Improve Service Productivity:Change timing of customer demand Involve customers more in production Ask customers to use third partyPurchase Process for Services:Pre-purchase stage - Overview Service encounter stage - Unique to buying services Post-encounter stagePre-Purchase Stage: Overview:Need arousal Information search Evaluating alternatives Purchase decisionServices Attributes:Search Experience CredencePerceived Risks in Buying and Using Services:Functional Financial Temporal Physical Psychological Social SensoryCustomer Delight is a Function of These Components:Unexpectedly high levels of performance Arousal Positive effectFour Steps of Developing a Service Blueprint:Identify all key activities in creating. and delivering service Specify linkages between activities Develop a simple flowchart documenting process from customer's perspective Add detailsFour Steps in Service Process Redesign:Examining the service blueprint with key stakeholders Eliminating non-value adding steps Addressing bottlenecks in the process Shifting to self-service if necessaryThe 3 Leg Rule:Ability Motivation OpportunityGrowth Strategies:The 'blue sky' approach The 'build on your strengths' approachFour Principles of a Positioning Strategy:Establish a position for firm or product in minds of customers Position should be singular, providing one simple, consistent message Set firm/product apart from competitors Cannot be all things to all people - must focus its effortsFive Key Questions to Ask for Positioning:What does our firm stand for Who do we serve now What is our value proposition and target segmentation How do our. service offerings differ from competitor's What changes must we make to our offeringsInternal (Corporate) Analysis:Positioning links market analysis and competitive analysis