2.quiz on marketing for service
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This document contains a 20 question quiz about marketing for services. The quiz covers topics such as the definition of services, how services differ from goods, ways to classify services, service quality dimensions, developing service processes, internal marketing, relationship marketing strategies, handling customer complaints, pricing services, the importance of distribution for services, and factors that will influence future changes in the service industry. The document provides multiple choice answers for each question about marketing services.
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1. Understanding the importance of measuring customer satisfaction and evaluating techniques like sales levels, complaints, follow-ups, and satisfaction surveys.
2. Designing a customer satisfaction survey involves deciding objectives, writing questions, and reviewing results. Objectives typically seek to determine satisfaction levels and their links to customer/product characteristics.
3. Techniques like surveys offer flexibility but superficial answers, while sales provide actual intentions but not which aspects appeal to customers. Complaints specify issues but require management, and follow-ups personalize care but investment.
Service recovery
This document discusses achieving service recovery and obtaining customer feedback. It outlines components of an effective service recovery system such as doing the job right the first time, effective complaint handling, and learning from recoveries. It also discusses customer complaining behaviors, service guarantees, and dealing with abusive customer behaviors. Key points covered include understanding why and how customers complain, designing service guarantees, discouraging customer fraud, and creating institutionalized learning from customer feedback.
34
This document discusses key differences and strategies for marketing services compared to goods. Services are intangible, perishable, inseparable from their production, heterogeneous, and provide no ownership. Strategies to address these differences include branding to overcome intangibility, focusing on benefits, using personalities to personalize services, improving employee training and motivation, standardizing processes, and matching supply and demand through pricing. A successful service differentiates the customer experience through memorable interactions and capitalizing on those experiences through retention strategies that are less costly than new customer acquisition.
Pricing of services
Pricing services is more complex than pricing goods due to several factors: customer knowledge of service prices can vary; services often have high variability between providers; and providers may be unwilling to estimate prices in advance as the nature of the service is not fully known until delivery. Non-monetary costs like time, search, convenience, and psychological costs also influence demand. While reputation and advertising are preferred quality cues, price may be viewed as a quality signal, especially for high-risk services. Common approaches to pricing services include cost-based pricing using direct and overhead costs, competition-based pricing by monitoring competitors, and demand-based pricing by relating price to customer perceived value.
Services Marketing
The document provides an overview of services marketing concepts including:
1) It defines services and identifies key differences between goods and services such as intangibility, perishability, and simultaneous production and consumption.
2) It introduces the services marketing triangle and expanded 7Ps marketing mix framework for services.
3) It discusses models for understanding service quality like the gaps model and challenges in consumer behavior related to services like higher perceived risk and difficulty evaluating service alternatives.
Introduction to service marketing
This is a compilation of introductory notes on Service Marketing with emphasis on meaning, evolution, universal nature of services, challenges to delivering services and finally basic insights into 7Ps of marketing from the perspectives of marketing of services.
Classification of services
Service can be classified in several ways, including by market segment, degree of tangibility, skills of the service provider, goals of the service provider, degree of regulation, degree of labor intensiveness, and degree of customer contact. In India, services contribute 60% to GDP and 35% to employment, with 80% of exports dominated by high-skilled services like software and communication. Services can be categorized as catering to end consumers or organizational customers, having tangible, rental, or non-good offerings, and requiring highly skilled or unskilled labor. They can also be profit-making or non-profit, face high, limited, or absent regulation, and be equipment-based, people-based, requiring un
Service Marketing
The document discusses the servuction model, which illustrates factors that influence the customer's service experience, including visible and invisible components. It also covers blueprinting, which is used to map out the customer service process. Blueprinting identifies touchpoints, both what customers can see and back-end operations. The document provides an example blueprint of an overnight hotel stay. It notes fail points as areas where issues could arise that are visible and significant to customers.
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Measuring Customer Satisfaction
The document discusses measuring customer satisfaction through surveys. It covers:
1. Understanding the importance of measuring customer satisfaction and evaluating techniques like sales levels, complaints, follow-ups, and satisfaction surveys.
2. Designing a customer satisfaction survey involves deciding objectives, writing questions, and reviewing results. Objectives typically seek to determine satisfaction levels and their links to customer/product characteristics.
3. Techniques like surveys offer flexibility but superficial answers, while sales provide actual intentions but not which aspects appeal to customers. Complaints specify issues but require management, and follow-ups personalize care but investment.
Service recovery
This document discusses achieving service recovery and obtaining customer feedback. It outlines components of an effective service recovery system such as doing the job right the first time, effective complaint handling, and learning from recoveries. It also discusses customer complaining behaviors, service guarantees, and dealing with abusive customer behaviors. Key points covered include understanding why and how customers complain, designing service guarantees, discouraging customer fraud, and creating institutionalized learning from customer feedback.
34
This document discusses key differences and strategies for marketing services compared to goods. Services are intangible, perishable, inseparable from their production, heterogeneous, and provide no ownership. Strategies to address these differences include branding to overcome intangibility, focusing on benefits, using personalities to personalize services, improving employee training and motivation, standardizing processes, and matching supply and demand through pricing. A successful service differentiates the customer experience through memorable interactions and capitalizing on those experiences through retention strategies that are less costly than new customer acquisition.
Pricing of services
Pricing services is more complex than pricing goods due to several factors: customer knowledge of service prices can vary; services often have high variability between providers; and providers may be unwilling to estimate prices in advance as the nature of the service is not fully known until delivery. Non-monetary costs like time, search, convenience, and psychological costs also influence demand. While reputation and advertising are preferred quality cues, price may be viewed as a quality signal, especially for high-risk services. Common approaches to pricing services include cost-based pricing using direct and overhead costs, competition-based pricing by monitoring competitors, and demand-based pricing by relating price to customer perceived value.
Services Marketing
The document provides an overview of services marketing concepts including:
1) It defines services and identifies key differences between goods and services such as intangibility, perishability, and simultaneous production and consumption.
2) It introduces the services marketing triangle and expanded 7Ps marketing mix framework for services.
3) It discusses models for understanding service quality like the gaps model and challenges in consumer behavior related to services like higher perceived risk and difficulty evaluating service alternatives.
Introduction to service marketing
This is a compilation of introductory notes on Service Marketing with emphasis on meaning, evolution, universal nature of services, challenges to delivering services and finally basic insights into 7Ps of marketing from the perspectives of marketing of services.
Classification of services
Service can be classified in several ways, including by market segment, degree of tangibility, skills of the service provider, goals of the service provider, degree of regulation, degree of labor intensiveness, and degree of customer contact. In India, services contribute 60% to GDP and 35% to employment, with 80% of exports dominated by high-skilled services like software and communication. Services can be categorized as catering to end consumers or organizational customers, having tangible, rental, or non-good offerings, and requiring highly skilled or unskilled labor. They can also be profit-making or non-profit, face high, limited, or absent regulation, and be equipment-based, people-based, requiring un
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The document discusses the servuction model, which illustrates factors that influence the customer's service experience, including visible and invisible components. It also covers blueprinting, which is used to map out the customer service process. Blueprinting identifies touchpoints, both what customers can see and back-end operations. The document provides an example blueprint of an overnight hotel stay. It notes fail points as areas where issues could arise that are visible and significant to customers.
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Service Positioning
After a service strategy has been identified, a company must decide how to position its product most effectively. The concept of positioning involves establishing a distinctive place in the minds of target customers relative to competing products.
In “The New Positioning: The Latest on the World's #1 Business Strategy”, Jack Trout distills the essence of positioning into the following four principles
1. A company must establish a position in the minds of its targeted customers.
2. The position should be singular, providing one simple and consistent message.
3. The position must set a company apart from its competitors.
4. A company cannot be all things to all people—it must focus its efforts.
Positioning and Marketing Strategy
Companies use positioning strategies to distinguish their services from competitors and to design communications that convey their desired position to customers and prospects in the chosen market segments. There are a number of different dimensions around which positioning strategies can be developed.
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This chapter discusses the importance of studying services marketing. It notes that services now dominate most economies and account for over 60% of GDP worldwide. Most new employment is also being generated by the services sector. The chapter provides an overview of key topics to be covered, including the challenges of marketing services, developing an extended marketing mix for services, and integrating marketing with other management functions. It also examines factors driving the transformation of service economies, such as advances in information technology, globalization, social changes, and government policies.
7 Sm Gaps Model
The Gaps Model proposes that there are 5 gaps between a customer's expected service and their perceived service. Gap 1 is between customer expectations and a company's understanding of those expectations. Gap 2 is between a company's understanding and their service design standards. Gap 3 is between service standards and actual service delivery. Gap 4 is between a company's marketing communications and the service delivered. Gap 5 is between customer expectations and their perceptions of the service received. More recently, 2 additional gaps were proposed regarding employees' perceptions of customer expectations.
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This document discusses various perspectives on defining and measuring service quality. It begins by outlining four common definitions of quality: product-based, user-based, manufacturing-based, and value-based. It then describes two categories of service quality - internal and external quality. Several frameworks for measuring dimensions of service quality are presented, including the eight dimensions identified by David Garvin and the SERVQUAL model developed by Parasuraman, Zeithmal and Berry. The document also discusses tools for collecting customer feedback and analyzing service quality problems.
Physical evidence in services
Physical evidence in services includes the tangible components that customers interact with during service delivery, such as facilities, equipment, and materials. The environment where the service is delivered is called the "servicescape" and influences customer and employee behaviors. Servicescapes can be designed to facilitate service delivery, differentiate a provider in the market, and impact customer perceptions through qualities like ambience and cleanliness.
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Services distributions
This document discusses different methods for distributing services, including direct delivery by the service producer and delivery through intermediaries. Direct delivery allows the service producer to directly provide services to customers but intermediaries like franchises, agents, and brokers also deliver services using processes developed by the producer. Common intermediaries are franchises, which license a service format, and agents or brokers who connect buyers and sellers. Electronic channels provide an alternative to direct human interaction for service distribution.
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These are complete slides and are based on the book of christover lovelock and useful for MBA & BBA students... These slides covers all the syllabus of different universities...
Service quality servqual model
1) The document discusses service quality and provides definitions of key terms like quality, service quality, and dimensions of service quality. It also outlines the importance of quality in services and ways to maintain service quality.
2) Total Quality Management (TQM), Six Sigma, and Quality Assurance Systems are discussed as approaches to ensure and improve service quality.
3) The document summarizes a research paper that examines how cultural differences affect retail customers' expectations of service quality in Hong Kong supermarkets. The study developed scales based on existing SERVQUAL and RSQS models to assess perceptions of service quality.
Service marketing
This document provides an overview of services marketing. It defines services and discusses their key characteristics of intangibility, variability, and perishability. It also examines the 7Ps marketing mix framework for services - product, price, place, promotion, people, physical evidence, and process. Additionally, it outlines the three stages of the service consumption process - the pre-purchase, service encounter, and post-purchase stages. Finally, it introduces the concept of the services triangle to address the challenges of understanding customer needs, making services tangible, and keeping promises through internal, external, and interactive marketing.
Measuring Customer Satisfaction
The document discusses measuring customer satisfaction. It defines customer satisfaction as a measure of how well a company's products and services meet or exceed customer expectations. It also discusses direct and indirect methods for obtaining customer feedback, including surveys, complaints, loyalty, and expectations. The key to customer satisfaction is understanding customer expectations and pinpointing specifically where a company may be failing to meet those expectations.
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This chapter introduces services marketing. It discusses why services are important to study as they dominate the economy in many nations. Powerful forces are transforming service markets, including social changes, business trends, advances in technology, and globalization. Services are defined as involving the rental of benefits rather than the transfer of ownership, and are categorized into rented goods, defined space rentals, labor and expertise rentals, access to shared environments, and systems/networks. The challenges of marketing services compared to goods are also addressed.
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Test paper final test marketing for services semes 2
1. The document outlines an exam for a Service Marketing course, covering topics like service standards, customer expectations, service quality gaps, and non-monetary costs of marketing services.
2. The exam consists of four sections: definition questions to match terms to their definitions, multiple choice questions about customer standards and service marketing concepts, true/false statements testing understanding of topics, and two discussion questions requiring examples and explanations.
3. It provides context for an exam assessing a student's knowledge of key aspects of service marketing, quality standards, and customer expectations, as tested through various short-answer question formats.
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Physical evidence and the servicescape
Chapter 10 discusses physical evidence and servicescapes, specifically how the physical environment impacts customer and employee perceptions and behavior. It covers types of servicescapes, the roles they play, and frameworks for understanding how servicescapes influence behavior. The chapter also provides guidelines for developing effective physical evidence strategies and analyzes approaches for understanding the effects of the physical environment.
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CHAPTER – 5
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Most companies have to learn the importance of excellent service recovery for disappointed customers and practice them.
This in reality is a combination of several different strategies that need to work together, as given below in the presentation
Services Marketing - Service Positioning
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After a service strategy has been identified, a company must decide how to position its product most effectively. The concept of positioning involves establishing a distinctive place in the minds of target customers relative to competing products.
In “The New Positioning: The Latest on the World's #1 Business Strategy”, Jack Trout distills the essence of positioning into the following four principles
1. A company must establish a position in the minds of its targeted customers.
2. The position should be singular, providing one simple and consistent message.
3. The position must set a company apart from its competitors.
4. A company cannot be all things to all people—it must focus its efforts.
Positioning and Marketing Strategy
Companies use positioning strategies to distinguish their services from competitors and to design communications that convey their desired position to customers and prospects in the chosen market segments. There are a number of different dimensions around which positioning strategies can be developed.
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Lovelock ppt chapter_01.ppt
This chapter discusses the importance of studying services marketing. It notes that services now dominate most economies and account for over 60% of GDP worldwide. Most new employment is also being generated by the services sector. The chapter provides an overview of key topics to be covered, including the challenges of marketing services, developing an extended marketing mix for services, and integrating marketing with other management functions. It also examines factors driving the transformation of service economies, such as advances in information technology, globalization, social changes, and government policies.
7 Sm Gaps Model
The Gaps Model proposes that there are 5 gaps between a customer's expected service and their perceived service. Gap 1 is between customer expectations and a company's understanding of those expectations. Gap 2 is between a company's understanding and their service design standards. Gap 3 is between service standards and actual service delivery. Gap 4 is between a company's marketing communications and the service delivered. Gap 5 is between customer expectations and their perceptions of the service received. More recently, 2 additional gaps were proposed regarding employees' perceptions of customer expectations.
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This document discusses seasonal factors that impact hotel occupancy rates and revenues. It provides occupancy data for the ACCRA Beach Resort over different months that shows rates are highest from May to July and lowest from November to February. Key considerations for accepting an offer from WICB to manage the resort's food and beverage are listed, including potential financial, marketing and operational impacts. Formulas to calculate revenue and net revenue per room under the WICB agreement are also presented.
Service quality & productivity
This document discusses various perspectives on defining and measuring service quality. It begins by outlining four common definitions of quality: product-based, user-based, manufacturing-based, and value-based. It then describes two categories of service quality - internal and external quality. Several frameworks for measuring dimensions of service quality are presented, including the eight dimensions identified by David Garvin and the SERVQUAL model developed by Parasuraman, Zeithmal and Berry. The document also discusses tools for collecting customer feedback and analyzing service quality problems.
Physical evidence in services
Physical evidence in services includes the tangible components that customers interact with during service delivery, such as facilities, equipment, and materials. The environment where the service is delivered is called the "servicescape" and influences customer and employee behaviors. Servicescapes can be designed to facilitate service delivery, differentiate a provider in the market, and impact customer perceptions through qualities like ambience and cleanliness.
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This document discusses improving service quality and productivity. It begins with an agenda that outlines integrating quality and productivity strategies to achieve long-term profitability by delivering high quality experiences to customers more efficiently. The document then covers topics such as defining and measuring service quality and productivity, tools to analyze quality problems, and strategies to improve quality such as addressing gaps in service and implementing quality frameworks like ISO 9000 and Six Sigma. It emphasizes that quality and productivity improvements should focus on redesigning customer service processes to boost both service quality and efficiency.
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This document provides information about a live project report submitted by Zainul Abedeen Lamak for their MBA program. The report studies the promotional activities of Adidas sports shoes brand in Pune, India. It includes an evaluation criteria for the report and presentation with various components like understanding objectives, application of concepts, and quality of analysis. The report also contains an introduction covering the history and growth of the Indian sportswear industry, Adidas company profile, research methodology, findings from promotional activities, and conclusions.
Service marketing
These are complete slides and are based on the book of christover lovelock and useful for MBA & BBA students... These slides covers all the syllabus of different universities...
Service quality servqual model
1) The document discusses service quality and provides definitions of key terms like quality, service quality, and dimensions of service quality. It also outlines the importance of quality in services and ways to maintain service quality.
2) Total Quality Management (TQM), Six Sigma, and Quality Assurance Systems are discussed as approaches to ensure and improve service quality.
3) The document summarizes a research paper that examines how cultural differences affect retail customers' expectations of service quality in Hong Kong supermarkets. The study developed scales based on existing SERVQUAL and RSQS models to assess perceptions of service quality.
Service marketing
This document provides an overview of services marketing. It defines services and discusses their key characteristics of intangibility, variability, and perishability. It also examines the 7Ps marketing mix framework for services - product, price, place, promotion, people, physical evidence, and process. Additionally, it outlines the three stages of the service consumption process - the pre-purchase, service encounter, and post-purchase stages. Finally, it introduces the concept of the services triangle to address the challenges of understanding customer needs, making services tangible, and keeping promises through internal, external, and interactive marketing.
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The document discusses measuring customer satisfaction. It defines customer satisfaction as a measure of how well a company's products and services meet or exceed customer expectations. It also discusses direct and indirect methods for obtaining customer feedback, including surveys, complaints, loyalty, and expectations. The key to customer satisfaction is understanding customer expectations and pinpointing specifically where a company may be failing to meet those expectations.
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The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive function. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
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The document discusses key concepts related to marketing services. It defines services and their unique characteristics such as intangibility, inseparability, and variability. It also covers the 7 P's of the service marketing mix - product, price, place, promotion, people, process, and physical evidence. The document categorizes different types of services based on what is processed (people or objects) and the nature of the process (tangible or intangible actions). It also discusses service positioning, encounters, and the purchase process for services.
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This chapter introduces services marketing. It discusses why services are important to study as they dominate the economy in many nations. Powerful forces are transforming service markets, including social changes, business trends, advances in technology, and globalization. Services are defined as involving the rental of benefits rather than the transfer of ownership, and are categorized into rented goods, defined space rentals, labor and expertise rentals, access to shared environments, and systems/networks. The challenges of marketing services compared to goods are also addressed.
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Question 21 of 285.0 Points(Exhibit Demand for Shirts) Th.docx
Question 21 of 28
5.0 Points
(Exhibit: Demand for Shirts) The price elasticity of demand for the segment CD is:
A.greater than 1 (absolute value).
B.-1.
C.-0.71.
D.-0.29.
Question 22 of 28
5.0 Points
(Exhibit: Markets and Efficiency) In panel (a):
A.the price of apples is $0.80 and the quantity demanded is Q1.
B.the equilibrium price ensures that quantity demanded will match quantity supplied.
C.the equilibrium price ensures that there will be neither surpluses nor shortages.
D.all of the above are true.
Question 23 of 28
5.0 Points
(Exhibit: Markets and Efficiency) The equilibrium price in Panel (a) tells us that the marginal cost of a pound of apples is:
A.less than $0.80.
B.equal to $0.80.
C.greater than $0.80.
D.equal to the average cost of producing apples.
Question 24 of 28
5.0 Points
(Exhibit: Markets and Efficiency) The price and marginal cost in Panel(a) are equal because of:
A.the marginal decision rule.
B.the law of demand.
C.the law of supply.
D.the law of increasing cost.
Question 25 of 28
5.0 Points
(Exhibit: Markets and Efficiency) What is the marginal benefit to a producer of an extra pound of apples in Panel (a)?
A.It is the price the producer receives.
B.It is the price the consumer receives.
C.It is the price the producer pays.
D.It is all of the above.
Question 26 of 28
5.0 Points
(Exhibit: Markets and Efficiency) What is the marginal cost of an extra pound of apples to a producer in Panel(a)?
A.It is greater than the price.
B.It is the value that must be given up to produce an extra pound of apples.
C.It must be less than the price.
D.It is the cost of the least satisfactory apples.
Question 27 of 28
5.0 Points
(Exhibit: Markets and Efficiency) In Panel (b) demand shifted from D1 to D2, reflecting a change in consumer preferences. The price of apples will change to the new equilibrium price:
A.where the marginal benefit of apples is again equal to the marginal cost.
B.of $0.70.
C.where an efficient solution is again achieved.
D.that is described by all of the above.
6
7
1) To develop a marketing strategy:
1- Customer excellence: Focuses on retaining loyal customers and excellent customer service.
2- Operational excellence: Achieved through efficient operations and excellent supply chain and human resource management.
3- Product excellence: Having products with high-perceived value and effective branding and positioning.
4- Locational excellence: Having a good physical location and Internet presence.
a- Segmentation: a market segment consisting of consumers who respond similarly to firm marketing efforts. The process of dividing the market into groups of customers with different needs, wants, or characteristics – who therefore might appreciate products or service geared especially for them.
1- Establish the overall strategy or objectives.
2- Use segmentation methods.
b- Targeting: after a firm has identified the various ...
Test Bank for Managing Operations Across the Supply Chain 2nd Edition by Swink
Test Bank for Managing Operations Across the Supply Chain 2nd Edition by Swink
Download: https://goo.gl/UugxjQ
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Multiple Choice: On a page list 1-20 your lettered responses for submission to the Coursework Assignment (1 Point Each)
1. _____ retailing includes all the activities designed to attract, retain, and enhance customer relationships.
a.
Relationship
b.
Consumer
c.
High-performance
d.
Service
e.
Promotional
2. Dorothy Lane Market offers weekly cooking classes. These demonstrations are an example of the retailer providing its customers with:
a.
transaction service.
b.
convenient hours.
c.
informational aids.
d.
personal selling.
e.
pretransaction service.
3. Which of the following is an example of a posttransaction service offered by retailers?
a.
Information aids
b.
Counseling lessons
c.
Credit availability
d.
Delivery
e.
Layaway
4. Which of the following is an important factor to consider when determining the service level to be offered by a retailer?
a.
Target market income
b.
Selling policies of your channel partners
c.
Price image
d.
Minimum wage rate
e.
level of inflation
5. Which of the following describes the degree to which an employee is involved in the total sales process?
a.
Autonomy
b.
Responsibility
c.
Individuality
d.
Involved time
e.
Task identity
6. Customers with intense and impatient personalities are characterized as:
a.
sociable.
b.
defensive.
c.
interrupters.
d.
indecisive
e.
impulsive.
7. A salesperson should illustrate how a certain product fits a customer’s already-defined criteria when the customer has what kind of choice criteria?
a.
Choice criteria in conflict
b.
No active product choice
c.
Inadequate choice
d.
Explicit choice
e.
Vague choice
8. A salesperson spends 25 minutes walking amidst the customers, looking for an interested person to engage in an approach. These 25 minutes are considered to be part of the salesperson’s:
a.
closing time.
b.
idle time.
c.
nonselling time.
d.
productive time.
e.
selling time.
9. Which of the following would be a good approach statement for a salesperson to use?
a.
Can I help you find something?
b.
How may I help you?
c.
Are you looking for anything in particular?
d.
Hello, welcome to our store.
e.
Would you be interested in applying for our credit card? You can save 10 percent, today!
10. _____ is the stage in the retail sales process where an effective salesperson continues to sell even after the sale has been competed.
a.
Approach
b.
Prospecting
c.
Sales presentation
d.
Closing the sale
e.
Suggestion selling
11. It is important to know the history of retailing because it:
a.
teaches you the basics of retailing.
b.
gives you past retailing ideas that you can use today.
c.
helps you to understand current retailing theory.
d.
will help you understand where retailing is headed in the future.
e.
helps you learn from competitors.
12. One of the main reasons for the increased retail competition during the “marketing to” era was:
a.
improved transport and communication.
b.
growth of chain stores.
c.
Mkt 475 week 9 quiz strayer
This document provides a summary of a quiz covering Chapter 13 on sales, digital, and direct marketing strategies. It includes 30 multiple choice questions and 5 essay questions testing understanding of key concepts like the steps in developing a salesforce strategy, different types of sales jobs, activities in the selling process, issues in choosing sales channels, and communication features of the internet. The questions cover topics such as missionary selling, trade selling, new business selling, consultative selling, sales organization designs, salesforce analysis techniques, direct marketing methods, advantages and disadvantages of direct marketing.
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Customer Service Test (Chapter 6 - 10)Name Multiple Choice.docx
Customer Service
Test (Chapter 6 - 10)
Name:
Multiple Choice Questions (3 points each – please highlight your response)
1) ____ The Regional Sales Manager of a medical device company is an assertive person who proactively engages in confrontational dialogue during sales meetings of his company. Being a forceful businessman, he prefers firm handshakes in his interactions and is inclined to project a confident, arrogant demeanor. He is most likely to prefer what personality style:
a. Inquisitive
b. Rational
c. Expressive
d. Decisive
2) ____ An individual who favors solitary leisure activities over people-oriented activities is most likely to adopt what personality style:
a. Decisive
b. Expressive
c. Inquisitive
d. Rational
3) ____ People who adopt the inquisitive style differ from people who adopt the expressive style in that the former tends to be more like which of the following:
a. Volunteers feelings freely
b. Be very punctual and time conscious
c. Enjoys engaging individuals in person
d. Prefers informality and closeness in interactions
4) ____ A customer approaches a salesperson to discuss details of a product he is interested in. Given her preference for the expressive style, which of the following would the customer likely be interested in:
a. The bottom line of using the product
b. Instructions that discuss the use of the product
c. Questions related to rebates and other technical information
d. The color and sizes that the product is available in
5) ____ A good way to establish good relationships with an internal customer is to:
a. Tell your co-worker about all your work and family challenges
b. Wear strong fragrances to make sure you get noticed
c. Stay connected by stopping by their work area periodically
d. Forward your calls to him/her when you are away from your desk
6) ____ One strategy for dealing with talkative customers is to:
a. Ignore all the other customers while listening to them
b. Roll your eyes and look away
c. Direct them to your co-workers
d. Used closed-end questions to guide the conversation
7) ____ Which of the following is the last step of the problem solving model:
a. Evaluate the alternatives
b. Identify the alternatives
c. Monitor the results
d. Make a decision
8) ____ The Customer Experience Representative is confronted by an upset customers and uses a problem solving model to address the issue. She first identified the problem. The next step she should take is:
a. Monitor the results
b. Identify the alternatives
c. Make a decision
d. Evaluate the alternatives
9) ____ The last step of the service recover process is:
a. Show compassion
b. Conduct a follow up
c. Take further action
d. Apologize another time
10) ____ Which of the following statements is an example of an individualistic culture:
a. A country that provides all of it citizens with complete healthcare
b. A native tribe whose members pursue personal goals over the tribe’s
c. An ethnic group that runs all its decis.
CIMA OCS Certification Exam Master Operational Case Studies
Prepare for success with the CIMA OCS Certification Exam. Develop crucial skills in handling operational case studies, analysis, and decision-making. Elevate your career prospects in management accounting
A case study on etrade financial corporation uwsb
E*TRADE Financial Corporation is a financial services company founded in 1992 that provides brokerage services for stocks, options, futures, mutual funds, currencies, and bonds. It has faced issues with customer satisfaction and meeting expectations. Some customers had high expectations that the company could not meet with its available technology. Others struggled to use advanced services or incurred losses. Some were concerned about prices. To address this, the company redesigned services to be more convenient, conducted a promotional campaign, trained employees on new services and customer service, empowered employees to improve customer satisfaction, educated customers, and formed a team to direct corrective actions.
mktg-summative-test-4th-quarter (1).docx
This document contains a quiz on marketing principles for a technical vocational class. It covers topics like SWOT analysis, marketing planning, marketing audits, and the marketing mix (product, price, place, promotion). It also discusses marketing environments (macro and micro), strategic vs. tactical marketing, and principles of marketing like the goals of marketing and customer lifetime value. The quiz contains 30 multiple choice questions testing understanding of these concepts.
30 multiple choice—4 points each (120 Points), 5 discussion questi.docx
30 multiple choice—4 points each (120 Points), 5 discussion questions—6 points each (30 points)
For the following multiple choice questions, choose the correct response.
01. _____ consist(s) of deciding the scope and purpose of the business, the objectives, and the resources necessary to achieve the objectives.
A. Marketing strategy
B. Corporate strategy
C. Market sensing
D. Channel bonding
02. In a corporate strategy, _____ indicate(s) the dimensions of performance upon which to focus and the levels of achievement required.
A. corporate objectives
B. synergies
C. vision
D. scope
03. _____ is the combination of the product, value chain, price, and promotion strategies a firm uses to place itself against its key competitors in meeting the needs and wants of the buyers in the market target.
A. Positioning strategy
B. Customer relationship management
C. Customer linking
D. Market targeting strategy
04. Which of the following is the first step in defining and analyzing product-markets?
A. Forecasting market size
B. Determining the boundaries of the market
C. Analyzing competition
D. Predicting rate of change of the market
05. _____ analysis is horizontal and only covers similar types of firms and operating practices of the firms.
A. Value chain
B. Industry
C. Market segmentation
D. Customer profile
06. _____ is measured by comparing the share of the firm against the competitor with the highest market share in the segment.
A. Market segmentation
B. Relative market position
C. Product differentiation
D. Customer segment
07. Company sales divided by the total sales of all firms for a specified product-market determines the _____ of a particular firm.
A. market potential
B. absolute threshold
C. relative market position
D. market share
08. _____ is the process of identifying and analyzing sub-groups of buyers in a product-market with similar response characteristics.
A. Flighting
B. Benchmarking
C. Market segmentation
D. Product differentiation
09. The ______ variables divide a market into segments according to the buyers’ age, income, education, and other such characteristics.
A. use situation
B. buyers’ needs and preferences
C. demographic
D. purchase-behavior
10. Which of the following types of segmentations of customer groups would be characterized as a response difference?
A. Frequency of purchase
B. Income
C. Industrial sector
D. Age
11. CRM supports a customer-responsive strategy, which gains competitive advantage when it:
A. demonstrates the customer’s trustworthiness and reliability to the company.
B. delivers superior customer value by personalizing the interaction between the customer and the company.
C. tightens connections with the competitors.
D. achieves the coordination of customer capabilities around the organization.
12. The _____ component in the CRM strategy indicates how different consumer segments will be formed and managed.
A. business case
B. value proposition
C. customer strategy
D. enterprise transformation plan
13..
Exam 1
This document provides sample exam questions for Management 3710's first exam. It includes true-false and multiple choice questions covering chapters 1-3 of the course textbook, which discuss quality management fundamentals such as definitions of quality, total quality management philosophies, and quality frameworks. The questions assess understanding of key concepts like the evolution of quality practices, Deming and Juran's philosophies, and ISO standards. Discussion questions prompt analysis of quality-related topics like defining quality and linking quality to strategic planning.
Challenges Of Service Marketers In Changing Business Environment
The document discusses the challenges faced by service marketers in a changing business environment. It outlines traditional challenges like intangibility, inconsistency, inseparability, and perishability of services. Modern challenges include managing the gaps between customer expectations and perceptions, setting standards due to customization, adopting a 4th dimensional approach, managing social media, dealing with prosumer customers, transitioning from mass to niche marketing, and managing interactive markets. The document concludes that service marketers must learn more about customers, be clear and authentic, create engagement programs, leverage social media, and address complaints to succeed in today's challenging environment.
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This document provides the questions and multiple choice answers for an MKT 431 Final Exam. The exam covers topics related to marketing, including identifying business opportunities, marketing research methods, SWOT analysis, positioning, pricing strategies, and competition. The exam is due by Monday at 11:59 MST and students should record their multiple choice answers on an Answer Sheet.
Running head NEW PRODUCT LAUNCH MARKETING PLAN II .docx
Running head: NEW PRODUCT LAUNCH MARKETING PLAN
II
1
NEW PRODUCT LAUNCH MARKETING PLAN II
7New Product Launch Marketing Plan: Part 2Basil Balogun, Ashleigh Closen, Deyana Salman, Michell Simpson, Shawn StacyMKT/571
August 3, 2014
Steven Kraus
New Product Launch Marketing Plan: Part 2
Being able to target market profiles and create a position statement allows companies to identify ways to connect to the consumers. By identifying these needs the company can target opportunities to be successful in a competitive market. The target market profile describes the steps needed for managers to devise a specific platform to sell the HMI devices. By targeting the appropriate consumer market Siemens can increase the chance of success of sales at the product launch and ensure consistency for future sales. Siemens first needs to pinpoint the correct target base for the launch of the HMI product. Identifying the consumer is the appropriate first step in the process to begin the target market profile
Identifying the consumers buying behaviors is a necessary process to align the production strategy before implementing the whole plan. Without understanding the buying behavior of the consumer, it is quite impossible to draw the attention of the consumers towards the organization (Glenn Muske (2012): Understand Consumer Buying Behavior).
Good quality is a consumer demand that must be held to the highest standard. In addition to good quality there must be attention paid to the specific variety to offer the consumer interested in the HMI product.
Luring customers in to try the product is a huge task in itself. Offering the product to consumers in such a way that the buyers are motivated to the Siemens product is also very important. These decision motivators are what can bring the customers to Siemens and developing the target market profile will enable Siemens to retain consumers as well. Some examples of motivators Specific to the HMI are the following: allowing the customer to trust the product, ease of use, getting the customer excited about the product, showing the customer the need of the product, and how the product can improve their current experience.
Product life Cycle (PLC) is the process a product will go through from the when it is introduced to growth, maturity and decline. Product life cycle can be divided into several stages. Each stage can then be explained through four marketing mix implications called the four Ps.
Introduction Stage
a. Product: Patents and trademarks are obtained is this stage. The quality level is established and how the branding will be done.
b. Pricing: Penetration pricing strategy can be used and low introductory price is set to gain market shares or high skim pricing strategy to recover cost quickly.
c. Promotion: This is done to build brand awareness.
d. Place: Where the product will be sold and distribution strategy.
Growth Stage
a. Product: Features and packag.
1.mkt quiz
The document is a quiz on marketing for services. It contains 10 multiple choice questions about key concepts in services marketing, including the services triangle scale, definitions of services, the servuction model, reasons for studying services, and differences between industrial and market-focused management approaches. The key focuses on the correct answers to each of the 10 questions.
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