Question 1

What does GATS stand for?&#10;A) General Agreement on Trade in Services&#10;B) Growth Assessment of Trade Services.&#10;C) Green Approaches in Taking Services.

Accepted Answer

GATS stands for General Agreement on Trade in Services, which is a treaty within the World Trade Organization (WTO) framework, aimed at creating a credible and reliable system of international trade rules and ensuring fair and equitable treatment of all participants (principle of non-discrimination).

Question 2

Which of the following is NOT a feature of a service?&#10;A) Intangibility.&#10;B) Perishability.&#10;C) Cost effectiveness.

Accepted Answer

Services are characterized by their intangibility, meaning they cannot be seen, touched, or made tangible in any way before they are bought and consumed. They are also perishable, meaning they cannot be stored for later use or sale. Cost effectiveness, however, is not a defining feature of a service; it is a characteristic that can vary widely across different types of services and is more related to the value or efficiency of a service rather than an inherent attribute.

Question 3

What is a pure service?&#10;A) One which has a single feature.&#10;B) One which has a single benefit.&#10;C) One which contains virtually no tangible content.

Accepted Answer

Pure services are characterized by their intangible nature, meaning they consist of actions or performances rather than physical objects. Therefore, a service that contains virtually no tangible content is considered a pure service.

Question 4

Which of the following is NOT one of Lovelock's service management trinity?&#10;A) Marketing.&#10;B) Finance.&#10;C) Human resources.

Accepted Answer

Lovelock's service management trinity includes marketing, operations, and human resources, but not finance.

Question 5

Which of the following is the most important dimension of service quality?&#10;A) Tangibles.&#10;B) Reliability.&#10;C) Responsiveness.

Accepted Answer

Reliability is often considered the most important dimension of service quality because it reflects the company's ability to perform the promised service dependably and accurately. Customers value consistent and dependable service, making reliability a key factor in their satisfaction and trust in a service provider.

Question 6

What is a blueprint?&#10;A) An outline of how the service will be delivered.&#10;B) A rule book for service delivery.&#10;C) A list of customer expectations.

Accepted Answer

A blueprint is essentially an outline or plan that details how a service will be delivered, mapping out each step of the process.

Question 7

What is a Planned Pioneering Venture?&#10;A) A new service based on new competences.&#10;B) A new service based on existing competences, but within a new competitive environment.&#10;C) An old service offered to existing customers.

Accepted Answer

A Planned Pioneering Venture involves introducing a new service using existing competences but in a new competitive environment, aiming to capture new market opportunities.

Question 8

What is a Poorly Planned Industrialised Clone?&#10;A) A service which does not relate to the firm's core competences.&#10;B) A service which is copied from another company's service offerings.&#10;C) A &#34;me-too&#34; project launched without a clear understanding of customer needs.

Accepted Answer

A Poorly Planned Industrialised Clone refers to a "me-too" project that is launched without a clear understanding of customer needs, often resulting in a lack of differentiation and potential failure in the market.

Question 9

What does NTB stand for?&#10;A) Non-taxable benefits.&#10;B) Non-tariff barriers.&#10;C) New team-building.

Accepted Answer

Non-tariff barriers (NTB) refer to restrictions that result from prohibitions, conditions, or specific market requirements that make importation or exportation of products difficult and/or costly. NTBs include quotas, embargoes, sanctions, and levies, but do not include ordinary customs duties.

Question 10

What is a blocked market?&#10;A) One with high entry barriers caused by Government, labour unions or other interested parties.&#10;B) One which has a poor infrastructure which prevents goods and services passing through the distribution networks.&#10;C) One which is already saturated by competitors from the entrant's own country, in circumstances where the competitors would respond aggressively to an attempted entry.

Accepted Answer

A blocked market is characterized by high entry barriers, often due to government regulations, labor unions, or other interested parties that make it difficult for new competitors to enter.

Deck 9: Services for Business Markets