Question 1

Which of the following statements regarding service branding is MOST accurate?

Accepted Answer

Service firms with a well-established brand reputation will find it easier to introduce new services than firms without a brand reputation because consumers are more likely to trust and be loyal to a brand they already know and have had positive experiences with. This can result in a lower perceived risk for consumers when trying new services offered by the same brand.

Question 2

Relationship marketing provides several benefits for service customers,including: (1)the continuity of a single provider; (2)customized service delivery; (3)__________; and (4)an absence of switching costs.

Accepted Answer

Relationship marketing provides reduced stress due to a repetitive purchase process for service customers, meaning that they do not have to continuously search for a new provider and can rely on the same provider for their needs.

Question 3

tool available for services when trying to balance demand is __________.

Accepted Answer

Off-peak pricing is a tool that allows services to balance demand by offering lower prices during periods of low demand to encourage uptake of the service, thus reducing the imbalance between demand and supply. This helps to even out the flow of customers and balance the workload for the service provider. The other options listed are not effective tools for balancing demand for services.

Question 4

use of brand names is especially important for services because of which unique characteristic of services?

Accepted Answer

The unique characteristic of services that makes the use of brand names especially important is intangibility. Services are intangible in nature, which means that they cannot be seen, touched, or felt like products. Brand names play a significant role in building consumer trust and loyalty, which is crucial for the success of service-based businesses. Inseparability, inconsistency, and invisibility are also important characteristics of services, but they do not directly relate to the importance of brand names.

Question 5

Relationship marketing provides several benefits for service customers,including: (1)the continuity of a single provider; (2)customized service delivery; (3)reduced stress due to a repetitive purchase process; and (4)__________.

Accepted Answer

The answer of Relationship marketing provides several benefits for service...

Question 6

Relationship marketing provides several benefits for service customers,including: (1)__________; (2)customized service delivery; (3)reduced stress due to a repetitive purchase process; and (4)an absence of switching costs.

Accepted Answer

Relationship marketing emphasizes building long-term relationships with customers, which means that service providers will strive for the continuity of a single provider. This brings benefits to customers such as consistent quality, personalized service, trust, and familiarity. It reduces the need for customers to compare and evaluate alternatives, and it also reduces the cost and stress associated with switching providers. However, this is not achieved through discounted switching costs, implied warranties, or government guidelines.

Question 7

Which of the following statements about service failures is MOST accurate?

Accepted Answer

Research has shown that only a small percentage (usually between 5-10%) of dissatisfied customers choose to complain directly to the company. Instead, they may tell friends and family or leave negative reviews online.

Answer: False
 While customers may have specific demands when they complain, research has shown that most customers are simply seeking an apology and a resolution to their issue.

Answer: False
 While some customers may not give a company a second chance if they have a negative experience, research has shown that the majority of customers are actually willing to forgive and give a company another chance if their issue is resolved quickly and effectively.

Answer: True
 Studies have consistently found that people are more likely to share negative experiences than positive ones, often telling twice as many people about a bad service experience as they do about a good one.

Answer: False
 Social media can be a valuable tool for monitoring and responding to customer complaints, as it provides a public platform for addressing complaints and also allows companies to identify trends or recurring issues.

Question 8

customers buy services,they also consider nonmonetary costs,such as the __________ and __________ efforts required to consume the service.

Accepted Answer

When customers buy services, they not only consider monetary costs but also nonmonetary costs, such as the mental and physical efforts required to consume the service. Emotional, psychological, physical, moral, and ethical efforts do not accurately describe nonmonetary costs.

Question 9

While there are 4 Ps of marketing,there are __________ Ps of services.

Accepted Answer

The 7 Ps of services marketing include the original 4 Ps (Product, Price, Place, Promotion) plus People, Process, and Physical Evidence, which are essential for service-based businesses.

Question 10

Which of the following statements about relationship marketing is most accurate?

Accepted Answer

Relationship marketing is about building long-term relationships with customers through personalized communication and interactions. The service encounter provides a chance to develop social bonds with customers and create a positive experience that will encourage them to come back again. Option A is incorrect because the number of encounters can vary depending on the nature of the service. Option C is only one example of an incentive, and not necessarily the best one for creating a loyal relationship. Option D is incorrect because while the customer benefits from the relationship, the organization also benefits by retaining loyal customers. Option E is incorrect because while price may be a factor, the main focus in relationship marketing is on creating value and building trust.

Question 11

Which of the following is the most important aspect conveyed by the FedEx brand?

Accepted Answer

The most important aspect conveyed by the FedEx brand is differentiation and an image of quality. FedEx is known for its reliable, fast, and efficient delivery service, which sets it apart from its competitors. The brand has also been able to maintain a high level of consistency in its service, which reinforces its image of quality.

Question 12

Tuition,charges,fares,and rates are all

Accepted Answer

Tuition, charges, fares, and rates are all different names given to the price of services. They are not euphemisms for the name "price," nor are they interchangeable. They also do not specifically refer to the intangible portion of the price of a service. Additionally, while these terms may imply a higher quality product, this is not their primary purpose.

Question 13

Because of the intangible nature of services,consumers often perceive price as a possible indicator of __________ of the service.

Accepted Answer

Since services are intangible, it can be difficult for consumers to evaluate their quality before purchasing. As a result, they often rely on the price as an indicator of the level of quality they can expect. This means that a higher price may suggest a higher quality service, while a lower price may suggest a lower quality service. Therefore, consumers often perceive price as a possible indicator of the quality of the service.

Question 14

Recent surveys of consumers have indicated that while customers of many services are interested in being "relationship customers," they require that the relationship be balanced in terms of

Accepted Answer

The survey indicates that customers require a balanced relationship that includes loyalty (on both sides), benefits (e.g. rewards programs), and respect for privacy (i.e. not being bombarded with unwanted marketing messages). While honesty, integrity, and empathy are important aspects of any relationship, they are not mentioned as being essential for customers in this particular survey. The same can be said for financial benefits, product benefits, and preferential treatment, which may be desirable but are not explicitly listed as requirements for a balanced relationship. Option B, therefore, is the closest match.

Question 15

expanded marketing mix for services that includes the four Ps (product,price,promotion,and place or distribution)as well as people,physical environment,and process,is referred to as the __________.

Accepted Answer

The expanded marketing mix for services that includes the four Ps as well as people, physical environment, and process is referred to as the seven Ps of services. This expanded mix is specific to services because services are intangible and require additional factors to be considered in their marketing.

Question 16

Which of the following statements regarding service branding is MOST accurate?

Accepted Answer

Due to the intangibility of services, branding becomes even more important as customers rely on brand names and logos to understand what services are being offered and what they can expect from those services.

Question 17

FedEx brand suggests the possibility that it is government sanctioned and fast.This perception is important because of which unique characteristic of services?

Accepted Answer

The unique characteristic of services referred to in the question is intangibility, which means that services cannot be seen, tasted or touched before they are purchased. As a result, customers rely heavily on the brand name and overall image of the service provider to evaluate the quality of service they can expect to receive. In the case of FedEx, the brand suggests that the service is government-sanctioned and fast, which helps to establish trust and confidence with customers who are looking for a reliable and efficient delivery service.

Question 18

of the following comprise the seven (7)Ps of services marketing EXCEPT:

Accepted Answer

The seven Ps of services marketing are product, process, people, physical environment, promotion, price, and place. Profitability is not one of the Ps.

Question 19

Tuition,charges,fares,and rates are all

Accepted Answer

Tuition, charges, fares, and rates are all names given to the price of services. They refer to different types of services and industries but ultimately all represent the cost or amount paid for a particular service.

Question 20

public relations experts agree that it is best for a company to ___________ comments about it on the Internet.

Accepted Answer

Responding to comments about a company on the Internet is crucial for effective reputation management. Ignoring comments can worsen the situation, and arguing with them can create an online conflict that can damage the company's reputation. Blogging about company-related issues is also not always the best option since it may not directly address the concerns of the commenters. Therefore, the best choice is to respond to comments in a thoughtful, empathetic, and professional manner. This can help the company address any negative feedback and show that it cares about its customers' concerns. Choosing option E (consider) is vague and doesn't provide a clear course of action, making it a weak choice.

Quiz 12: Services Marketing

Which of the following statements regarding service branding is MOST accurate?

Relationship marketing provides several benefits for service customers,including: (1) the continuity of a single provider; (2) customized service delivery; (3) __________; and (4) an absence of switching costs.

tool available for services when trying to balance demand is __________.

use of brand names is especially important for services because of which unique characteristic of services?

Relationship marketing provides several benefits for service customers,including: (1) the continuity of a single provider; (2) customized service delivery; (3) reduced stress due to a repetitive purchase process; and (4) __________.

Relationship marketing provides several benefits for service customers,including: (1) __________; (2) customized service delivery; (3) reduced stress due to a repetitive purchase process; and (4) an absence of switching costs.

Which of the following statements about service failures is MOST accurate?

customers buy services,they also consider nonmonetary costs,such as the and efforts required to consume the service.

While there are 4 Ps of marketing,there are __________ Ps of services.

Which of the following statements about relationship marketing is most accurate?

Which of the following is the most important aspect conveyed by the FedEx brand?

Tuition,charges,fares,and rates are all

Because of the intangible nature of services,consumers often perceive price as a possible indicator of __________ of the service.

Recent surveys of consumers have indicated that while customers of many services are interested in being "relationship customers," they require that the relationship be balanced in terms of

expanded marketing mix for services that includes the four Ps (product,price,promotion,and place or distribution) as well as people,physical environment,and process,is referred to as the __________.

Which of the following statements regarding service branding is MOST accurate?

FedEx brand suggests the possibility that it is government sanctioned and fast.This perception is important because of which unique characteristic of services?

of the following comprise the seven (7) Ps of services marketing EXCEPT:

Tuition,charges,fares,and rates are all

public relations experts agree that it is best for a company to ___________ comments about it on the Internet.