CSUF MKTG 351 Final Exam Questions and Answers 100% Pass

Importance of services to the economy - 55% of all US GDP - 10 out of 11 service sectors increased their revenue last year - Largest gains from Internet and Broadcasting: Google Facebook, Pandora, Spotify, SiriusM --- Interpublic Group - One of the largest How services differs from groups - Intangible - Inseparable - Heterogeneous - Perishable Intangible --- Services cannot be touched, seen, tasted, heard, or felt in the same way as goods. Tangible cues are often used to communicate a service's quality and nature. Facilities are a critical tangible part of a service. --- Makes it harder to communicate benefits Inseparable -Producing and Consuming simultaneously-- Services are often sold, produced and consumed at the same time. -- Consumers are involved in the production of the Services they buy. -- Consumer takes part in production Heterogeneus -- Services are less standardized and uniform than goods. -- Because services tend to be labor-intensive, consistency and quality can be hard to achieve. -- Standardization and training help increase consistency and reliability -- Depend on employees for quality --- Hard to achieve consistency Perishable -- Services cannot be saved, stored, warehoused, or inventoried -- One of the most important challanges in many service industries is finding ways to synchronize supply and demand Service Quality -- Researches have shown that customers evaluate service quality by five components -- Service quality is more sifficult to define and measure than is the quallity of tangible goods. -- Business executives rank the improvement of service quality as one of their most critical challanges.Components of Service Quality - Reliabilit