Final Exam (Ch 1-8 & 11-13) fully
solved
Who are we dealing with? - correct answer ✔✔Consumer, Customer, Client and Guest
External Marketing - correct answer ✔✔Direct marketing efforts by company to create
customer value (e.g., advertisement)
Internal Marketing - correct answer ✔✔The service firm must effectively train and motivate
customer contact employees
Interactive Marketing - correct answer ✔✔The perceived service quality depends heavily upon
the buyer-seller interaction during the service encounter.
Service Encounter - correct answer ✔✔- The interaction(s) between the customer and the
service provider.
- The guest's evaluation of service experience at the service encounter
- Can make or break the entire guest experience
-Moment of truth
- Service relationship
What is service? - correct answer ✔✔Tangible & Intangible
Intangibility - correct answer ✔✔-Services cannot be seen, tasted, felt, heard or smelled before
purchase.
,-Customers leave with experiences and memories to share with others.
-To reduce uncertainly caused by service intangibility --> provide tangible cues and evidence.
Perishability - correct answer ✔✔-Services cannot be stored for later sale or use.
-Temporary ownership for customers
-Rooms and empty seats cannot be stored
-Yield Mgmt have been developed because of service perishability.
Inseperability - correct answer ✔✔-Services cannot be separated from their providers
-Customer-contact employees are part of the product
-Customers are part of the product as well
-Employees and customers are co-producing the service.
Variability/Heterogeneity - correct answer ✔✔-Quality of services depends on who provides
services and when and where they are provided.
-Lack of consistency --> source of customer disappointment
-Unique and personalized service experience --> source of customer satisfaction
- Customization vs. Standardization
Service Product + Service Setting + Service Delivery System = - correct answer ✔✔The Guest
Experience
First time customers: - correct answer ✔✔General Expectations (advertisement, referrals,
tangible cues, proxy experiences)
Repeated customers: - correct answer ✔✔specific expectations (their own experiences)
, Service Success - correct answer ✔✔Expectations are met (satisfied customers)
Service Failure - correct answer ✔✔When expectations are not met (dissatisfied customers)
Guestrology - correct answer ✔✔Treating customers like guests and manage the organization
from the guest's POV
Porter's 3 Generic Positioning Strategies - correct answer ✔✔1) Lower Price
2) Differentiated Product
3) A special niche
External (environmental assessment) - correct answer ✔✔-Opportunities and threats
- Overall enviroment (Economy, society, demographics, ecology, politics, technology, etc)
Strategic Premises - correct answer ✔✔The beliefs of the managers asking all long-term aspects
of the enviroment and use them to discover what customer will want in that future enviroment.
Core Competencies - correct answer ✔✔Things a firm does extremely well (strengths), which
sometimes give it an advantage over its competition
Competitive Advantage - correct answer ✔✔The result of a company's matching a core
competency to opportunities in the market place.
Vision Statement - correct answer ✔✔Describes what the organization should look like in the
future and what significant contributions it expects to make.
Mission Statement - correct answer ✔✔Expresses the reason for which the organization was
created and exists.