HFT Exam 1 Questions with Correct Answers Latest Update 2025/2026
Servitization means
hiring a servant
using service offers to add value to the core product
a process of establishing a service-oriented company
a name of evolving industry with customer being a focal point
none of above - Answers using service offers to add value to the core product
Which one is an example of a peripheral service?
car washing service in a petrol station
wifi connection on a flight
anything offered for free together with the core product
a and b only
all of above - Answers a and b only
Service management is a multidisciplinary field that relies on:
consumer behavior
marketing
,operations
human resource management
all of above - Answers all of above
Which one of the following statements is true?
primary needs are fulfilled through peripheral services
secondary needs are fulfilled through core services
primary needs are fulfilled through core services
peripheral services may compensate for poor core services
c and d only - Answers primary needs are fulfilled through core services
If you visit the hairdresser and are offered a cup of coffee or tea while you are waiting, this is:
an intangible core
a tangible core
an intangible peripheral
a tangible peripheral
none of the above - Answers a tangible peripheral
Which statement is true for service bundles?
,service bundles is a set of unrelated services
bundles exist only within the tourism industry
bundle means a network of services offered by the same service provider
bundling is a cross-functional system
c and d only - Answers bundling is a cross-functional system
Which of the following firms gained their advantage through a unique service concept?
Southwest Airlines
Ikea
Dell
Starbucks
all of the above - Answers all of the above
Which statement is true for services?
first comes consumption, then production
first comes production, then consumption
first sold, then produced and consumed simultaneously
either production or consumption occurs, but never both
, services can only be consumed - Answers first sold, then produced and consumed
simultaneously
When family income increases,
the percentage spent on education, health, and entertainment increases rapidly
the percentage spent on food increases
the percentage spent on beverages remains the same
the percentage spent on household items decreases
all of the above - Answers the percentage spent on education, health, and entertainment
increases rapidly
Which of the statements is true for bundles?
they include core and peripherals
they may include tangibles and intangibles
they can help the firm to serve different customer groups
they can help a company distinguish itself from the competition
all of above - Answers all of above
What has had the most impact on the economic growth of today's service industry?
information technology
quality
Servitization means
hiring a servant
using service offers to add value to the core product
a process of establishing a service-oriented company
a name of evolving industry with customer being a focal point
none of above - Answers using service offers to add value to the core product
Which one is an example of a peripheral service?
car washing service in a petrol station
wifi connection on a flight
anything offered for free together with the core product
a and b only
all of above - Answers a and b only
Service management is a multidisciplinary field that relies on:
consumer behavior
marketing
,operations
human resource management
all of above - Answers all of above
Which one of the following statements is true?
primary needs are fulfilled through peripheral services
secondary needs are fulfilled through core services
primary needs are fulfilled through core services
peripheral services may compensate for poor core services
c and d only - Answers primary needs are fulfilled through core services
If you visit the hairdresser and are offered a cup of coffee or tea while you are waiting, this is:
an intangible core
a tangible core
an intangible peripheral
a tangible peripheral
none of the above - Answers a tangible peripheral
Which statement is true for service bundles?
,service bundles is a set of unrelated services
bundles exist only within the tourism industry
bundle means a network of services offered by the same service provider
bundling is a cross-functional system
c and d only - Answers bundling is a cross-functional system
Which of the following firms gained their advantage through a unique service concept?
Southwest Airlines
Ikea
Dell
Starbucks
all of the above - Answers all of the above
Which statement is true for services?
first comes consumption, then production
first comes production, then consumption
first sold, then produced and consumed simultaneously
either production or consumption occurs, but never both
, services can only be consumed - Answers first sold, then produced and consumed
simultaneously
When family income increases,
the percentage spent on education, health, and entertainment increases rapidly
the percentage spent on food increases
the percentage spent on beverages remains the same
the percentage spent on household items decreases
all of the above - Answers the percentage spent on education, health, and entertainment
increases rapidly
Which of the statements is true for bundles?
they include core and peripherals
they may include tangibles and intangibles
they can help the firm to serve different customer groups
they can help a company distinguish itself from the competition
all of above - Answers all of above
What has had the most impact on the economic growth of today's service industry?
information technology
quality
