Term
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Definition
| The result of applying human or mechanical efforts to people or objects. |
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Term
| Why are Services important? |
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Definition
79% of workers are in the service sector and it is 75% to 81% of GDP.
US Service exports will top $650 billion by 2010.
Service occupations will be responsible for nearly all net job growth through 2012.
64 or Fortune's top 100 companies are service companies |
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Term
| How do services differ from goods? |
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Definition
Intangible
Inseparable
Heterogeneous
Perishable |
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Term
| What are the components of service quality? |
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Definition
Reliability
Responsiveness
Assurance
Empathy
Tangibles
Successful entrepreneurs pay attention to service quality. |
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Term
| Define mass customization. |
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Definition
| A strategy that uses technology to deliver customized services on a mass basis. |
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Term
| What is the Service Mix Strategy? |
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Definition
Determine what new services to introduce.
Determine target market.
Decide what existing services to maintain and eliminate.
Use the 4 P's (Price may be time rather than money). |
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Term
| What are some distribution strategy issues? |
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Definition
Convenience
Number of outlets
Direct (internet) or indirect distribution (franchising)
Location (critical for retail)
Scheduling |
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Term
| What are the Bonds that Bind? |
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Definition
Structural Bonds - value added services not available elsewhere.
Social Bonds - Staying in touch with customers
Financial Bonds - pricing focused, delivering good value. |
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Term
| Define Internal Marketing. |
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Definition
Treating employees as customers and developing systems and benefits satisfy their needs.
Good services flows from management to customer through employees. |
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Term
| Define Nonprofit Organization Marketing |
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Definition
| An organization that exists to acheive some goal other than the usual business goals of profit, market share or return on investment. |
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