Exam #3 Study Guide - Marketing 360 Study Guide Exam III I...

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Marketing 360 – Study Guide – Exam III I. Overall Any book material from chapters on services, pricing, placement (distribution) and promotion is potential for questions although the exam will mainly focus on the textbook material that was discussed in the lectures. After you commit the terms, their meanings, and applications to memory, then create scenarios and examples where each term is used. Try to solve the problems these chapters present. The following study guide is not a list of what will be on the exam, rather it is a document that you can use to help you cover many of the most important parts of the chapters. II. Services What are services and service acts? How do services differ from products? Why is it more difficult to market services than products? (hint search, experience and credence attributes). - Services : acts, efforts, or performances exchanged from service producer to consumer - Service acts : a (repeatable) scripted performance (ex: a luau performed every night) - Difference between service & product: service is not tangible, product is - More difficult to market services because hard to ensure they are high quality (as compared to products) Describe the attributes that define services (perishability, inseperability, etc.). How does Marketing communications overcome each of these? - Intangibility : you can’t feel, taste, hear, touch, or see a service-can’t be inspected directly before purchase. Mentally intangible-hard to grasp mentally How to overcome: use servicescape atmospherics, bank vault, lawyers shingle (Sign), great employee uniforms, logo, etc. to give consumers a clear mental picture of the service. - Inseparability : the production and consumption of services are inseparable (the service is produced at the time of consumption, and the customer must be present FTF or virtually when “consuming” the service) To improve quality and reduce cost, try to automate service using a web site or self-service technology - Perishability : services can’t be stored for future usage-empty hotel rooms, airline seats, stylists’ chair-produce no revenue, and revenue is lost Run specials and loyalty programs to increase sales during lull times and off-seasons (perform capacity planning and capacity management) - Variability of Service quality : not reliable/repeatable. You can’t mass produce services so quality varies (different cooks at restaurant produce better/worse food on different days) How do consumers judge service quality? Hint: Servicescape, etc. - Reliability (most important): dependable, accurate, consistent repeatable service - Responsiveness : ability to provide fast custom service
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- Assurance : knowledgeable and courteous employees who earn our trust - Tangibles (atmospherics): physical facilities, tools, equipment used to provide service - Empathy : caring, individualized attention to the customer Describe the gap model of service quality (what are the gaps?), the critical incidents technique to improving service quality and the dimensions of SERVQUAL.
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