Exam 10: Transacting Value Pricing Concepts and Strategies : Establishing Value

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The dimension of reliability refers to the knowledge of employees and their ability to convey trust and confidence.

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Write a brief note describing the Gaps Model.

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The residents of Lifelife, a retirement home in Canada, are provided with good care and the volunteers who help them provide complete attention to their needs.The residents are happy with the service being provided to them.The dimension of service on which the retirement home will score high is:

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An event management company specializing in wedding receptions and birthday parties clarifies with clients the services it can actually provide and the number of guests it can handle before taking on an assignment.The company is trying to reduce the communication gap by:

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Explain the term distributive fairness.

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What is the knowledge gap? How can it be reduced?

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Which of the following service dimensions refers to the service provider's ability to perform the service dependably and accurately?

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Firms can close the communication gap by:

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Responsiveness refers to the caring and individual attention provided to the customers.

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The most fundamental difference between a product and a service is that a service is:

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Jennifer compensated for the service failure by:

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Jennifer, who works as a dietician at a gym, checks with customers regarding their food habits and preferences before planning a specific diet chart for them.This specific understanding of the customers' expectations will help her in reducing the gap.

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A daycare at a technology park in Saskatoon enables parents to watch their kids via a CCTV camera by streaming the video via a secure link.This technology helps parents make sure that their kids are comfortable at the daycare.This resource adds to the daycare's services.

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A customer's perception of the benefits he or she received compared with the costs that resulted from a service failure is called:

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Which of the following strategies employed by the resort allowed Jennifer to compensate for the delivery gap?

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Kingfish Systems is a supplier of electronic and computer hardware equipment.The firm is receiving a lot of orders but does not have sufficient staff to track the orders and deliver the goods on time.How can the firm close this delivery gap?

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Which of the following methods used by service providers to reduce delivery gaps gives customers a greater degree of control over the services?

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A local utilities company has setup an online mechanism to pay bills which provides information to customers online so that the customers do not have to drive down to the local office.This service has improved customer satisfaction immensely and encouraged timely payment and resolution of issues.This strategy helps to reduce the company's:

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Craig Jones is a manager at a hotel that is receiving complaints from its customers regarding the services provided.How can Jones reduce this standards gap in his hotel?

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Since a service is produced and consumed at the same time, a car service provider allows customers to decide on the services they want to avail themselves of by providing an opportunity for their customers to get directly involved in the service.Service providers employ these measures while marketing services to overcome the characteristic of services.

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