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

An old-age home has provided bicycles to its inhabitants to help them move around the grounds.However, the residents are not keen on using this service and prefer to use golf carts instead.This is an example of the gap.

An electronics retail chain allows its front-line employees to make adjustments in day-to-day activities based on the needs of the customers across its outlets in various locations.This approach will help the firm in reducing the:

Service providers at a hair salon noticed that most customers prefer reading fashion magazines.The salon then decided to subscribe to many more fashion magazines and cancel their subscription to other non-fashion magazines.This approach shows that the salon is trying to reduce the:

The inconsistent nature of services can be used by marketers to their advantage.

The dimension of responsiveness used by customers to determine overall service quality refers to the:

The managers of firms can reduce the service gap by providing consistent support and incentives to service providers.

Jane prefers to visit a particular hair salon because of its skilled hair stylists who are friendly and have gained her trust by providing good service during her previous visits.The service dimension influencing Jane's decision to stick to the same service provider is:

The service dimension that refers to the knowledge of and courtesy by employees and their ability to convey trust and confidence is called:

When service providers state that services are produced and consumed at the same time, they are referring to the fact that services are:

Firms can close the knowledge gap by:

Dr.White is experienced and is regarded as highly knowledgeable.Patients prefer to consult him as he instills faith and confidence in them.The dimension of service influencing the decision of patients in this scenario is:

The term inseparable refers to that characteristic of service which states that:

The knowledge gap pertains to the difference between the firm's perceptions of customers' expectations and the service standards it sets.

A beach resort has state-of-the-art barbeque equipment and an experienced cook to serve grilled food to customers.However, many customers feel that the grilled food does not always taste the same, even though the cook uses the same technique.Which of the following service characteristics is best demonstrated in this scenario?

The Gaps Model is designed to prescribe the steps needed to develop an optimal service strategy.

Most customers allotted a high importance score for the reliability dimension.This shows that most of the customers give importance to:

The caring, individualized attention provided to customers is referred to as , a dimension used by customers to determine overall service quality.

A fast-food outlet provides home delivery.When Chris calls to place an order, the restaurant informs him that delivery of the order will be delayed because of a delivery staff shortage.This strategy helps them close the gap in their services.

The delivery gap differs from the communication gap in that the communication gap refers to the difference between:

Joanne bought a gift for her friend's birthday from an online website.The service provider failed to deliver the gift on the day it had promised.The service provider provided coupons to Joanne a week later, which she could use to make more purchases online from them.The service recovery strategy that the service provider used in this instance was: