MARK 3000 - Chapters 2,8,13 - Grantham UGA Exam Questions With Correct Answers.
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MARK 3000 - Chapters 2,8,13 - Grantham
UGA Exam Questions With Correct
Answers.
Services - answerAny intangible offering that involves a deed, performance, or effort that
cannot be physically possessed.
Intangible customer benefits that are produced by people or machines and cannot be separate...
MARK 3000 - Chapters 2,8,13 - Grantham
UGA Exam Questions With Correct
Answers.
Services - answer✔✔Any intangible offering that involves a deed, performance, or effort that
cannot be physically possessed.
Intangible customer benefits that are produced by people or machines and cannot be separated
from the producer.
Customer Service - answer✔✔Specifically refers to the human or mechanical activities firms
undertake to help satisfy their customers' wants and needs.
Intangible - answer✔✔A characteristic of a service; it cannot be touched, tasted, or seen like a
pure product can.
Inseparable - answer✔✔A characteristic of a service; it is produced and consumed at the same
time, that is service and consumption are inseparable
Heterogeneity - answer✔✔As it refers to the differences between the marketing of products and
services, the delivery of services is more variable
Perishable - answer✔✔A characteristic of a service; it cannot be stored for use in the future
Service Gap - answer✔✔Results when a service fails to meet the expectations that customers
have about how it should be delivered
Knowledge Gap - answer✔✔A type of service gap which reflects the difference between
customer's expectations and firm's perception of those expectations.
Standards Gap - answer✔✔A type of service gap which pertains to the difference between the
firm's perceptions of customer's expectations and the service standard it sets.
Delivery Gap - answer✔✔A type of service gap which is the difference between the firm's
service standards and the actual service it provides to customers.
Communication Gap - answer✔✔A type of service gap which refers to the difference between
the actual service provided to customers and the service that the firm's promotion program
promises.
Service Quality - answer✔✔Customer's perceptions of how well a service meets or exceeds their
expectations
Voice-of-Customer Program (VOC) - answer✔✔An ongoing marketing research system that
collects customer inputs and integrates them into managerial decisions.
Distributive Fairness - answer✔✔Pertains to a customer's perception of the benefits he or she
received compared with the costs that resulted from a service failure.
Procedural Fairness - answer✔✔Refers to the customer's perception of the fairness of the process
used to resolve complaints about service.
Globalization - answer✔✔Refers to the processes by which goods, services, capital, people,
information and ideas flow across national borders.
Trade Deficit - answer✔✔Results when a country imports more goods than it exports
Trade Surplus - answer✔✔Occurs when a country exports more than it imports
Gross Domestic Product (GDP) - answer✔✔Defined as the market value of the goods and
services produced by a country in a year; the most widely used standardized measure of output.
Gross National Income (GNI) - answer✔✔Consists of GDP plus the net income earned from
investments abroad. (Minus any payments made to nonresidents who contribute to the domestic
economy)
Purchasing Power Parity (PPP) - answer✔✔A theory that states that if the exchange rates of two
countries are in equilibrium, a product purchased in one will cost the same in the other,
expressed in the same currency.
Infrastructure - answer✔✔The basic facilities, services, and installations needed for a
community or society to function, such as transportation and communications systems, water and
power lines and public institutions like schools, post offices, and prisons.
Tariff - answer✔✔A tax levied on a good imported into a country.
Duty - answer✔✔What is another name for a tariff?
Quota - answer✔✔Designates the maximum quantity of a product that may be brought into a
country during a specified time period.
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