...Management) 2nd Year Services Marketing Maximum Marks: 70 Duration: 03 Hours Instructions: 1. This paper is divided into 3 sections – A, B and C. 2. Section A consists of 10 questions of 1 mark each. All questions in Section A are compulsory. 3. Section B consists of 7 questions of 3 marks each. You must attempt ANY FIVE questions. 4. Section C consists of 5 questions of 15 marks each. You must attempt ANY THREE questions. ------------------------------------------------------------------------------------------------------------------------------- SECTION – A (All questions are compulsory) Write short notes on the following: 1. Word of Mouth 2. Service marketing triangle 3. Service channel 4. Supplementary services 5. Service Quality 6. Service Encounter 7. 7 P’s 8. New product Development 9. Packaging of Services 10. Service Perishability SECTION – B (Attempt any five questions) 11. Explain in detail the impact of technology in services. 12. Discuss the characteristics of service marketing. 13. Explain, how can the various gaps of service quality be closed? 14. Write a note on the marketing management of financial services. 15. Discuss the difference between perception of service quality and customer satisfaction. 16. What are the steps involved in preparing Blue Print? 17. Explain the factor affecting pricing of services. SECTION – C (Attempt any three questions) 18. Explain the characteristics of services. 19. Write in detail the...
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...A service guarantee is a promise that a service or product will meet certain consumer expectations or standards. Many times it is provided to the consumer in writing. If the product fails to perform as promised, the vendor may offer replacement of the item, refund the purchase price, or offer other forms of reimbursement, like a store credit. The purpose of it is to instill consumer confidence. The type of promise that a merchant makes may differ, depending on the product or service. It is not uncommon for a service guarantee to be predicated on the consumer meeting specific terms and conditions. This places some of the responsibility on the customer. Stipulations to a service guarantee may prohibit tampering with a product or require that certain maintenance schedules are followed. It may also outline what the consumer is required to do in order to prevent the malfunction of a product. If the specified conditions are not met, the service guarantee may be voided. Conditional agreements often apply to automobile warranties. For example, a serviceguarantee for an engine may require scheduled maintenance at regular intervals, such as changing the oil change every three months. If the engine were to malfunction as a result of the oil not being changed on schedule, the service guarantee could be canceled. It is important for a customer to follow the provisions provided. | ...
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... * 1. Definition of credit crunch * A credit crunch is a sudden reduction in the general availability of loans (or credit ) or a sudden tightening of the conditions required to obtain a loan from the banks . * A credit crunch generally involves a reduction in the availability of credit independent of a rise in official interest rates . * 2. Background of Credit crunch. ------------------------------------------------- 2008 the financial crisis took place in USA.In order to stimulate China's economic development, the government issued a series of economic policy including a 4 trillion investment plans, reducing deposit and lending rates to response to the crisis.In the good development of domestic economic, the international capital markets has an good expectation on China's economy,so they invest a large number of international capital to China,...
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...– BUS 430 January 29, 2012 Lens Crafters Analysis Identifies three key characteristics of LensCrafters at each of the following three levels (for a total of nine). a. CBP, strategy and competitive priorities b. Service delivery system design, and c. Service encounter design LensCrafters’ mission statement is focused on being the best by creating customers for life by delivering legendary customer service, developing and energizing associates and leaders in the world’s best work place, crafting perfect-quality eyewear in about an hour, and delivering superior overall value to meet each customer’s individual needs. (Evans, 2011 second ed) LensCrafters is committed to loving eyes by being: * Passionate-Truly love taking care of people’s eyes * Progressive-Strive to constantly improve every aspect of the vision care experience * Personal-Put the customer first, and seek to connect with them on a long-term relationship basis * Straightforward-Being honest, transparent and upfront with you. Their Customer Benefit Package Design Configuration is the integrated set of goods (eyewear) and services (accurate eye exam and one-hour service) are of equal importance. LensCrafters is a trusted household name across North America, known for providing convenient access to eye exams, a wide choice of frames and lenses, one-hour service, attractive prices, an unconditional 30-day guarantee, fashion and luxury eyewear, and more. With the original store opening in 1983...
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...LensCrafters is the largest optical chain in the United States, and has expanded to over 850 stores in Canada, the United States, and Puerto Rico. Operation Strategy and Competitive Priorities Being focused as the leader in the industry LensCrafters mission statement has been driven to create customers for life. They continue to lead with exceptional customer service with energizing associates, training exceptional customer service personnel and being the world’s leader for the best place to work. The technicians are skillful in perfect-quality eyewear in about an hour and drive to deliver outstanding overall value to meet each individual customer’s needs. LensCrafters is embodied in a list of core values that include nurturing individuals; building on people’s strengths; accepting and learning from mistakes; focusing on winning, not individual scoring; pushing breakthrough ideas; thinking and acting like a long-term owner; demanding highest possible quality; constantly, measurable improving; and acting with uncompromising integrity. (Bolton, 1990). The customer benefit package is the integrated set of goods and services. This is a wide range of...
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...Grub n’ Go Part III MKT/421 September 19, 2011 Amber Topping As a unique food delivery service organization, Grub N’ Go sets itself apart from the rest of the competition through its highlighted attributes of restaurant-quality food delivery and customer priority service. Just as any other organization, Grub N’ Go starts life in the product life cycle as an idea and flows into the business it is now. In order for the company to continue growing, certain positioning and differentiating strategies must be implemented for the service and how to apply the pricing for deliveries and marketing. Grub n’ Go’s service is simple; food delivery. The attributes or characteristics of Grub n’ Go’s service are variety, value, timely, and friendly. Grub n’ Go will offer a variety of food from numerous restaurants delivered for a reasonable service fee in a timely manner by a friendly staff. In the market of food delivery service customers have many choices from restaurants that offer delivery; however, the delivery is only for one particular restaurant’s food. In traditional food delivery customers are limited to the restaurant’s menu and if a restaurant does not offer delivery service dine-in, carry-out, or choose another restaurant is the choices for the customer. One of the main attributes of Grub n’ Go is the ability to order from multiple restaurants and receive delivery to one location. Grub n’ Go can partner with numerous restaurants to bring a variety of choices to consumers...
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...Introduction Service recovery is now recognized as a significant determinant of customer satisfaction and loyalty. As a result, stabilizing the endangered relationship with dissatisfied customers by using the effective service recovery strategies and procedures became the main focus of much customer retention to improve the competitive advantage of the hospitality organizations. In this research paper, we firstly indicate the unambiguous interpretation and crucial role of service recovery in hospitality industry. Therewith the paper point out the predict variables of service recovery which means the possible factors having great impact on the effectiveness of employee’s service recovery performance. Furthermore, the paper indicates the road to the effective service recovery which shows the viewpoints such as the customer-oriented commitment, empower the front-line employee and how to make brilliant recoveries. All of these statements are based on the numerous authority investigations with the real cases existing in today’s hospitality industry. The paper also discuss the failure prevention and service guarantees which are closely related to service recovery and introduce the dominant point “prevention is better than cure” . The goal of this article is able to help the hospitality firms develop better complaint handling policies, improve recovery procedures and recovery training, increase customer loyalty and ultimately improve their competitive advantage. ...
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...Chapter-1 SUMMERY Services means- Services are deeds, processes and performances. For example, Intel officers repair services for its equipments, consulting services for IT and E-commerce applications, web design services and training services for mass people. All these are deeds, processes and utilities comprise primary deeds and actions performed for customers. Compatible with this simple definition, services include economic activities whose output is not a physical product, are generally consumed at the time they are produced, provide added value in the form of amusement, comfort and convenience etc. and are essentially intangible concerns of the first purchaser. Difference between Service and customer service Services are deeds, processes, performances, and performances of a wide range of industries. Customer service is the service provided in support of a company’s core products. Customer services includes answering questions, taking orders, dealing with billing issues, handling complaints and scheduling repairs or maintenance. Why service marketing is essential for: Service based economy: Service marketing concepts and strategy developed in response to the tremendous growth of service industries, resulting their increased importance to the world economy. Service as a business imperative in manufacturing and IT: Early in the development of service, marketing most of the interest came from service industries like banking and health care. Now manufacturing and IT industries...
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...Communication Research Com3706 Portfolio Assignment Task 5.10 Semester two 2013 Table of contents TABLE OF CONTENTS INTRODUCTION 1 1MAIN ISSUE 1 2RESEARCH CRITERIA 1 3EXTENT OF THE RESEARCH ISSUE 2 4 POPULATION 2 5 ASSUMPTIONS AND SUB-PROBLEMS 3 6 GOAL AND OBJECTIVES 3 7 RESEARCH QUESTIONS 4 8 THEORETICAL APPROACH 4 9 RESEARCH DESIGN 7 CONCLUSION 8 SOURCES CONSULTED 8 ADDENDUM A: SELF-REFLECTION9 INTRODUCTION In this assignment the nine creative characteristics in eight different advertisements, will be explored and describe by means of content analysis. 1MAIN ISSUE Explore and describe, by means of qualitative and quantitative content analysis, the characteristics of nine creative concepts and their creative application in eight different adverts, found in two different publications: cross sectional. 2RESEARCH CRITERIA Relevance: Advertising is directly related to marketing, which makes the issue relevant to communication science. Researchability: The issue can be researched by collecting and exploring the creative concepts of eight different advertisements from two different magazine or newspaper publications. Feasibility:The investigation is feasible as there are not many resources necessary, and it is easy and inexpensive to purchase two magazine or newspaper publications. Ethical acceptability: The research deals with eight advertisements from two publications, it will therefore be ethically acceptable because no...
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...INTRODUCTION TO COMPANY A company can be defined as a group of persons associated together for the purpose of attaining a common object, social or economic. Normally it is formed to carry on business with a view to earn profit. Also a company can be defined as an association of many persons who contribute money or money’s worth to a common stock and employ it in some trade or business and who share the profit and loss therefore. Characteristics of the Company 1: Artificial Legal person. A company is an artificial because it is a creation of law. It does not take birth like a natural person but comes into existence through law. It has to act through a board of directors elected by shareholders. The board of directors are the brain and the only brain of the company which is the body of the company and the company can and does act only through them. 2: Common seal. A company being an artificial person can not sign documents. The law therefore has provided for the use of a common seal with the name of the company engraved on it as a substitute for its signature. No document issued by the company shall be binding on it unless it bears the common seal which is duly witnessed by at least two directors of the company. 3: Transferability of shares. Members of public limited company are free to transfer the shares held by them to anybody. Shares can be sold and purchased through the stock exchange. However in a private company such transfer may be restricted by the...
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...Flexibility 6. Innovation and Learning 7. Productivity and Operational Efficiency 8. Sustainability Exhibit 3.1 The Scope of Business and Operations Performance Measurement Measurement is the act of quantifying the performance criteria (metrics) of organizational units, goods and services, processes, people, and other business activities. Good measures provide a “scorecard” of performance, help identify performance gaps, and make accomplishments visible to the workforce, the stock market, and other stakeholders. Financial Measures • Often take top priority in for-profit organizations. • Traditional financial measures include revenue, return on investment, operating profit, pretax profit margin, asset utilization, growth, revenue from new goods and services, earnings per share, and other liquidity measures. Customer and Market Measures • Customer measures: Customer satisfaction, customer retention, gains and losses of customers and customer accounts, customer complaints, warranty claims, measures of perceived value, loyalty, positive referral, and customer relationship building. − A customer-satisfaction measurement system provides a company with customer ratings of specific goods and service features, and indicates the relationship between those ratings and the customer’s likely future buying behavior. • Market measures: Market share, business...
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...Nanyang Business School Nanyang Technological University Marketing assignment Introduction Needless to say, value proposition, market segmentation, differentiation and positioning are closely related concepts and play an indispensable role in marketing strategy of any companies. But more importantly, businesses must decide how they can apply these concepts in their situations, because using mechanically without research can lead them to terrible results. All of the issues related to these concepts discussed in the article “Being unique is good, isn’t it?” by C.J. Hayden brought to us challenges which businesses have to take into account when implementing their marketing strategies. Challenges related to marketing concepts In this article, the author mentioned two main challenges which affect companies’ decisions in marketing. The first challenge starts with a question: “These are all reasons why being different can be good. But how different should you be?”. After that the authors illustrated his question by providing an example of failure strategy when a student decided to advertise for management consultants in his local Yellow Pages and no customers came to him. All of us know that differentiation is “distinguishing our offerings from competitors to attract potential customers” (Wikipedia). The student in this case chose a special way to stand out in management consultants market, but why was he failed? The answer is, he did not find out the reason why other companies...
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...Retail Channel Manufacture => Retailer => consumer Manufacture is one of the retail channel of Tesco. There are making big size of goods by machines. Normally manufactured goods are different with other similar goods and sold under some particular brand name. Manufacture put their product at Tesco and let them sell. Example, Nestle company, they put their company brand item (coffee) in Tesco and let them sell. Not only that, Tesco also is one of the manufacture because they having their own brand item and selling in a low price with good quality. Example: Tesco brand Fresh Milk, Tesco brand Choice Strawberry Yoghurt Drink and so on. Retailer also is one of the retail channel of Tesco. Retailer is a person who selling goods to consumer. Tesco selling all type of item and not only Tesco brand item. They will sell other brand item. Example: Tesco selling Panasonic brand cooling fan, Cutie Compact Twin Ply Tissue and so on. Lastly, retail channel of Tesco have consumer. Consumer is the person who purchases goods for personal use. Customers are the final consumer after purchases at Tesco store. Example: I buy a Cha cho's BBQ Bonanza Tortilla Corn Chips at Tesco store for own use so I’m the final consumer. Retail location First Tesco store opened in Malaysia in May 2002. The first hypermarket opened in Puchong, Selangor. There are currently operated 49 Tesco and Tesco Extra stored in Malaysia. Local conglomerate Sime Darby Berhad has partner with Tesco which holds 30%...
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... The key reason that the consumers want to purchase our product is because of the various functions that Evolution Glasses hold, such as camera, MP3 player, and use of Internet etc. When purchase the glasses, they are not only buying the features that they have but also memories, health benefits and the convenience. The lenses are polarized and photochromic, which darken when expose to ultraviolet radiation. This is for the advantage of indoor and outdoor activities. Evolution Glasses can detect eye movements to activate a particular function using a special system called eye-D, originated by Samsung. E.g. winking eyes twice will turn on the camera; winking left eye once to select contacts and repeat the same action again to make a call. Buyers are able to obtain a vast amount of information as well as distributing it among others through the microchip installed inside the temples of the glasses for Internet connectivity. Consumers consider evolution Glasses as a substitute to cameras, mobile phones, music players and computers. Expected product Expected product is the features, which are carried through the benefits that are built from the core product. The attributes and characteristics in combination with each other make up Evolution Glasses that consumers would normally expect and agree to when purchasing them. Moreover, there are a numerous possible competitors, such as Google who produces similar product and expected product assists Samsung to be distinct from other...
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...Exclusive Hyun Kim Jung Hoon Hong Daiki Kim Meejoo Song Wooseung Sohn 1 I. INTRODUCTION In our presentation, there are four main subjects that we will be explaining today. Those subjects are: 1. Private goods and the Free Market System. 2.The Price Mechanism and the Invisible Hand 3. Public goods and the market failure 4. Public hand and the government failure. Before we go into the details, let me briefly give you the overview. First we have to approach these questions by asking ourselves… What do we mean by Exclusive? Of course, the word exclusive can be heard on a regular basis. For example, an exclusive interview with Professor Kim. Then what does the word exclusive mean? According to the dictionary, the word “exclusive” is defined as “not divided or shared with others” So how is this relevant to what we are studying? How is it connected to the rights? You might ask… There were discussions as to what “exclusiveness” meant. In my perspective, there are spiritual and material interests that are protected by the laws. Since, these interests are protected, as the characteristic of the rights, the interest become exclusive when it becomes a right. In having an exclusive right would mean that a person could enjoy the right at his or her wish. Therefore, we felt that there was a close link to the free market system and the right. Well, let’s go back to the last week’s lecture. If you can remember, Sun-young gave us a splendid presentation on the bourgeoisie last week. Then...
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