STHM 1311 Lecture Notes - Lecture 1: Stainless Steel, Strip Mall, Intangibility
6 Apr 2016
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Document Summary
More travel of tourists domestically than internationally-however data is less accurate (not as well developed or simple) Many people don;t think of tourism within the economy. Your expenditures can determine whether or not you"re a tourist. Grabbing a drink at a local bar. Person from hong kong is a tourist. Difficult for the consumer to measure service value and quality prior to purchase. An empty seat on a plane is permanently lost. (cannot generate revenue from that service) A service is always unique variability makes quality control difficult. Inseparability (simultaneity)-services are produced and consumed at the same time. Consumers are often co-producers. (customer is there on the factory floor. ie- Mcdonald"s open counter into the kitchen to stage the experience of good quality. They use stainless steel because it"s easy to keep shiny) Difficult to evaluate quality prior to consumption (ie-doctors show degrees) Services cannot be patented, so innovation and best practices are easy for competitors to copy.
