MCS 1000 Study Guide - Final Guide: Customer Relationship Management, Customer Satisfaction, Pricing Strategies

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: l

Document Summary

Product elements: all components of the service performance that create value for customers. Place and time: management decisions about when, where, and how to deliver services to customers. Price and other user outlays: expenditures of money, time, and effort that customers incur in purchasing and consuming services. Promotion and education: all communication activities and incentives designed to build customer performance for a specific service or service provider. Process: a particular method of operations or series of actions, typically involving steps that need to occur in a defined sequence. Physical environment: the appearance of visible cues, all providing tangible evidence of a firm"s image and service quality. People: customers and employees who are involved in service production. The idea that a brand has numeric dollar value even though there are no tangible assets. The dollar amount attributed to the value of the brand, based on all the intangible qualities that create that value. Setting prices relative to those charged by competitors.