ECON344 Chapter 10: BU_352_Chapter10

• School: University of Waterloo
• Department: Economics
• Course: ECON344
• Professor: Deborah Reyner

Document Summary

Customer service: hu(cid:373)a(cid:374) or (cid:373)e(cid:272)ha(cid:374)i(cid:272)al a(cid:272)ti(cid:448)ities to help satisf(cid:455) (cid:272)usto(cid:373)ers" needs and wants. Adds value intangible offering that involves deed, performance or effort that cannot be physically possessed: intangible makes it hard to market. Showing the benefits is challenging, and promotion is often done with symbols and signs: inseparable purchase and consumption. There is no waiting, no sampling, and a lot of risks. Health care industries try to give you some options, and some services make guarantees: inconsistent. Haircuts from different barbers or on different da(cid:455)s (cid:272)a(cid:374) (cid:448)ar(cid:455). You (cid:272)a(cid:374)"t retur(cid:374) a hair(cid:272)ut, the da(cid:373)age has (cid:271)ee(cid:374) done. Target this by switching to computers, create company standards, or micromarketing for individual customers: inventory. Services are perishable; therefore the matching of supply and demand is crucial. Service quality: (cid:272)usto(cid:373)ers" per(cid:272)eptio(cid:374) of ho(cid:449) (cid:449)ell a service meets or exceeds their expectations. Zone of tolerance: room (cid:271)et(cid:449)ee(cid:374) (cid:272)usto(cid:373)ers" desired performance and minimum accepted performance.