5 Questions
What is the main focus of the study by Hung Hoang, et al (2017)?
The Influence of Service Culture on Customer Service
What percentage of the gross domestic product do services account for in most advanced economies?
More than 70%
What percentage of the global economy do services account for?
72%
What impact do services have on economic growth according to Malhotra et al. (2005)?
They provide support to other industries
How are tangible products primarily associated with services?
They are 'wrapped' in services to achieve market acceptance
Study Notes
Services in Economics
- The study by Hung Hoang, et al (2017) focuses on services.
Contribution of Services to Economy
- Services account for 70-80% of the gross domestic product in most advanced economies.
- Services account for approximately 60% of the global economy.
Impact of Services on Economic Growth
- According to Malhotra et al. (2005), services have a significant positive impact on economic growth.
Services and Tangible Products
- Tangible products are primarily associated with services through bundling or combining them with intangible offerings.
Test your knowledge of service culture with this quiz compiled by Dr. Louvelle S. Formentera from the Polytechnic University of the Philippines. Explore key concepts and principles in BUMA 30053 and enhance your understanding of service culture in the business environment.
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