Managing Services (JUL’2024 – SEP’2024) Assignment 1 PDF

Managing Services (JUL’2024 – SEP’2024) (Assignment: 1) 1. Which of the following best exemplifies the concept of service? A) Purchasing a car from a dealership. B) Renting a car for a weekend getaway. C) Buying a new smartphone...

Managing Services (JUL’2024 – SEP’2024) (Assignment: 1) 1. Which of the following best exemplifies the concept of service? A) Purchasing a car from a dealership. B) Renting a car for a weekend getaway. C) Buying a new smartphone from an electronics store. D) Downloading a paid software application. 2. A customer visits a spa for a relaxing massage therapy session. The customer receives professional attention and enjoys a calm, stress-relieving experience. Which aspect of this service demonstrates that value creation is dominated by intangible elements? A) The comfortable massage chair used during the session B) The essential oils applied during the massage C) The sense of relaxation and stress relief felt by the customer D) The complimentary tea offered after the session 3. A company hires a professional accounting firm to handle its financial records and tax filings. This service involves collecting financial data, analyzing it, and preparing reports. Which category of service does this scenario best represent? A) Information processing B) People-processing C) Possession-processing D) Mental Stimulus processing 4. A company in the global service economy aims to enhance its market position by integrating advanced technology with new business models, focusing on Product Service Systems. Which of the following strategies is most likely to contribute to their success? A) Ignoring competitor activities and focusing solely on internal processes B) Offering standalone products without additional services C) Reducing investments in technology to cut costs D) Creating value by understanding customer needs and competitors strategies 5. TechWave, a leading provider of smart home devices, is working on integrating their product and service flow to enhance customer satisfaction and streamline operations. Their approach includes seamless coordination from the initial design and manufacturing of their devices to offering installation services and ongoing maintenance support. This integration ensures that customers receive comprehensive service, from the moment they purchase a device to its end-of- life recycling. TechWave's strategy to provide seamless coordination from product design to end-of-life recycling exemplifies which aspect of value chain integration? A) Marketing and Sales B) Supply Chain Management C) Product Service Flow D) Financial Management 6. Which of the following best describes the primary focus of customer intimacy in business strategy? A) Reducing costs through economies of scale B) Creating customized solutions that meet individual customer needs C) Expanding market reach through aggressive advertising D) Standardizing products to appeal to the largest audience 7. Which of the following elements is NOT part of the extended marketing mix specifically for services? A) Payment B) Process C) Physical Environment D) People 8. Which three management functions play important pivotal roles in addressing the requirements of service consumers? A) Accounts, Marketing, and Human Resource B) Operations, Accounts, and Supply Chain C) Operations, Marketing, and Human Resource D) Operations, Design and Housekeeping 9. How do we refer to attributes that customers find challenging to evaluate even after consumption? A) Credence attributes B) Experience attributes C) Capital attributes D) Search attributes 10. Which component of the Services Marketing Triangle involves responding directly to customer actions to create a personalized experience and leverage engagement into sales? A) External Marketing B) Internal Marketing C) Interactive Marketing D) Customer Relationship Management