Term
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Definition
-U.S. words first service economy -Accounts for over 1/2 of GDP and employs 80% of nonfarm workers - |
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Term
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Definition
| Services should be viewed in terms of the tangibility (goods and services) continuum, NOT just as services. |
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Term
| Core and Supplementary services |
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Definition
Core service: basic service experience a customer expects to get from service. Supplementary service: additional offerings that enhance value and differentiate the firm |
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Term
| Pricing of services (price) |
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Definition
-Based on performance of specific tasks (car wash) or on time to complete service (babysitting) -based on level of demand; high price at peak, lower when less demand. -Price indicates quality when consumers have no other clues to indicate quality. |
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