Contrast the two views about thinking of the core product as a tangible item or a service, as discussed in the text
What will be an ideal response?
Many of us are used to thinking of the core product as some tangible item. However, when the core product is a service, how does it affect our thinking about managing the market offering? Two views can be taken on this point. One is that services are fundamentally different.8 In support of this viewpoint, four characteristics are thought to be unique to services.
1,. Intangibility. Services can't be touched but rather are experienced.
2, Inseparability of production and consumption. Services are consumed as they are produced.
3, Perishability. Following from this inseparability, services cannot be saved or stored for later use.
4, Heterogeneity. Because of their greater dependence on the provider, services have the potential for high variance in their performance. The opposing view is that the differences between products and services are a matter of degree and that all market offerings can be thought of as falling along a continuum of tangibility. Further, few, if any, products or services are completely tangible or completely intangible. Suppliers provide promises of performance satisfaction to prospective customers, which they attempt to tangibilize in their presentation.
You might also like to view...
Approving a price reduction because goods are damaged is an example of __________________________
Fill in the blank(s) with correct word
Which one of the following is typically the first step on the checklist for starting a research project?
A. Determining how much the research project will cost B. Establishing what information is needed and how it will be used C. Describing who is going to do each of the steps in the process D. Deciding what type of survey will be done before moving forward E. Clearly establishing that you have the skills to do the research
Compare “entrepreneurship” with “startup.”
What will be an ideal response?
Which of the following is most likely to result in unfavorable public relations?
A. Congratulating someone for a special achievement B. Inviting someone to a highly-acclaimed art show and not letting them pay C. Thanking someone for his or her business D. Informing a customer that his or her claim is nonallowable