Exam 18: The Financial and Economic Impact of Service

The _____ is a set of measures that gives top managers a fast, but comprehensive view of the business. It complements financial measures with operational measures of customer satisfaction, internal processes and the organization's innovation and improvement activities.

Which of the following is an example of a soft measure of a company's success?

What type of services marketing needs to be used to stop customer churn?

Many companies do not identify and act on the correct non-financial measures. One mistake the companies make is _______ that involves not laying out the cause-and-effect relationships between drivers and strategic success.

The benefits of offensive marketing have been documented through the use of:

The increased profits a service firm realizes from customer retention result from all of the following EXCEPT:

The money a company makes from customer retention comes from four sources. List them.

The key drivers of service quality, customer retention and profits are:

Evidence shows that customer perceptions of quality do not affect consumer intentions.

Service quality, like advertising, has a cumulative effect on a company's profit.

The ROSQ approach would be appropriate for a service provider:

The operational measures used within the balanced performance scorecard should be:

From the inception of service quality, managers had highly sophisticated tools to measure the impact of improved service on profits.

Which of the following is NOT a question managers want researchers to answer about defensive marketing?

The owner of Fiori Flower and Gift Shop has noticed a gradual decline in its number of customers over the last three years. The owner suspects that many of its regular customers are now buying flowers at the newly opened Kroger supermarket. It would be appropriate for the owner to institute _____ marketing.

Many companies do not identify and act on the correct non-financial measures. One mistake the companies make is _______ that involves measuring complex phenomenon with one or two simple measures or using quantitative metrics to capture qualitative results for factors such as leadership.

Which of the following has the strongest effect on a service provider's profits?

Financial measures used in the balanced scorecard include the long-term value of the customer, the number of new products, return on innovation and number of customer referrals.

What area of the balanced performance scorecard is a company studying when it examines overall customer service perceptions?

What area of the balanced performance scorecard is a company studying when it examines its employee skills, return on innovation and time spent talking to customers?