To Make Car Maintenance Service More Tangible to Consumers,Speedi-Lube Has

question 18

Multiple Choice

To make car maintenance service more tangible to consumers,Speedi-Lube has added a large diagram on one of the waiting room walls of its service centers that shows the underside of an automobile and identifies all of the lubrication points and exactly what work is being done to the car.As part of its physical evidence strategy,Speedi-Lube has:

• A) Mapped the physical evidence of the service
• B) Identified physical evidence opportunities
• C) Clarified the roles of the servicescape
• D) Recognized the strategic impact of physical evidence
• E) Updated and modernized its ambient evidence

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Definitions:

Voluntary Exchange

An economic transaction where all parties involved agree to the trade, believing they will benefit from the exchange.

Relative Scarcity

The economic concept referring to the limited availability of resources in comparison to the unlimited wants and needs of consumers.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, creating a market balance.

Equilibrium Quantity

The supply of goods or services equals the demand for them at the price where the market is in equilibrium.