Many Services-Marketing Experts Suggest That Creating and Delivering New Services

question 192

Multiple Choice

Many services-marketing experts suggest that creating and delivering new services is much more difficult than creating new tangible products and new services differ from product innovations in several important ways. Which of the following best illustrates these differences?

• A)most service companies focus on continuous innovation
• B)for labour-intensive, interactive services, the actual providers (the service delivery staff)are part of the customer experience and thus are part of the innovation
• C)most service companies focus on creating only incremental improvements
• D)the new-service development process is often easy for the service customer to observe

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Definitions:

Multicollinearity

A statistical phenomenon in which two or more predictor variables in a multiple regression model are highly correlated, potentially distorting the model's estimations.

Standard Errors

The standard deviation of the sampling distribution of a statistic, measuring the accuracy with which a sample estimate represents the population parameter.

Parameter Estimates

Statistical values calculated from data that are used to represent certain characteristics of a population.

Level of Significance

A statistical measure that defines how strong the evidence must be to reject the null hypothesis in a hypothesis test.