Lovelock (2015) Suggests Services Can Be Grouped into Clusters Based

question 22

Multiple Choice

Lovelock (2015) suggests services can be grouped into clusters based on which of the following marketing-relevant characteristics?

• A)Relationships with customers
• B)Customisation versus standardisation
• C)Degree of tangibility/intangibility of service processes
• D)The place of service delivery
• E)All of the above

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Definitions:

Receivables

Funds that are owed to a company by its customers or clients for goods or services already delivered.

Payables

Short-term liabilities of a company, representing amounts owed to suppliers or creditors for goods and services received but not yet paid for.

Control Accounts

General Ledger accounts that summarize the balances of numerous subsidiary accounts, used to consolidate and reconcile details.

Computerized Accounting System

An accounting system that utilizes software to record, store, and process financial transactions and data.