Using Customer Expectations to Develop Service Standards Provides Service Firms

question 48

Multiple Choice

Using customer expectations to develop service standards provides service firms with which of the following benefits?

• A)Companies can save money by only offering what customers value
• B)Companies only offer activities and features that customers do expect
• C)Companies only offer activities and features that customers notice
• D)Companies only offer activities and features that customers are willing to pay for
• E)All of the above

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Definitions:

Systematic Component

In statistical analysis, the part of variation that can be attributed to identifiable factors, typically following a predictable pattern.

Seasonal Factor

Variations in business or trading activities that occur at the same time every year.

Simple Moving Average

A mathematical calculation that averages a set number of past data points to smooth out short-term fluctuations and identify trends.

Historical Demand

Past data regarding the consumption of products or services, used to predict future demand patterns and guide inventory and production planning.