You Are Considering Hiring an Outside Consultant to Help You

question 114

Multiple Choice

You are considering hiring an outside consultant to help you improve your services business. You believe your most pressing issue is how to maintain consistent quality in the delivery of your services. Your customer surveys suggest you need to work on this very important issue. Based on this, you should be looking for a consultant who has experience in dealing with the _______________ issue related to services.

• A) inseparability
• B) perishability
• C) heterogeneity
• D) intangibility
• E) customer relationship

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Definitions:

Inflation Rate

The percentage rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling.

Nominal Rate

The interest rate unadjusted for inflation; the face value rate expressed as a percentage.

Real Rate

The interest rate that has been adjusted to remove the effects of inflation, showing the true cost of borrowing.

Economic Rent

A payment made for the use of a good, service, or resource above and beyond what is necessary to encourage its production or supply.