When a Service Declines in Its Life Cycle

question 47

Multiple Choice

When a service declines in its life cycle:

• A) it is always a function of strategy
• B) it can be the result of factors beyond the control of the manager
• C) price changes can usually correct the decline
• D) looking for a market niche can help stem the decline

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Definitions:

Social Clock

The culturally determined psychological timepiece providing a sense of whether we have reached the major benchmarks of life at the appropriate time in comparison to our peers.

Maturation

The predetermined unfolding of genetic information.

Intimacy-versus-Isolation Stage

A concept in Erik Erikson's theory of psychosocial development where individuals face the challenge of forming intimate relationships with others versus feeling isolated.

Postformal Thought

Thinking that acknowledges that adult predicaments must sometimes be solved in relativistic terms.