Developing, Pricing, Promoting, and Delivering Services Is Challenging Because the Quality

question 124

Multiple Choice

Developing, pricing, promoting, and delivering services is challenging because the quality of the service is often inconsistent. Organizations attempt to reduce this inconsistency by

• A)paying higher incentives to employees to encourage satisfactory performance.
• B)reducing incentives available to employees because of poor performance.
• C)reducing the customer contact points in the service delivery process.
• D)providing standardization and training.
• E)exercising better hiring practices.

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Definitions:

Price of Y

This refers to the cost or value assigned to a specific good or service denoted by "Y", which can vary based on market demand, supply, and other economic factors.

Hypothetical Consumer

An idealized representation of a consumer used for theoretical purposes, reflecting average behaviors and responses to market changes.

Utility-Maximizing Combination

A selection of goods and/or services that provides the highest level of satisfaction or utility to a consumer, given their budget constraints.

Total Utility

The total satisfaction or benefit received by consuming a particular quantity of a good or service.