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Exam 18: The Financial and Economic Impact of Service

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Question 21

Multiple Choice

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All of the following are financial measures used in the balanced performance scorecard EXCEPT:

A) Value of price premiums
B) Customer satisfaction
C) Volume increases
D) Long-term value of customers
E) Cross sales

F) B) and E)
G) A) and E)

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Question 22

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The easiest area of the balanced scorecard to measure quantitatively is innovation and learning.

A) True
B) False

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Question 23

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Guests who stay at a Walt Disney resort hotels are asked to complete a comment card when they checkout. In one section of the comment card, guests are asked if they would recommend the hotel they stayed at to a friend and if they would return to the same hotel. These two behavioral intention questions are focusing on the _____ perspective of its balanced performance scorecard.

The development of _____ allows service companies to create, automate and integrate measurements in all parts of the company in a balanced performance scorecard.

Balanced scorecards sound good in theory, but they are nearly impossible to implement; therefore, their use is nominal.

There are several auto repair shops in a three-block area on King Street. One of the shop owners decided to extend her shop's operating hours until 10 p.m. Monday-Thursday and provide a pick-up and delivery service with bonded drivers as well as guarantee all repairs for six months. This job owner is engaged in _____ marketing.

A service firm that calculates the long-term value of a customer is looking at the _____ in its balanced performance scorecard.

FedEx measures customer satisfaction and service quality with a 12-item statistical measure called the Service Quality Indicator. One of the items measured by FedEx is the number of missed pickups per day. In a balanced performance scorecard, the number of missed pickups per day would represent a(n) _____ measure.

The best known and most widely respected approach that executives use for making decisions about service quality investments is:

What is another name for customer-linked operational measures that would be used in a balanced performance scorecard?

Defensive marketing can be used to reduce customer churn.

Consumers believe that advertisements in publications like Newsweek, Time and similar magazines have the highest level of credibility.

Which type of promotion has more credibility than other sources of information about a service?

What is considered to be a more credible as a source of information than any other?

Why have managers replaced traditional tools for measuring a company's performance with the balanced scorecard?

The research exploring the relative importance of service dimensions on overall service quality or customer satisfaction has confirmed _____ as the most critical dimension.

When service quality first emerged as a pivotal competitive strategy what method did managers use to determine the effect of improved service quality on financial success?

The comment card that is often found on the tables at a Wendy's fast-food restaurant asks about the customer's perceptions of the quality of the food, its cleanliness and the friendliness of the employees. These questions are focusing on _____ in Wendy's balanced performance scorecard.

How have companies traditionally measured their performance?

Service quality can help companies attract more and better customers to the business through _____ marketing.