What are the four marketing elements that distinguish services from products?
Services are intangible, inseparable, variable, and perishable
Why can't we separate firms into just service or just product sellers?
Many of them are a blend and fall within the product-service continuum
Explain the 4 service gaps identified by the Gaps Model.
The knowledge gap: reflects the difference between customers' expectations and the firm's perception of those customer expectations
The standards gap: difference between the firm's perceptions of customers' expectations and the service standards it sets
Why is service recovery so important to companies?
Despite a firm's best efforts, sometimes service providers fail to meet customer expectations. Effective service recovery efforts can significantly increase customer satisfaction, purchase intentions, and positive word of mouth, though customers' post rec
What can companies do to recover from a service failure?
Distributive fairness and Procedural fairness