A Hospital administered the SERVQUAL survey to its patients as an attempt to assess the healthcare services and to evaluate the customer satisfaction level. Which statement is True? Avg. Perception 6. Avg. Expectation 3. Tangibles Reliability Empathy Responsiveness Assurance 17 6. 6. 4. O There are gaps at the levels of tangibles and empathy O There are gaps at the level of tangibles and reliability Customers are highly satisfied as employees are empathetic Customers are not satisfied since employees are not responsive
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- VUCA stands for Volatility, Uncertainty, Complexity and Ambiguity.(a)Elaborate how VUCA can affect interaction between employees and customers? (b) How can (i) Inter staff relationships and (ii) Customer Relationship Management (CRM) be improved?ADVERSE SELECTIONSomet Health Insurance Company wants to sell a health insurance product for $700 permonth. There is no requirement for healthy people to have insurance coverage. Thecompany conducts a survey to see how different populations respond to the proposed cost.People with no illnesses and disabilities, generally the young and healthy, respond that theydo not spend $700 on healthcare in an entire year, and most feel they would not waste somuch money on premiums when the chance of needing surgery or expensive healthcaretreatments is so small. However, older, sicker people think that $700 per month is a greatdeal, as most of them spend far in excess of this amount on healthcare. It seems like agreat deal for them.1. If the company offers this product, how will adverse selection affect it?1. An unsatisfied need is a gap between a person's actual and desired states on some physical or psychological dimension . Select one : True False 2. Market - oriented firms are characterized by a consistent focus only at the managerial level on customers ' needs and competitive circumstances . Select one : True False
- Paraphrase this one. Analyze and elaborate in 97 words. Before venturing into the realm of predictive analytics, it is imperative for organizations to have distinct objectives or problems awaiting resolution. Without well-defined goals, the process of data mining may culminate in a misallocation of valuable resources. Beginning with a generalized approach—where all available data is indiscriminately mined—might lead astray. The true value of predictive analysis emerges from targeted inquiries into known issues.In this task you will evaluate how effectively a Deputy Branch Manager conducts a one- to -one meeting where she gives an employee a spoken verbal warning. Video analysis using scarf modelStaus is about relative importance to others. Does the deputy manage threaten Luciano's status during the meeting? Certainty concerns being able to predict future. Does the geneal manager give Luciano clear and concise information regarding his future in the company. Automony provides a sense of control over events. Does the deputy manager give Luciano a sense of control over the situation? Relatedness is a sense of safety with others. Does the deputy manager create good report with the Lucaino to make him feel part of the team? Fairness is a perception of fair exchnages between people. Does the deputy manager seem to be acting failry with Luciano?Direction: Read and understand each question. Write True if the statement is correct, while False if the statement is incorrect. __________1. When sales exceed the cost to produce goods its result is called forecasting. __________2. Forecasting is a planning tool that helps the entrepreneur cope with uncertainties in his future operation. __________3. Costs incurred through payment of utilities such as water and electricity are called operating expenses. __________4. Mang Selo is a fruit vendor. Selling fruits is an example of a service concern business. __________5. Loss is a result when cost to produce goods is greater than the sales.
- 1. Come up with an innovative idea2. Define one Customer Persona for this hypothesis (you can use the Customer Personatemplate)3. Describe what you think the Opportunity is i.e., what Job-to-be-done that is currently importantand not satisfied4. Describe what could be an appealing Value Proposition for this opportunity i.e., howyour Value Proposition helps in solving their Jobs-to-be-done addressing thepains/gains of the persona (you can use the Value Proposition canvas template)5. Explain what could be an MVP you could develop to test whether your valueproposition would be appealing to your target audience6. Elaborate on how you could test the demand for your MVPOf the two types of customer expectations, performance expectations fluctuate the most. Describe situations that might cause expectations to increase, thereby narrowing the width of the zone of tolerance for your organization’s customers. What recommendations do you provide for the organization in these situations to better enable the organization to achieve its satisfaction targets?Develop a questionnaire designed to measureconsumer satisfaction of a clothing purchase of $100or more. Include in your questionnaire items thatmeasure the product’s instrumental, symbolic, andaffective dimensions of performance, as well as whatthe consumer wanted on these dimensions. Theninterview several consumers to obtain informationon actual performance, expected performance,and satisfaction. Using this information, determineif consumers received what they expected (i.e.,evaluation of performance) and relate any differenceto consumer expressions of satisfaction. What arethe marketing implications of your results?
- Danny Meyer Leads His Company through the Challenges of Eliminating Tips What happens when your CEO wants to remove the tip structure from your restaurant? Do you complain about the new prices as a customer? Do you worry about your paychecks as a server? Danny Meyer, CEO of Union Square Hospitality (home to some of the most successful New York restaurants), discovered these answers when he began eliminating the tip structure in most of his restaurants. He had seen firsthand the largest negative impact of a tipping culture: employees stuck in front-line positions with no chance to advance to management without taking significant pay cuts. Meyer began by first involving the affected employees in town-hall talks. These town halls happened months before any publicity was released. Meyer then hosted town halls with customers to explain the importance of fair wages for all his employees at the restaurant, not just the few who served the food. The transition period for each restaurant to…Qualitative research aims to understand concepts, thoughts, or experiences. It provides in-depth insights into poorly understood topics—the data type deals with words, pictures, or descriptions. The methods involve using focus group(s) for “Open-ended questions” to explore subjects’ perspectives, Describing observations in words, and literature reviews. Qualitative research is also at risk for biases, including the Hawthorne effect, observer bias, recall bias, and social desirability bias. How do you ensure the reliability and validity of your findings in qualitative research?Helen works as an accountant for a firm in the textile industry. During non-working hours she does extensive volunteer work for the American Red Cross, Meals on Wheels, and the American Heart Association. Helen's employer wants to maintain a favorable image in the community so it wants every employee to donate money to the United Way. Should the firm pressure Helen to donate money? Keep in mind that if Mary doesn't donate money, other employees may not either which could result in the firm having an unfavorable image in the community. On the other hand, Mary already donates time which has a monetary value and she may feel that it is unfair to be asked to donate even more.