A new car rental company has decided to differentiate itself by creating a service aimed at people who need to rent a car for a few hours or a few days while their car is repaired. The company believes that it will be profitable as it will win the favor of consumers by providing services that large companies do not offer. For example, bring the car to the customer and pick it up at the end of the rental. Based on this description, which of the following differentiation strategies is the company planning to use? Select one: a. service-based b. based on product c. based on personal treatment d. based on image

A new car rental company has decided to differentiate itself by creating a service aimed at people who need to rent a car for a few hours or a few days while their car is repaired. The company believes that it will be profitable as it will win the favor of consumers by providing services that large companies do not offer. For example, bring the car to the customer and pick it up at the end of the rental. Based on this description, which of the following differentiation strategies is the company planning to use? Select one: a. service-based b. based on product c. based on personal treatment d. based on image

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter10: Introduction To Simulation Modeling

Section: Chapter Questions

Problem 41P: At the beginning of each week, a machine is in one of four conditions: 1 = excellent; 2 = good; 3 =...

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At the beginning of each week, a machine is in one of four conditions: 1 = excellent; 2 = good; 3 = average; 4 = bad. The weekly revenue earned by a machine in state 1, 2, 3, or 4 is 100, 90, 50, or 10, respectively. After observing the condition of the machine at the beginning of the week, the company has the option, for a cost of 200, of instantaneously replacing the machine with an excellent machine. The quality of the machine deteriorates over time, as shown in the file P10 41.xlsx. Four maintenance policies are under consideration: Policy 1: Never replace a machine. Policy 2: Immediately replace a bad machine. Policy 3: Immediately replace a bad or average machine. Policy 4: Immediately replace a bad, average, or good machine. Simulate each of these policies for 50 weeks (using at least 250 iterations each) to determine the policy that maximizes expected weekly profit. Assume that the machine at the beginning of week 1 is excellent.
A firm’s value proposition communicates the benefits received from theproduct or service by customers. Therefore, the value propositionprovides the customer with which key piece(s) of information?
a bread manufacturer relies on maintenance employees to keep its rather quite old production equipment for their operation. Whenever the equipment breaks down, the maintenance team is able to repair the equipment quickly. However, they are less effective at avoiding these breakdowns and cannot predict when the equipment will break down. The maintenance group has modified the equipment over the years and, in any event, the manufacturer of the equipment is no longer in business. The maintenance employees teach each other how to repair the equipment, but have refused to document any of this information (saying that it is too difficult to document these details). The company owner has thought about firing the maintenance staff unless they document the maintenance procedures, but realizes that there is no one else who can repair the equipment. Discuss or explain the sources or types of power and contingencies (moderator) of power among the maintenance employees in this situation.
Amazon has been collecting review data for a particular product. They have realized that almost 90% of the reviews were mostly a 5/5 rating. However, of the 90%, they realized that 50% of them were customers who did not have proof of purchase or customers who did not post serious reviews about the product. Of the following, which is true about the review data collected in this situation? State the reasons for your answer. a) Low Volume b) High Volume c) Low Veracity d) Low Variety e) High Veracity f) High Variety
Using signavio or any PBM tools. Model the following business process at a supplier. After a supplier notifies a retailer of the approval of a purchase order, the supplier can receive an order confirmation, an order change, or an order cancelation from the retailer. It may happen that no response is received at all. If no response is received after 48 h, or if an order cancelation is received, the supplier will cancel the order. If an order confirmation is received within 48 h, the supplier will process the order normally. If an order change is received within 48 h, the supplier will update the order and ask again the retailer for confirmation. The retailer is allowed to change an order at most three times. Afterwards, the supplier will automatically cancel the order.
the statement is correct and FALSE if the statement does not fit the description. of paper, write TRUE if 1. A customer is a person or organization that transacts with a business person or business organization to buy goods or services for monetary or other valuable considerations. 2. Customer Relationship Management can take on many forms-salespersons assistance, product delivery, technical advice, help desks, or other means. 3. Companies can best manage customer service quality by establishing service objectives with specific and measurable targets. 4. Customer service is a process of managing an organization's interactions with current and future customers. 5. By Knowing the value or worth of its customers, a company can focus its resources in attracting and keeping the "right" type of customers. 6. The customers are the lifeblood of any business. 7. The business is the one responsible for sealing the deal with customer. 8. A customer's lifetime value can be based upon the potential…
identify dependent and independent variables in this statement "We asked first 600 and then 1000 customers to think of a brand/product/service they loved and they disliked. We then asked them to write a divorce letter to the disliked brand and a love letter to the brand they admired, and to score these two brands on a scale from 1 to 10. In this way, we had a benchmark for the perception of the loved and the disliked brands."
an example of dissatisfied customer for the product or service by the company and indicate the saying about "customer is always right" in the experience. And also express how should it be handled or solved by the company or business organization.
Bashaer is a millionaire but always buy a TOYOTA ACCORD even though he can afford Mercedes Benz sports car. Nayef on the other hand cannot afford to buy BMW, but he made a bank loan to purchase the BMW Coupé for half a million dollars. Explain why they choose those cars by describing through the Customer’s Lifetime Value (CLV) Assessments. Explain the importance of the Customer Profile Components of Nayef and Bashaer.
Consider the image below. Briefly design a short section of a survey questionnaire , with only three questions, to identify the most important attributes when customers are choosing a coffee shop and how they would rank the importance of the attributes.
Perkins Company has been experiencing lost sales and high returns recently, so they decided to undertake a comprehensive quality program. Here are factors being considered: Finished products need to be inspected before shippingEstimated cost: $45,000 Production equipment needs upgradingEstimated cost: $400,000 Perkins knows that if it undertakes this program, it will be able to reduce warranty repair costs by $25,000. They also know they will be able to avoid lost profits by retaining customers, but they cannot quantify that benefit with any degree of precision. Should Perkins go ahead with the quality program? A) Yes, they should, regardless of any other considerations. B) No, they should not. C) They should, only if the benefit of avoiding lost profits is estimated to be over $420,000. D) They should, only if the benefit of avoiding lost profits is estimated to be over $445,000.
When performing sales mix analysis , which one of the following is false : a. Producing and selling more units of the product with a higher contribution margin would likely decrease the breakeven point b. Making changes to the sales mix will likely cause a change in the breakeven point c. The sales mix is usually assumed to be remain the same . d. Shifting the sales mix to the product with a lower contribution margin will likely ncrease the overall contribution margin e. Normally the calculation of the breakeven point for multiproduct is more complicated than that for a single product