| 1. Associated value encompasses the entire customer experience with the company. |
2. The following is a good example of perceived higher intrinsic value by customers: | a. Putting a customer on hold, and switching him/her to three different departments to resolve an issue | | b. Having a lot of rules and red tape regarding redeeming airline miles | | c. A bank assigning a personal banker for each customer | | d. All of the Above | |
3. When companies offer menus of product characteristics for customers to select from, they can create industrial intimacy is an example related to which extrinsic value technique: | a. Company credibility | | b. Goodness of product fit | | c. Memorability of product experience | | d. None of the above | |
| 4. Complicated fares and the perception of inequity among passengers hurt the credibility of airlines. |
| 5. Convenience is much easier to work with than speed. |
6. Which one below is a tactic for virtual waiting offered by Hospitality management scholars Duncan Dickson, Robert C. Ford, and Bruce Laval? | a. Manage the reality of the actual wait by looking like you are very busy. | | b. Manage the perception of the wait by telling jokes to the customer. | | c. Make the wait invisible through developing virtual queries, which allow customers to participate in other activities while they wait for an appointed time at their desired activity. | | d. Make sure to tell the customer that sometimes things take a bit longer than expected and they need to be patient. | |
7. The following company is a great example of Create once-and-done service: | a. Ritz-Carlton Hotels | | b. Spirit Airlines | | c. Bank of America | | d. Motel 8 | |
8. Wireless internet available at coffee shops, bookstores and restaurants is an example of: | a. Offering ancillary service | | b. Create once-and-done service | | c. Simplifying the product | |
9. Studies show that more than ________ of customers stop doing business with a company because of poor access to services and information. | a. 50 percent | | b. 80 percent | | c. 67 percent | | d. 33 percent | |
| 10. FAQs typically include key product information with short answers. |
