Service Strategies and Analysis

These flashcards cover key concepts about service strategies, Porter’s Five Forces, SWOT analysis, and examples relevant to service industries.

What are the three generic service strategies?

1. Differentiation 2. Cost Leadership 3. Focus.

What does differentiation in service strategy aim to achieve?

To make the service memorable, customized, reliable, or high-quality.

What is cost leadership in service strategy?

Providing the lowest-cost acceptable service, achieved through methods like standardization and automation.

List the five forces in Porter’s analysis.

1. Competitive Rivalry 2. New Entrants 3. Substitutes 4. Bargaining Power of Customers 5. Bargaining Power of Suppliers.

What does SWOT stand for in SWOT analysis?

Strengths, Weaknesses, Opportunities, Threats.

What is a service qualifier?

The basic requirements that must be met to be considered, like cleanliness and being open on time.

What is the triple bottom line of service firm sustainability?

1. Profit (Economic) 2. People (Social) 3. Planet (Environmental).

What is an example of a service winner in the fast-food industry?

Chick-fil-A (customer service).

What constitutes a service loser?

A failure on a basic expectation that drives customers away, e.g., dirty kitchen or rude staff.

Identify one opportunity in the SWOT analysis for Alamo Drafthouse.

Expand by acquiring small theaters or focusing on business meetings as a niche.