Services Marketing: People, Technology, Strategy
Author: Christopher H Lovelock
Significantly revised, restructured, and updated to reflect the challenges facing service managers in the 21st century, this book combines conceptual rigor with real world examples and practical applications.
Exploring both concepts and techniques of marketing for an exceptionally broad range of service categories and industries, the Sixth Edition reinforces practical management applications through numerous boxed examples, eight up-to-date readings from leading thinkers in the field, and 15 recent cases.
For professionals with a career in marketing, service-oriented industries, corporate communication, advertising, and/or public relations.
Booknews
A text for use in MBA and executive MBA courses, designed to complement material found in traditional marketing principles texts. Offers a strong managerial orientation and strategic focus in an integrated approach to studying services that places marketing issues within a broader general management context. This fourth edition contains four new chapters, seven new readings, five new cases, and more coverage of consumer behavior, people management, and Internet- based services. Lovelock gives seminars and workshops. He was on the faculty of Harvard Business School for 11 years. Annotation c. Book News, Inc., Portland, OR (booknews.com)
Table of Contents:
| Preface | ||
| About the Authors | ||
| Pt. 1 | Understanding Service Products, Consumers, and Markets | 1 |
| Ch. 1 | Introduction to Services Marketing | 3 |
| Ch. 2 | Consumer Behavior in Service Encounters | 29 |
| Ch. 3 | Positioning Services in Competitive Markets | 57 |
| Readings | ||
| "Service Theater: An Analytical Framework for Services Marketing" | 78 | |
| "How We Built a Strong Company in a Weak Industry" | 88 | |
| Pt. 2 | Key Elements of Services Marketing | 93 |
| Ch. 4 | Creating the Service Product | 95 |
| Ch. 5 | Designing the Communications Mix for Services | 124 |
| Ch. 6 | Pricing and Revenue Management | 151 |
| Ch. 7 | Distributing Services | 181 |
| Readings | ||
| "Cultivating Service Brand Equity" | 207 | |
| "The Strategic Levers of Yield Management" | 217 | |
| Pt. 3 | Managing the Service Delivery Process | 229 |
| Ch. 8 | Designing and Managing Service Processes | 231 |
| Ch. 9 | Balancing Demand and Capacity | 259 |
| Ch. 10 | Planning the Service Environment | 285 |
| Ch. 11 | Managing People for Service Advantage | 309 |
| Readings | ||
| "How to Lead the Customer Experience" | 341 | |
| "The High Cost of Lost Trust" | 343 | |
| Pt. 4 | Implementing Services Marketing | 349 |
| Ch. 12 | Managing Relationships and Building Loyalty | 351 |
| Ch. 13 | Customer Feedback and Service Recovery | 381 |
| Ch. 14 | Improving Service Quality and Productivity | 405 |
| Ch. 15 | Organizing for Service Leadership | 437 |
| Readings | ||
| "Where Should the Next Marketing Dollar Go?" | 462 | |
| "Why Service Stinks" | 466 | |
| "Linking Actions to Profits in Strategic Decision Making" | 474 | |
| Case 1 | Sullivan Ford Auto World | 486 |
| Case 2 | Four Customers in Search of Solutions | 491 |
| Case 3 | Commerce Bank | 492 |
| Case 4 | Giordano: International Expansion | 505 |
| Case 5 | Aussie Pooch Mobile | 520 |
| Case 6 | Visiting Nurse Associations of America | 533 |
| Case 7 | Accra Beach Hotel: Block Booking of Capacity during a Peak Period | 546 |
| Case 8 | Coyote Loco: Evaluating Opportunities for Revenue Management | 552 |
| Case 9 | Menton Bank | 563 |
| Case 10 | Vick's Pizza Corporation | 572 |
| Case 11 | Hilton HHonors Worldwide: Loyalty Wars | 575 |
| Case 12 | Massachusetts Audubon Society | 588 |
| Case 13 | The Accellion Service Guarantee | 604 |
| Case 14a | Innovation at Progressive (A): Pay-As-You-Go Insurance | 607 |
| Case 14b | Innovation at Progressive (B): Homeowners Insurance | 620 |
| Case 14c | Innovation at Progressive (C): Auto Repair | 625 |
| Case 15 | TLContact.com | 627 |
| Credits | 641 | |
| Name Index | 643 | |
| Subject Index | 648 |
New interesting textbook: Cooking Light Complete Cookbook or Gary Vaynerchuks 101 Wines
an Introduction to Behavioral Economics: A Guide for Students
Author: Nick Wilkinson
In recent years there has been increasing criticism that the standard neoclassical model of economics has been unable to explain the irregularities highlighted by empirical research. This book looks at how alternative behavioral models, informed by a number of disciplines including psychology, attempt to explain these anomalies.
Table of Contents:
List of Tables and Figures xvPreface xvii
Acknowledgements xx
Introduction
Nature of Behavioral Economics 3
Behavioral economics and the standard economic model 4
What is behavioral economics? 4
The standard economic model 5
Shortcomings of the standard economic model 7
Evaluating theories 8
History and evolution of behavioral economics 10
The classical and neoclassical approaches 10
Post-war economic approaches 11
The resurgence of psychology 11
Behavioral economics, experimental economics, and neuroeconomics 12
Methods 14
Economists' methods 14
Psychologists' methods 15
Methodological issues 16
Consilience 21
Reductionism 23
Objectives, scope, and structure 25
Objectives 25
Evolutionary psychology 25
Normative aspects 27
Structure 28
Summary 29
Applications 29
Loss-aversion in monkeys 30
Moneyillusion 32
Altruism 35
Foundations
Values, Attitudes, Preferences, and Choices 39
The standard economic model 41
Consumer behavior 41
Preferences 41
Indifference curves 42
Equilibrium 42
Axioms, assumptions, and definitions 44
Axioms 44
Assumptions 45
Definitions 47
Weaknesses of the standard economic model 49
Happiness is a three-act tragedy 49
Discrepancies between objective causes and subjective effects 50
Expectations effects 51
Addiction and abstention 51
Endowment effects 52
Framing effects 53
Nature of utility 54
Historical evolution 54
Cardinal and ordinal utility 55
Decision utility 55
Experienced utility 58
Endowment and contrast effects 58
Anticipatory utility 61
Residual utility 61
Diagnostic utility 62
Measurement of utility 62
Total utility and objective happiness 62
Dimensions of utility 63
Criteria for measurement 64
An expected psychological utility model 68
Foundations in evolutionary neurobiology 68
Nature of the model 69
Policy implications 70
Jury awards of punitive damages 70
The Contingent Valuation Method (CVM) and public goods 72
Crime and Punishment 73
Summary 75
Applications 76
When abstention is better than moderate consumption 76
Environmental protection 80
Anti-Social Behaviour Orders (ASBOs), punishment and happiness 81
Decision-Making under Risk and Uncertainty 84
Background 86
Expected utility theory 86
Anomalies in expected utility theory 90
Conventional approaches to modifying expected utility theory 93
Weighted utility theory 93
Disappointment theory 93
Betweenness models 94
Nonbetweenness models 94
Decision-weighting theories 95
Rank-dependent expected utility theory 96
Conclusions 97
Prospect theory 98
Editing 99
Evaluation 100
Reference points 102
Nature 102
Psychological foundation 103
Empirical evidence 104
Loss-aversion 105
Nature 105
Psychological foundation 106
Empirical evidence 106
Shape of the utility function 108
Nature 108
Psychological foundation 111
Empirical evidence 112
Decision weighting 114
Nature 114
Psychological foundation 120
Empirical evidence 123
Criticisms of prospect theory 127
Lack of normative status 127
The nature of the utility function 128
The determination of reference points 129
Endowment effects and experience in the market 130
The discovered preference hypothesis and misconceptions 131
The nature of framing effects 134
Conclusions 137
Violations of monotonicity 137
Violations of transitivity 138
Event-splitting effects 139
Other factors 139
Summary 141
Applications 143
The endowment effect 143
Insensitivity to bad income news 145
Fears of terrorist attacks 146
Mental Accounting 149
Nature and components of mental accounting 150
Framing and editing 150
Implications of prospect theory 150
Hedonic editing 151
Evaluation of outcomes and decision-making 155
Budgeting and fungibility 157
Consumption budgeting 158
Income budgeting 160
Wealth budgeting 161
Time budgeting 164
Policy implications 164
Choice bracketing and dynamics 167
Opening and closing accounts 168
Prior outcome effects 172
Myopic Loss-Aversion (MLA) 173
The diversification heuristic 175
Summary 176
Applications 177
The equity premium puzzle 178
Why you can't find a cab on a rainy day? 181
Consumer spending and housing wealth 184
Intertemporal Choice
The Discounted Utility Model 189
Introduction 190
Origins of the discounted utility model 190
John Rae and the desire for accumulation 191
Two different approaches 191
Bohm-Bawerk and trade-offs 192
Irving Fisher and indifference curve analysis 192
Samuelson and the discounted utility model 193
Features of the discounted utility model 194
Integration of new alternatives with existing plans 195
Utility independence 195
Consumption independence 195
Stationary instantaneous utility 196
Stationary discounting 196
Constant discounting 197
Independence of discounting from consumption 197
Diminishing marginal utility and positive time preference 198
Methodology 198
Types of empirical study 199
Methodological issues 203
Calculation of the discount rate 205
Anomalies in the Discounted Utility Model 206
The "sign effect" 206
The "magnitude effect" 207
The "delay-speedup" asymmetry 208
Preference for improving sequences 208
The "date/delay effect" 209
Violations of independence and preference for spread 210
Implications of anomalies 211
Summary 212
Applications 213
Empirical estimates of discount rates 213
Alternative Intertemporal Choice Models 218
Time preference 220
Consumption reallocation 220
Intertemporal arbitrage 220
Concave utility 221
Uncertainty 221
Inflation 223
Expectations of changes in utility 223
Anticipatory utility 223
Visceral influences 224
What is time preference? 224
Hyperbolic discounting 226
Time-inconsistent preferences 226
Nature of hyperbolic discounting 227
Implications of hyperbolic discounting 230
Criticisms of the hyperbolic discounting approach 235
Modifying the instantaneous utility function 236
Habit-formation models 237
Prospect Theory models 237
Anticipatory utility models 238
Visceral influence models 239
More radical models 240
Projection bias 240
Mental accounting models 241
Multiple-self models 242
Dual-self models 244
The procedural approach 246
Conclusion 248
Policy implications 249
Individuals 249
Firms 250
Government 252
Summary 255
Applications 257
Price plans for gym memberships 257
The savings problem 258
The desire for rising consumption profiles 263
Strategic Interaction
Behavioral Game Theory 267
Nature of behavioral game theory 269
Elements of a game 269
Types of game 272
Behavioral game theory and standard game theory 274
Equilibrium 275
Discrete strategies 275
Continuous strategies 279
Mixed strategies 285
Pure and mixed strategies 285
Unpredictability 286
Randomization 287
Empirical studies of mixed-strategy equilibrium 290
Behavioral conclusions 292
Bargaining 293
Unstructured bargaining 294
Structured bargaining 296
Bargaining with incomplete information 298
Iterated games 300
Iteration and dominance 300
Beauty contest games 302
Iterations leading to decreased payoffs 303
Iterations leading to increased payoffs 304
Behavioral conclusions 305
Signaling 307
Nature and functions of signaling 307
Signaling and competition 307
Signaling and cooperation 309
Empirical findings from signaling games 311
Learning 312
Learning and game theory 312
Learning theories and models 313
Reinforcement learning 315
Belief learning 316
Experience-weighted attraction learning 317
Rule learning 318
Conclusions regarding learning theory 318
Summary 319
Applications 321
Bargaining and self-serving bias 321
Market entry in monopoly 322
Fairness and Social Preferences 325
The standard economic model 327
Nature 327
Anomalies 328
Fairness 330
The nature of fairness 330
Fairness games 332
Neuroeconomics and preferences for fairness 339
Factors affecting social preferences 341
Methodological and structural variables 341
Descriptive variables 349
Demographic variables 350
Modeling social preferences 353
Inequality-aversion models 354
The Fehr-Schmidt model 355
The Bolton-Ockenfels model 357
Reciprocity models 359
The Rabin model 359
The Falk-Fischbacher model 362
The role of evolutionary psychology 363
Competing versus underlying theories 364
Questionable status as a scientific theory 364
Individual development variations 364
Cross-cultural variations 365
One-shot and repeated games 365
Policy implications 366
Market clearing 366
Public goods 367
Crowding out of intrinsic incentives 368
Summary 370
Applications 371
The Wason Test 372
Public goods and free riding 376
Sales force compensation 378
Conclusion
Rationality 383
Nature of rationality 385
Defining rationality 385
Action and attitude 390
Criteria for rationality 391
Types of violation of rationality 392
Reasoning 393
Choice 394
Nature of utility 396
The role of visceral factors 396
Self-deception 399
Objections to violations of rationality 400
Trivializations 400
Misinterpretations 403
Inappropriate tests 405
Causes of irrationality 408
Emotional distress 408
Memory - homeostasis and allostasis 410
Cognitive dissonance 415
Threat to self-esteem 416
Failure of self-regulation 417
Decision fatigue 417
Interpersonal rejection 418
Foundations in evolutionary neurobiology 418
Consequences of irrationality 422
Deliberate self-harm 422
Trade-offs 423
Counterproductive strategies 424
Critique of expected utility theory as a normative theory 424
Limits to hedonic introspection 425
The adverse effects of hedonic introspection on well-being 426
The self-defeating nature of happiness-seeking 427
Summary 430
Applications 431
Drug addiction 431
Don't go to the supermarket when you are hungry 432
Pursuing happiness 435
The Future of Behavioral Economics 438
The agenda of behavioral economics 439
Good theories 439
Examples of behavioral revisions to the SEM 440
Criticisms of behavioral economics 442
A profusion of models 442
Lack of normative status 443
Methodology 444
Assumptions and conclusions 444
The role of evolutionary psychology 445
Parsimony and universality 447
Future directions for behavioral economics 449
Decision-making heuristics 449
The formation of social preferences 450
Learning processes 450
The theory of mental representations 451
The role of the emotions in decision-making 451
The role of neurobiology 452
Policy implications 453
Individuals 453
Firms 455
Governments 457
Applications 460
The effects of brain damage on decision-making 460
Born gay? 462
The bioeconomic causes of war 464
References 468
Index 503
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