Respond to the Discussion A discussion response is meant to allow a person time for personal reflection in order to respond thoughtfully to a topic following a group discussion in which ideas and thoughts were exchanged on a particular topic or issue. Discussion:  Supply and demand is something that companies must understand and adapt with if they want to succeed. For a service specifically, this can be difficult because services cannot be stocked, or inventoried and they are often intangible which makes measuring levels of service subjective and sometimes difficult (Wirtz & Lovelock, 2018). Supply is the amount of service that can be provided at a certain time, and demand is the customer’s need of that service. Demand can sometimes be difficult to determine with a service. For example, a restaurant knows that they will probably be busier during prime lunch hours, and less busy from 2-5 before dinner. This means that they can staff accordingly. However, they never know quite how busy or high the demand will be. For example, they could have 20 customers walk in within a 3-minute period and become extremely busy. But for the rest of the lunch hours, only have 3 more people walk in and be slow. This makes demand hard to plan for. The restaurant can plan to have a lot of staff ready during prime lunch hours, but might have to let a few people off early if demand is slower.

MARKETING 2018
19th Edition
ISBN:9780357033753
Author:Pride
Publisher:Pride
Chapter1: An Overview Of Strategic Marketing
Section1.2: Dollar Shave Club: The Company For Men
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Respond to the Discussion

A discussion response is meant to allow a person time for personal reflection in order to respond thoughtfully to a topic following a group discussion in which ideas and thoughts were exchanged on a particular topic or issue.

Discussion: 

Supply and demand is something that companies must understand and adapt with if they want to succeed. For a service specifically, this can be difficult because services cannot be stocked, or inventoried and they are often intangible which makes measuring levels of service subjective and sometimes difficult (Wirtz & Lovelock, 2018). Supply is the amount of service that can be provided at a certain time, and demand is the customer’s need of that service. Demand can sometimes be difficult to determine with a service. For example, a restaurant knows that they will probably be busier during prime lunch hours, and less busy from 2-5 before dinner. This means that they can staff accordingly. However, they never know quite how busy or high the demand will be. For example, they could have 20 customers walk in within a 3-minute period and become extremely busy. But for the rest of the lunch hours, only have 3 more people walk in and be slow. This makes demand hard to plan for. The restaurant can plan to have a lot of staff ready during prime lunch hours, but might have to let a few people off early if demand is slower.

 

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