Services Cannot Be Seen,tasted,felt,or Heard Before They Are Bought

question 107

Multiple Choice

Services cannot be seen,tasted,felt,or heard before they are bought.To reduce uncertainty,buyers will look for evidence of quality.They will draw inference about quality from place,people,and price they see.Therefore,the service provider's task is to "________."

• A) communicate value
• B) manage the evidence
• C) go full speed ahead
• D) provide high touch, high price
• E) none of the above

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Definitions:

Interest Rate

The percentage of a loan amount charged by the lender to the borrower for the use of assets, usually expressed as an annual percentage rate.

Net Capital Outflow

A contrast in the buying of foreign assets by residents of a country and the acquisition of its assets by non-residents.

NCO Curve

A hypothetical graphical representation that could relate to issues in international economics or capital flows, but requires clearer context for an accurate definition.

Capital Flight

The large-scale exodus of financial assets and capital from a nation due to economic or political instability.