Examlex
Using the drama metaphor, service actors need three characteristics to create the impression on customers. These three characteristics are:
Economic Profit
The difference between total revenue and total costs, including both explicit and implicit costs, representing the financial gain in excess of opportunity costs.
Brand Name
The name given to a product or service by its company to distinguish it from competitors' offerings, often protected as a trademark.
Total Market
The entire demand for a product or service within a particular industry, including all potential customers.
Differentiated Product
A product that is distinct from similar products offered by competitors due to unique features, branding, or quality.
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