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Customers That Have No Relevant Prior Experience with a Firm

question 16

True/False

Customers that have no relevant prior experience with a firm may base pre-purchase expectations on word-of-mouth comments, news stories, or the firm's own marketing efforts.


Definitions:

Breach

The violation of a law, duty, or other form of obligation, including breaking a contract or agreement.

Duty

A moral or legal obligation to perform an action or uphold a standard of behavior.

Liability

The legal responsibility for one's actions or omissions, potentially resulting in the requirement to compensate for damage or loss.

Constructive Trust

An equitable trust that is imposed in the interests of fairness and justice when someone wrongfully holds legal title to property.

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