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Refer to the information provided in Figure 4.6 below to answer the question(s) that follow.
Equilibrium in this market occurs at the intersection of curves S and D. Figure 4.6
-Refer to Figure 4.6. At equilibrium, consumer surplus is area
Service Quality
The assessment of how well a delivered service matches customer expectations, often used as a key performance metric in service industries.
Voice-of-customer
A term used to describe the process of capturing customers' preferences, experiences, needs, and expectations.
Quality Gap Analysis
An assessment method used to identify the difference between the perceived quality of products/services and the expected quality by customers.
Communication Gap
A discrepancy that occurs when a message is not accurately conveyed or understood between parties, leading to misunderstandings, misinformation, or conflicts.
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