A(n)________ Gap Exists When a Firm Knows What It Needs

question 79

Multiple Choice

A(n) ________ gap exists when a firm knows what it needs to do to meet customers' service expectations, but sometimes fails to do it.

• A)knowledge
• B)communication
• C)standards
• D)empowerment
• E)delivery

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Definitions:

Benefits

Advantages or positive outcomes that result from actions, policies, or products.

Monopolistically Competitive Markets

Markets characterized by many sellers offering products that are similar but not identical, allowing for some degree of market power and price differentiation.

Product Differentiation

This is a strategy where companies distinguish their products from those of competitors on bases such as quality, design, or customer service.

Product Differentiation

A marketing strategy that businesses use to distinguish their products from similar offerings, through features, branding, quality, or other attributes.