The SERVQUAL Instrument Is Accepted as a Standard for Assessing

question 77

True/False

The SERVQUAL instrument is accepted as a standard for assessing different dimensions of services quality.

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Definitions:

Identical Products

Goods that are exactly the same in terms of quality, size, and features, making them indistinguishable from one another in the eyes of consumers.

Close Substitutes

Products or services that can serve as almost identical alternatives to one another, typically influencing consumer choice and market dynamics.

Monopoly

A market structure characterized by a single seller dominating the market, often resulting in limited competition and higher prices for consumers.

Patent

A legal document granting an inventor exclusive rights to produce, use, and sell their invention for a certain period of time.