In Terms of Managing Customer Expectations, What Are the Three

question 22

Essay

In terms of managing customer expectations, what are the three possible outcomes that may occur when expectations are compared to actual product performance? What should marketers do to manage expectations effectively, especially when customers' expectations are unrealistic? Should a firm attempt to delight its customers by constantly exceeding their highest expectations?

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Definitions:

Scarce Resources

Materials, goods, or services that are limited in availability, making them valuable and often leading to competition for their acquisition or use.

Competition

The activity or condition of competing, where entities strive to gain or win something by defeating or establishing superiority over others.

Tolerance Of Ambiguity

The ability of an individual to remain comfortable and positive in situations that are uncertain or unclear.

Structured Knowledge

Organized and systematic information arranged in a way that facilitates learning, understanding, and application.