Consumers Use Search, Experience, and Credence Properties to Evaluate Services

question 149

Multiple Choice

Consumers use search, experience, and credence properties to evaluate services. Which statement is most accurate?

• A)Legal services are high in search credence properties, but medical services are high in experience properties.
• B)Haircuts are high in experience properties, but barbershops are high in search properties.
• C)Jewelry is high in search properties, although diamonds are high in credence properties.
• D)Television repair is more difficult to evaluate than restaurant meals.
• E)Child care is equally high in search, experience, and credence properties because the decision is so important.

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Definitions:

Would-Be Suppliers

Potential vendors or suppliers that are interested in providing goods or services to a company.

Competition

The alternative firms that could provide a product to satisfy a specific market’s needs.

Organizational Markets

Markets that involve the sale of goods or services to other businesses, government bodies, or institutions, rather than to individual consumers.

Examples

Specific instances or cases that are used to illustrate a principle, method, or situation.