Information About the Quality of a Product Is

question 14

Multiple Choice

Information about the quality of a product is

• A)intangible, and therefore not subject to economic principles.
• B)impossible to objectively assess, and therefore not subject to economic principles.
• C)both beneficial to have and costly to obtain, and therefore subject to economic principles.
• D)subject to economic principles only when it is paid for, for example by subscribing to Consumer Reports or by hiring a financial advisor.

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Definitions:

New Customer

An individual or entity who has never previously purchased from or engaged with a business.

Service Quality Dimensions

The aspects through which customers evaluate the quality of a service, typically including reliability, assurance, tangibles, empathy, and responsiveness.

Selling Process

A sequence of steps taken by a seller to engage a buyer and facilitate a transaction.

Sales Staff

Employees within an organization responsible for selling products or services directly to customers.