When Marketers Say That Services Are __________, They Are Referring

question 69

Multiple Choice

When marketers say that services are __________, they are referring to the fact that services cannot be touched, tasted, or seen, like a pure product can.

• A) intangible
• B) inseparable
• C) variable
• D) perishable
• E) replenishable

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Definitions:

Nonpreferences

The absence of a preference or inclination towards any particular option or choice.

Emotion in Decision Making

The influence that feelings and emotional responses have on the process of making choices or judgments.

Escalation of Commitment

A pattern of behavior in which individuals continue to follow a failing course of action or invest more resources in a losing proposition, based on their hope or belief that the situation will improve.

Price War

A competitive strategy where companies continuously lower prices to outdo each other, often at the expense of profit margins, to capture a larger market share.