Firms Can Close the ________ Gap by Matching Customer Expectations

question 93

Multiple Choice

Firms can close the ________ gap by matching customer expectations with actual service through use of marketing metrics.

• A)seniority
• B)knowledge
• C)standards
• D)delivery
• E)communication

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Definitions:

Confirmation Bias

Confirmation bias is the tendency to search for, interpret, favor, and recall information in a way that confirms one's preexisting beliefs or hypotheses, often leading to statistical errors in decision-making.

Mental Accounting

A concept in behavioral economics that refers to the different values people place on money, based on subjective criteria, affecting economic decision-making.

Confirmation Bias

The tendency to search for, interpret, favor, and recall information in a way that confirms one’s preexisting beliefs or hypotheses, often leading to statistical errors.