Developing, Pricing, Promoting, and Delivering Services Is Challenging Because the Quality

question 43

Multiple Choice

Developing, pricing, promoting, and delivering services is challenging because the quality of a service is often _____.

• A)intangible
• B)invisible
• C)inconsistent
• D)inseparable

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Definitions:

Marginal Utility

The added satisfaction or utility a consumer gains from consuming an additional unit of a good or service.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, representing the benefit to consumers.

Marginal Utility

Marginal Utility is the additional satisfaction or utility received by consuming one more unit of a good or service.

Action Figures

Small, collectible figures often representing characters from movies, comic books, or video games, popular with both children and collectors.