One of the Most Important Differences Between a Service Business

question 123

True/False

One of the most important differences between a service business and a retail business is in what is sold.

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Definitions:

Satisfaction

A measure of how products or services meet or surpass customer expectation.

Postpurchase Cognitive Dissonance

The psychological conflict or anxiety that consumers may experience after making a difficult purchase decision, often involving doubt about the purchase.

Cognitive Bias

is a systematic pattern of deviation from norm or rationality in judgment, whereby inferences about other people and situations may be drawn in an illogical fashion.

Psychological Risk

The potential for a purchase or consumption decision to lead to negative psychological outcomes, such as disappointment, regret, or a challenge to one's self-image.