Reilly's Law of Retail Gravity Uses the Analogy of Gravity

question 15

True/False

Reilly's Law of Retail Gravity uses the analogy of gravity to estimate the attractiveness of a particular business to potential customers.

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Definitions:

Tangibles

Physical items or properties that can be seen, touched, and quantified, as opposed to intangible assets like patents or trademarks.

Service Quality

The evaluation of how well a delivered service meets or exceeds customers' expectations and needs.

Performance Gap

The difference between the actual performance of an organization and its potential or desired performance.

Standards Gap

The difference between existing standards and the newly established benchmarks that need to be met, often leading to a period of adjustment for organizations.