Customers Evaluate Services Differently from Physical Goods Because Services Tend

question 36

True/False

Customers evaluate services differently from physical goods because services tend to be inherently low in search and credence qualities but high in experience qualities.

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Definitions:

Corporate Blog

An official blog owned and published by a company to communicate directly with its customers or clients, often including updates, relevant industry news, and insights.

Time Value

The concept that money available at the present time is worth more than the same amount in the future due to its potential earning capacity.

Average Opportunity Cost

The value of the foregone alternative that was not chosen when making a decision, averaged over all possible options.

Employee Hourly Wage

The amount of money that an employee is paid for each hour of work.