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

---

Definitions:

Specific Needs

Particular requirements or desires of an individual or entity.

Henry Ford

American industrialist and founder of Ford Motor Company who revolutionized factory production with his assembly-line methods.

Market Orientation

A business philosophy where the focus is on identifying and meeting the needs and wants of customers through product innovation and customer satisfaction.

Natural Monopolies

A market structure where a single firm can provide a good or service to an entire market at a lower cost than if there were multiple firms due to economies of scale.