BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Search qualities are the attributes that may be evaluated prior to purchase, as the customer learns about the competitive offerings. For example, when you go to a department store to purchase socks, you can just look at a pair and know before buying them whether you’ll like them.

Detailed explanation-2: -Generally, consumers evaluate the alternatives based on a number of attributes of the product. Looks, durability, quality, price, service, popularity, brand, and social media reviews are some of the factors consumers consider. The market offers many products that can solve the problem of a consumer.

Detailed explanation-3: -Which of the following is true about competitive pricing? It is at a medium level, somewhere in between extremes, using competitors’ prices as a starting point, and adjusting from there.

Detailed explanation-4: -Experience attributes are those that require some trial or consumption before evaluation. Credence qualities are those that are difficult to judge, even post-consumption. Goods are dominated by credence and experience qualities, and services are mostly comprised of experience and search qualities.

Detailed explanation-5: -Experience qualities are aspects that can only be appreciated following a purchase or while being consumed, such as flavor, feel, and comfort. Hence, the option is considered correct.