GENERAL KNOWLEDGE

Detailed explanation-1: -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-2: -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-3: -What Is a Customer? A customer is an individual or business that purchases another company’s goods or services. Customers are important because they drive revenues; without them, businesses cannot continue to exist.

Detailed explanation-4: -An example of “experience marketing” is a professional sporting event.

Detailed explanation-5: -While products can either be tangible or intangible, services are intangible. The differences between products and services are based on different factors, including tangibility, perishability, variability, and heterogeneity.