Answer the following: 3. What is meant by the term “other customers” and why is their influence so much greater for services compared to goods? 4. Why do consumers of service perceive higher levels of risk associated with their purchase compared to goods purchase. 5. What are the marketing challenges that arose as a result of the intangibility of services? Discuss in detail.

Answer the following: 3. What is meant by the term “other customers” and why is their influence so much greater for services compared to goods? 4. Why do consumers of service perceive higher levels of risk associated with their purchase compared to goods purchase. 5. What are the marketing challenges that arose as a result of the intangibility of services? Discuss in detail.

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter22: Frontiers Of Microeconomics

Section: Chapter Questions

Problem 3PA

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