whats the extent of search quality, experience quality, and credence quality for each of the following...

whats the extent of search quality, experience quality, and credence quality for each of the following situations:

a. Buying a personal computer

b. Applying to graduate school

c. Setting up a retirement program

d. Dining at a local restaurant e. Visiting a theme park

Expert Solution

Answer:

Buying the personal computer: In this situation the search quality is high as products are expensive and there are number of brands with different configuration and prices that are available. Hence the customers make a deep research before buying. The experience quality is also high as customers actually understand the quality and value of a product after using it. Credence quality is also very high as the purchases are often made based on the brand image of the company at the marketplace.
Applying to a graduate school: Search quality is high as there are many options with different fees and facilities available. The students make a proper research before deciding a graduate school. The experience quality is also high as the quality of education and related facility the students get decide their perception about the school. The reputation of the graduate school is a major factor in decision making by the students and hence the credence quality is high.
Setting up retirement program: The search quality is high as there are many options that have different types of offerings. The experience quality is moderate as customers know beforehand that what they are going to get on a routine basis. Only factors like delays in payments can spoil the experience. Reputation of the retirement program provider matters as it is a financial product, hence credence matters.
Dining in a restaurant: Search quality is moderate as the taste of the food can only be established after consuming but things like prices can be known beforehand. The experience quality is high as the taste of the food and service quality is only experienced. The credence quality is high as most people select restaurants based on the experience of others.
Visiting a theme park: Search quality is moderate as except for price other attributes can only be known after experience. Experience quality is high as the product/service offered by theme park can only be evaluated by experience. The credence quality is high as most people select theme parks based on the recommendations of others.

keosha answered 1 year ago

whats gender achievement? how men and women react? bring some personsl experience

Whats the purpose for each of the following , how can u compare between them and...

Whats the purpose for each of the following , how can u compare between them and give simple example for each of them (In simple words) Pro Forma Cash Flow Pro Forma Income Statements Pro Forma Balance Sheet Break-Even Analysis

What are search goods, experience goods and post-experience goods? Should the government intervene to reduce the...

What are search goods, experience goods and post-experience goods? Should the government intervene to reduce the information asymmetry on search goods, experience goods and post-experience goods? Please explain.

whats the type of loops and give example of each one ?

Some healthcare organizations post their performance/quality plan on the web. Search the Internet for quality plans...

Some healthcare organizations post their performance/quality plan on the web. Search the Internet for quality plans from two different types of healthcare organizations (e.g., hospital, long-term care facility, ambulatory clinic, health plan). You may need to use search terms other than quality management plan, such as performance improvement plan, patient safety plan, or quality plan. Summarize the similarities and differences between the two plans. Please list your references

Explain how the following three terms related to each other: Quality planning, quality assurance and quality...

Explain how the following three terms related to each other: Quality planning, quality assurance and quality control

Describe the following types of epidemiology. Search the Internet for an example of each type of...

Describe the following types of epidemiology. Search the Internet for an example of each type of epidemiological study and briefly explain each example. Must provide the reference. (0.75 pts) • Molecular and genetic epidemiology • Environmental epidemiology • Occupational epidemiology • Injury epidemiology

Whats your impression of policy and politics changed? How do you see quality and safety impacting...

Whats your impression of policy and politics changed? How do you see quality and safety impacting our role as professionals? How do you see the public and the public's health?

Examine the factors influencing the level and extent of compliance with audit quality standards (ISA 220...

Examine the factors influencing the level and extent of compliance with audit quality standards (ISA 220 and ISQC 1) by auditing firms in Ghana.

Sammy, Inc. manufactures motor scooters. For each of the following examples of quality cost, indicate which of the following quality cost categories each example represents

Sammy, Inc. manufactures motor scooters. For each of the following examples of quality cost, indicate which of the following quality cost categories each example represents: prevention costs, appraisal costs, internal failure costs, or external failure costs. 1. Preventive maintenance on machinery 2. Direct materials, direct labor, and manufacturing overhead incurred to rework a defective scooter that is detected in-house through inspection. 3. Lost profits form lost sales if the company's reputation is hurt because customers previously purchased a poor- quality scooter. 4. Cost of...

Question