Explain the relevance of search, experience, and credence ...

[Mollykgkg]

Explain the relevance of search, experience, and credence attributes as they apply to services.

Question 2

Sears at one time lost sight of its mission and jumped into markets such as real estate and financial services that did not fit its strengths or core operations. This most likely occurred because Sears lacked a mission statement with the appropriate:
 A) focus.
  B) strategic fit.
  C) stability.
  D) profitability.
  E) width.

[Hikerman221]

Answer to Question 1

 Search attributes  attributes that can be determined prior to purchase.


Experience attributes  attributes that can be evaluated only during and after the production process.


Credence attributes  attributes that cannot be evaluated confidently even immediately after receipt of the good or service.


Due to intangibility, services possess few search attributes and are primarily characterized by experience and credence attributes.

Answer to Question 2

E