Question

Service quality greatly depends on the quality of the buyer-seller interaction during the service encounter. this is known as​ __________.

Answer 1

The quality of the buyer-seller interaction, which is important for determining service quality, is known as the service encounter. Imperfect or unclear information can create a barrier to market participation for both buyers and sellers. To overcome this, businesses may offer assurances like a money-back guarantee to encourage buyer confidence.

Step-by-step explanation:

Service quality greatly depends on the quality of the buyer-seller interaction during the service encounter. This interaction is known as the service encounter or the'moment of truth' where service is actually delivered and customer satisfaction is determined. It's at this point that the information asymmetry between buyer and seller can have the most impact. When the information available to the buyer or seller is imperfect or unclear, it can create uncertainty, which may lead to dissatisfaction, discouraging both buyer participation and seller engagement in the market.

In cases where the quality of products and services can't be easily assessed by the buyer beforehand, businesses may offer things like a money-back guarantee to signal confidence in their offerings and reduce the perceived risk for the buyer. This is particularly significant for purchases made without the buyer having a chance to experience the product first, such as online purchases or mail-order catalog sales.

Answer 2

Service quality greatly depends on the quality of the buyer-seller interaction during the service encounter. This is known as​ interactive marketing. Thus type of marketing is also called trigger-based or event-driven marketing and includes a direct communication between the customers and the company.