Final answer:
When a store doesn't have a specific product, the customer should first ask the store to order it. If not possible, they could look for alternatives within the store, find it elsewhere, or give up. Firms like L.L. Bean rely on money-back guarantees and product quality to reduce the impact of imperfect information.
Step-by-step explanation:
If the store does not offer the specific one-of-a-kind product a customer is looking for, the customer's first option should be to ask the store to order the product. This option allows the customer to express interest in purchasing from the store, and gives the store an opportunity to fulfill the customer's needs. However, if this is not possible, the customer may then look for a similar product within the store or search for the product in other stores. Lastly, it might not be the most satisfactory outcome, but the customer could also choose to give up and leave the store if none of the other options are successful.
Companies like L.L. Bean, which primarily operate through mail order, telephone, or online sales, often face challenges due to imperfect information because customers cannot physically inspect products before purchase. In these cases, having a money-back guarantee and a reputation for quality can help mitigate the risks associated with imperfect information and can contribute to the success of mail-order firms.