Final answer:
A layaway option can resolve customer concerns about immediate payment and the risk of purchasing unseen goods by allowing customers to pay over time and ensuring product availability. This approach, along with money-back guarantees and a reputation for quality, helps businesses deal with imperfect information in remote sales situations.
Step-by-step explanation:
A layaway option could satisfy a customer's objections regarding the immediate full payment for a product and the risk of purchase without seeing the goods firsthand. In layaway, customers can reserve a product by paying a small deposit and then making payments over time until the full price is covered, at which point they can take possession of the item. This option addresses two main issues: affordability over time and the assurance that the product will be available once paid for, even if immediate full payment is not possible.
Businesses often employ strategies like offering a money-back guarantee or building a reputation for quality to overcome hurdles associated with imperfect information. When customers shop through mail-order catalogs or online websites, as is the case with a company like L.L. Bean, these reassurances are crucial for convincing customers to make a purchase despite not being able to physically examine the products.