Question

Customer priorities tend to fall into two main categories: explicit and implicit. Match each priority to the category it best fits. Categories may have more than one match___________

Answer 1

Customer priorities are divided into explicit and implicit categories. Explicit priorities refer to clearly stated needs like wages and rent, while implicit priorities are underlying and include opportunity costs like unpaid labor and depreciation.

Step-by-step explanation:

Customer priorities can be categorized into two main types: explicit and implicit priorities. Explicit priorities are those that are clearly stated or expressed by the customer, often related to direct costs and tangible benefits. These include actual payments such as wages paid to employees or rent for office space. Implicit priorities, on the other hand, are not directly expressed or may be underlying expectations. They represent opportunity costs, such as the use of personal resources in a business without formal pay, or the depreciation of goods, materials, and equipment. Identifying and understanding both types of customer priorities can help businesses cater to customer needs more effectively and make better strategic decisions.