Final answer:
When customer expectations are not met due to poor information or design, satisfaction can be affected. Sellers offer guarantees and warranties to reassure customers, and some businesses will even provide unsolicited refunds or exchanges to maintain a positive customer relationship.
Step-by-step explanation:
Situations where customers have expectations of a product or service that do not align with what is provided can lead to dissatisfaction. This often stems from poor design decisions or inadequate information available to the buyer at the time of purchase. Beliefs about satisfaction from a good or service are based on this information, which, if imperfect or unclear, can result in buyers regretting their purchases or hesitating to make future ones. To mitigate these issues, firms offer various reassurances such as guarantees, warranties, and service contracts, which can be explicit or implicit. Some businesses, like movie theaters and restaurants, may not market a money-back guarantee or exchange policies, but will nonetheless offer them to maintain customer satisfaction and loyalty.