Final answer:
Customer satisfaction occurs when a product or service meets buyer expectations, but imperfect information can cause dissatisfaction. To mitigate this, companies use strategies like money-back guarantees. Product design also accounts for variable customer tastes and lifecycle changes.
Step-by-step explanation:
Customer satisfaction is achieved when products or services meet the buyer's expectations based on the information the buyer has. When information is imperfect, it can lead to buyer's remorse or hesitation in future purchases. Manufacturers attempt to address these gaps through various strategies, including money-back guarantees, that serve as a quality promise, incentivizing purchases despite uncertainty.
For example, online or mail-order sellers use guarantees to encourage sales, acknowledging that consumers can't physically examine products. Moreover, product design considers many factors, such as consumer preferences, which may shift over time, affecting satisfaction after the purchase. Customer tastes are unpredictable, and designers must account for this variability, like designing a car that appeals to different lifestyles and market demands.