Final answer:
Establishing a good reputation is essential to convince customers to make a purchase.
Step-by-step explanation:
In order to convince customers to hand over their hard-earned cash, a key characteristic must be establishing a good reputation. When buyers know that a firm is concerned about its reputation, they are less likely to worry about receiving a poor-quality product. For example, a well-established grocery store with a good reputation can often charge a higher price than a temporary stand at a local farmer's market.