physical facilities, equipment, and appearance of personnel); and • empathy (customers expect employees to express an appropriate level of caring and attention). Not all customers can aff ord the same...

physical facilities, equipment, and appearance of personnel); and • empathy (customers expect employees to express an appropriate level of caring and attention). Not all customers can aff ord the same grade of product or service. Grade is the quality level that a product or service has relative to the inclusion or exclusion of characteristics (especially price) to satisfy customer needs. Customers try to maximize their satisfaction within the context of their willingness and ability to pay. Th ey view a product or service as a value