Answer :
Final answer:
Being wrong about customer expectations can lead to decreased customer satisfaction, loss of customers, and negative word-of-mouth. Increased brand loyalty is not a result of being wrong about customer expectations.
Explanation:
Being wrong about customer expectations can have significant negative impacts on a business. Among the potential consequences are:
- Decreased customer satisfaction: This occurs when the product or service fails to meet the expectations set by the customer, leading to disappointment.
- Loss of customers: Dissatisfied customers are more likely to seek alternatives, leading to customer attrition.
- Negative word-of-mouth: Unsatisfied customers may share their negative experiences with others, potentially harming the business's reputation.
Increased brand loyalty is the contrary result of meeting or exceeding customer expectations, and it's unlikely to stem from being wrong about them.
Understanding factors such as consumer expectations, change in the price of related goods, and the number of buyers can help businesses predict and meet customer expectations.