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2 years ago

One of the biggest non-monetary costs for hospitality customers is ____________.

Business

1 answer:

fomenos2 years ago

6 0

One of the biggest non-monetary costs for hospitality customers is time.

<h3>What is non-monetary costs?</h3>

When a buyer purchases a product, he not only spends money, but also other resources.
These are referred to as non-monetary expenses, and they include time, convenience, effort, and psychological costs.
Economists have recently come to understand that consumers make other trade-offs in order to receive goods and services in addition to paying a monetary price.
As a result, demand is influenced by other expenses in addition to the monetary price.
The idea of non-monetary expenses has grown in significance in social marketing.
Non-monetary costs are another type of sacrifice that customers feel when they purchase and use a service.

Learn more about non-monetary costs here:

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