Explain what is meant by a "combined guarantee."
What will be an ideal response?
Combined guarantees stem from the ambiguity inherent in traditional "full satisfaction" guarantees. The guarantee combines the wide scope of a full satisfaction guarantee with the low uncertainty of specific performance standards. The combined guarantee was shown to be superior to the pure full satisfaction or attribute-specific guarantee designs. Specific performance standards are guaranteed, but should the consumer be dissatisfied with any other element of the service, the full satisfaction coverage of the combined guarantee applies.
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Indicate whether the statement is true or false