According to an example provided in the text, the ANZ Bank offered to pay customers $5 if they were required to wait more than five minutes for service. This tactic was not successful because:
A) the demands of speedy service provision created high levels of stress for employees, leading to employee dissatisfaction.
B) customers began to focus on the time resulting in perceptions of even longer waiting times.
C) the Bank had to pay too many customers with serious consequences for profitability.
D) five minutes was not within the typical ANZ customer's zone of tolerance.
E) a rival bank enjoyed average wait times that were below the five minute threshold.

Question

Quizplus · Accepted Answer

The ANZ Bank's tactic of offering to pay customers $5 if they were required to wait more than five minutes for service was not successful because customers began to focus on the time resulting in perceptions of even longer waiting times. This shows that offering incentives for speedy service provision can backfire by increasing customer perceptions of waiting time.

According to an Example Provided in the Text, the ANZ