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5 Examples of a Credence Good

 , updated on July 28, 2017
A credence good is a product or service that is difficult for the customer to value, even after it has been consumed. Customers may think that a credence good is high quality when it is in fact low quality. Alternatively, customers may be dissatisfied with a high quality credence good because it is difficult for them to see its value. It is common for customers to seek a second opinion for a credence good to evaluate its quality. The following are illustrative examples of a credence good.

Medical Services

It can be difficult for patients to evaluate the quality of medical advice and treatments.

Home Repairs

Certain types of home repairs such as plumbing are difficult to evaluate.

Health

Products that claim to be healthy.

Education

The quality of education.

Consulting

Expert advice that is difficult for the client to evaluate such as legal advice.
Overview: Credence Good
Type
Definition
A product or service that is difficult for the customer to value, even after it has been consumed.
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Quality

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Benchmarking
Branding
Conformance Quality
Cost Of Poor Quality
Credence Quality
Critical To Customer
Critical To Quality
Customer Satisfaction
Data Quality
Defect Density
Defect Rate
Defensive Design
Design Quality
Document Quality
Durability
Ease Of Use
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Figure Of Merit
Fit For Purpose
Imperfection
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Non-Functional Testing
Operational Testing
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Planned Obsolescence
Pokayoke
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Quality
Quality Assurance
Quality Control
Quality Culture
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Quality Improvement
Quality Management
Quality Metrics
Quality Objectives
Quality Of Life
Quality Policy
Quality Requirements
Quality Testing
Recovery Paradox
Regression Testing
Reliability
Reliability Engineering
Resilience
Reusability
Service Quality
Types of Quality
Usability
Acceptance Testing
Work Quality
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The primary types of service quality.

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Quality Objectives

The definition of quality objectives with examples.

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A definition of credence quality.

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