BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The goods and services continuum enables marketers to see the relative goods/services composition of total products. A product’s position on the continuum, in turn, enables marketers to spot opportunities. At the pure goods end of the continuum, goods that have no related services are positioned.

Detailed explanation-2: -A good is a tangible item that consumers desire or own. A service is not a tangible or physical entity but is still sought after by consumers. Often, a service can also be performed at a distance. Together the term goods and services refers to what consumers are consuming and spending money on.

Detailed explanation-3: -Goods are tangible, as in these have a physical presence and they can be touched, while services are intangible in nature. The purpose of both goods and services is to provide utility and satisfaction to the consumer.

Detailed explanation-4: -The word product can only be defined as a general term that includes services and goods. Marketing is an exchange: the company offers something (e.g., a flight), and the customer offers something in return (e.g., a payment).