BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Detailed explanation-1: -A service is an act of labour or a performance that does not produce a tangible commodity and does not result in the customer’s ownership of anything. Its production may or may not be tied to a physical product.
Detailed explanation-2: -There are many different pricing strategies, but Competitive Pricing, Cost-plus Pricing, Markup Pricing and Demand Pricing are four common methods for small business owners to use.
Detailed explanation-3: -The service concept can best be described as the way in which an organization would like to have its services perceived by its stakeholders. [i] It describes the non-tangible aspects of service delivery and is an integral part of the value proposition of service providers.