BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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good
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service
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slogan
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heterogeneous
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Detailed explanation-1: -Goods are tangible objects you can touch and then take home after purchase, whereas the time and effort that goes into providing services are not.
Detailed explanation-2: -A product is a tangible item that is put on the market for acquisition, attention, or consumption, while a service is an intangible item, which arises from the output of one or more individuals.
Detailed explanation-3: -Product definition: A product is a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is received in exchange for money or some other unit of value.
Detailed explanation-4: -Goods are tangible items that have monetary value and satisfy customers’ needs and wants. Examples of economic goods are cars, furniture, electronics, and clothing.