INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Product
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Packaging
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Price
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Promotion
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Detailed explanation-1: -Product – This element refers to a tangible (physical product) or intangible (service or idea) item that satisfies the customer’s needs or wants.
Detailed explanation-2: -A product can be defined as-“A good, idea, method, information, object, or service that is the end result of a process and serves as a need or want satisfier. It is usually a bundle of tangible and intangible attributes (benefits, features, functions, uses) that a seller offers to a buyer for purchase.”
Detailed explanation-3: -Product. A product is seen as an item that satisfies what a consumer in the target market needs or wants. It is a tangible good or an intangible service.
Detailed explanation-4: -The four Ps are a “marketing mix” comprised of four key elements-product, price, place, and promotion-used when marketing a product or service.