INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Product
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Marketing Mix
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Promotion
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Place
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Detailed explanation-1: -Key Terms. product: Any tangible or intangible good or service that is a result of a process and that is intended for delivery to a customer or end user.
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: -An intangible asset is a non-monetary asset that cannot be seen or touched. “Patents or goodwill are good examples, ‘’ says Florence Bessette, Business Advisor, BDC Advisory Services. Tangible assets are physical things. Examples include land, buildings, vehicles, furniture, and equipment.
Detailed explanation-4: -A product is anything that can be offered to a market that might satisfy a want or need by potential customers.