MANAGEMENT

Detailed explanation-1: -Product decisions involve the goods, services, or ideas used to satisfy consumer needs. Designing, Naming, and packaging a product are major considerations. Price decisions involve the exchange process between the customer and the seller.

Detailed explanation-2: -Defining Marketing We define marketing as the process of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate satisfying exchange relationships with customers in a dynamic environment.

Detailed explanation-3: -A product can be anything that a company offers to satisfy consumer needs and wants; the possibilities include not only physical goods, but also services and ideas. A product also includes all the attributes that consumers associate with it, such as the name, image and guarantees.

Detailed explanation-4: -Services are intangible items that have monetary value and satisfy customers’ needs and wants. Examples of economic services are banks, movie theaters, and accounting services.