To determine: The general categories of products.
Introduction: A product is a good or service that can be purchased or experienced. It can be substantial or in virtual or digital frame. Each product is made at a cost and each is sold at a cost.
Explanation of Solution
The general categories of products are as follows:
A product is all that one gets in a trade, including all tangible and intangible properties and expected advantages. If the product is a genuine, the cost may likewise incorporate such services as conveyance, establishment, guarantees, and preparing. If the product is a service, the buyer may acquire, as on account of managing a lawyer, the exhortation looked for as well as a money related reward because of that counsel.
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Chapter 12 Solutions
Foundations of Business - Standalone book (MindTap Course List)
- Explain the difference between a product line and a product mix and provide examples to illustrate each one.arrow_forwardDefine entering products. • Identify the types/categories of entering products • Provide a suitable example of each.arrow_forwardExplain functional modifications of the product.arrow_forward
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