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To determine: Differential between tangible and intangible product.
Introduction: A product is a substance, an item, an article which is produced for selling it to a customer in exchange of a monitory value. A product can be tangible or intangible.
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Answer to Problem 1QA
A product which be touched by human hand are termed as tangible product while product which cannot be touched or felt are termed as intangible product.
Explanation of Solution
Given information: Tangible and intangible category of products.
Companies produce products in the form of goods and services. The goods that can be touched or felt are termed as a tangible product while the product that cannot be touched or felt is termed as an intangible product such as service. Some of the difference between tangible and intangible product are as follows:
- Tangible products have physical existence while the intangible product does have any physical existence.
- A tangible product can be destroyed by natural or manmade calamities while the intangible product cannot be destroyed by natural or manmade calamities.
- Selling a tangible product is much easier than selling an intangible product.
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Chapter 8 Solutions
Marketing: Real People, Real Choices (9th Edition)
- How do companies create brand value for innovative products that disrupt existing markets?arrow_forwardWhy is the modern-day consumer more “conscious” of where their products may or may not come from?arrow_forwardHow do consumers and organizations go about buying, using, and disposing of our products?arrow_forward
- How does relationship marketing give companies a competitive edge?arrow_forwardWill the new product cannibalize sales of existing products or will it increase revenues by reaching new market segments?arrow_forwardTangible product is more difficult to sell than tangible product. Do you agree or disagree? Reason out.arrow_forward
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