The definition of product and the differences between consumer products and industrial products Product: A product can be defined as a thing that could be provided in the market for acquisition, attention, consumption, or for utilization, which may satisfy a need or a want.

Question

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Answer 1

Question

Chapter 8, Problem 8.1DQ

Summary Introduction

To determine: The definition of product and the differences between consumer products and industrial products

Product:

A product can be defined as a thing that could be provided in the market for acquisition, attention, consumption, or for utilization, which may satisfy a need or a want.

Expert Solution & Answer

Explanation of Solution

The difference between consumer products and industrial products depends on the purpose for the product type that can be purchased. The following are the some of the differences:

Consumer products are utilized by the consumer whereas industrial products are manufactured to make other products.
Computer and furniture are the examples of consumer products. Building materials and office supplies are the examples of industrial products.
There is huge number of customers for consumer product but the quantity purchased is significantly low. In case of industrial product, the number of customers is low but the quantity purchased is high.

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Answer 2

Question

Chapter 8, Problem 8.1DQ

Summary Introduction

To determine: The definition of product and the differences between consumer products and industrial products

Product:

A product can be defined as a thing that could be provided in the market for acquisition, attention, consumption, or for utilization, which may satisfy a need or a want.

Expert Solution & Answer

Explanation of Solution

The difference between consumer products and industrial products depends on the purpose for the product type that can be purchased. The following are the some of the differences:

Consumer products are utilized by the consumer whereas industrial products are manufactured to make other products.
Computer and furniture are the examples of consumer products. Building materials and office supplies are the examples of industrial products.
There is huge number of customers for consumer product but the quantity purchased is significantly low. In case of industrial product, the number of customers is low but the quantity purchased is high.

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Answer 3

Question

Chapter 8, Problem 8.1DQ

Summary Introduction

To determine: The definition of product and the differences between consumer products and industrial products

Product:

A product can be defined as a thing that could be provided in the market for acquisition, attention, consumption, or for utilization, which may satisfy a need or a want.

Expert Solution & Answer

Explanation of Solution

The difference between consumer products and industrial products depends on the purpose for the product type that can be purchased. The following are the some of the differences:

Consumer products are utilized by the consumer whereas industrial products are manufactured to make other products.
Computer and furniture are the examples of consumer products. Building materials and office supplies are the examples of industrial products.
There is huge number of customers for consumer product but the quantity purchased is significantly low. In case of industrial product, the number of customers is low but the quantity purchased is high.

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Answer 4

Question

Chapter 8, Problem 8.1DQ

Summary Introduction

To determine: The definition of product and the differences between consumer products and industrial products

Product:

A product can be defined as a thing that could be provided in the market for acquisition, attention, consumption, or for utilization, which may satisfy a need or a want.

Expert Solution & Answer

Explanation of Solution

The difference between consumer products and industrial products depends on the purpose for the product type that can be purchased. The following are the some of the differences:

Consumer products are utilized by the consumer whereas industrial products are manufactured to make other products.
Computer and furniture are the examples of consumer products. Building materials and office supplies are the examples of industrial products.
There is huge number of customers for consumer product but the quantity purchased is significantly low. In case of industrial product, the number of customers is low but the quantity purchased is high.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 8, Problem 8.1DQ

Summary Introduction

To determine: The definition of product and the differences between consumer products and industrial products

Product:

A product can be defined as a thing that could be provided in the market for acquisition, attention, consumption, or for utilization, which may satisfy a need or a want.

Expert Solution & Answer

Explanation of Solution

The difference between consumer products and industrial products depends on the purpose for the product type that can be purchased. The following are the some of the differences:

Consumer products are utilized by the consumer whereas industrial products are manufactured to make other products.
Computer and furniture are the examples of consumer products. Building materials and office supplies are the examples of industrial products.
There is huge number of customers for consumer product but the quantity purchased is significantly low. In case of industrial product, the number of customers is low but the quantity purchased is high.

Answer 6

Chapter 8, Problem 8.1DQ

Summary Introduction

To determine: The definition of product and the differences between consumer products and industrial products

Product:

A product can be defined as a thing that could be provided in the market for acquisition, attention, consumption, or for utilization, which may satisfy a need or a want.

Expert Solution & Answer

Explanation of Solution

The difference between consumer products and industrial products depends on the purpose for the product type that can be purchased. The following are the some of the differences:

Consumer products are utilized by the consumer whereas industrial products are manufactured to make other products.
Computer and furniture are the examples of consumer products. Building materials and office supplies are the examples of industrial products.
There is huge number of customers for consumer product but the quantity purchased is significantly low. In case of industrial product, the number of customers is low but the quantity purchased is high.

Answer 7

Chapter 8, Problem 8.1DQ

Summary Introduction

To determine: The definition of product and the differences between consumer products and industrial products

Product:

A product can be defined as a thing that could be provided in the market for acquisition, attention, consumption, or for utilization, which may satisfy a need or a want.

Answer 8

Expert Solution & Answer

Explanation of Solution

The difference between consumer products and industrial products depends on the purpose for the product type that can be purchased. The following are the some of the differences:

Consumer products are utilized by the consumer whereas industrial products are manufactured to make other products.
Computer and furniture are the examples of consumer products. Building materials and office supplies are the examples of industrial products.
There is huge number of customers for consumer product but the quantity purchased is significantly low. In case of industrial product, the number of customers is low but the quantity purchased is high.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Ch. 8 - Prob. 8.1DQ Ch. 8 - Prob. 8.2DQ Ch. 8 - Prob. 8.3DQ Ch. 8 - Prob. 8.4DQ Ch. 8 - Prob. 8.5DQ Ch. 8 - Prob. 8.6CTE Ch. 8 - Prob. 8.7CTE Ch. 8 - Prob. 8.8CTE Ch. 8 - Prob. 8.9MA Ch. 8 - Prob. 8.10MA

The definition of product and the differences between consumer products and industrial products Product: A product can be defined as a thing that could be provided in the market for acquisition, attention, consumption, or for utilization, which may satisfy a need or a want.

Concept explainers

To determine: The definition of product and the differences between consumer products and industrial products

Product:

A product can be defined as a thing that could be provided in the market for acquisition, attention, consumption, or for utilization, which may satisfy a need or a want.

Explanation of Solution

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Chapter 8 Solutions

The definition of product and the differences between consumer products and industrial products Product: A product can be defined as a thing that could be provided in the market for acquisition, attention, consumption, or for utilization, which may satisfy a need or a want.

Concept explainers

To determine: The definition of product and the differences between consumer products and industrial products Product: A product can be defined as a thing that could be provided in the market for acquisition, attention, consumption, or for utilization, which may satisfy a need or a want.

Explanation of Solution

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Chapter 8 Solutions

To determine: The definition of product and the differences between consumer products and industrial products

Product:

A product can be defined as a thing that could be provided in the market for acquisition, attention, consumption, or for utilization, which may satisfy a need or a want.