A(n)________ Is Some Combination of Products,services,information,or Experiences Offered to Consumers

question 59

Multiple Choice

A(n) ________ is some combination of products,services,information,or experiences offered to consumers to satisfy a need or want.

• A) market offering
• B) value proposition
• C) demand satisfaction
• D) need proposition
• E) evoked set

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Definitions:

Insurance Contract

An Insurance Contract is a legal agreement between an insurer and the insured, outlining the policy terms, coverage limits, and premiums for the risk assumed by the insurer.

Insurer Accepts

The act of an insurance company agreeing to take on the risk and provide coverage as outlined in the insurance policy.

Binder

A temporary insurance contract that provides coverage until a permanent policy is issued.

Homeowner's Insurance

Insurance coverage that protects against damages to a person's home and possessions within the home, along with liability coverage for accidents that happen at the home or at the hands of the homeowner within the policy territory.