Designing a Service Is Very Similar to Designing a Product

question 44

True/False

Designing a service is very similar to designing a product.

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Definitions:

Amortization Period

The length of time over which a company gradually writes off the initial cost of an intangible asset.

Patent

A legal document granted by the government giving an inventor the exclusive right to produce, use, and sell an invention for a certain period of years.

Research And Development

A set of activities undertaken to improve existing products, services, or processes, or to create new ones.

Net Income

The amount of money remaining after all operating expenses, taxes, and interest are deducted from total revenue.