Which of the Following Is Correct with Regard to the Concept

question 176

Multiple Choice

Which of the following is correct with regard to the concept of a "product"?

• A) The product is made up of the visible features and benefits.
• B) When consumers buy a product, they are also buying an image and a reputation.
• C) Products are normally classified into two basic groups: those that are consumed in a short period of time and those that last a long time.
• D) The value package is the objective features of the product.
• E) For a computer, most items in the value package are tangible.

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Definitions:

Return On Investment

A measure used to evaluate the efficiency of an investment, calculated by dividing the benefit (or return) of an investment by its cost.

Investment Opportunity

An asset or item that presents a potential for profitable returns, as in interest, income, or appreciation in value.

Margin

The difference between the selling price of a product and its cost of production, often expressed as a percentage of sales.

Operating Data

Information related to the daily operations of a business, which can include sales figures, production costs, and inventory levels.