Luther Has Done a Lot of Work Getting His Venture

question 32

Multiple Choice

Luther has done a lot of work getting his venture off the ground, and he wants to tell people what has been accomplished already.This is called:

• A)blowing your own horn
• B)an accomplishment statement
• C)a completed project report
• D)traction

Identify the characteristics that distinguish services from tangible goods.

Understand the classification of services based on their method of delivery (people-based vs. equipment-based).

Recognize the unique marketing concerns associated with different types of services.

Distinguish between for-profit and nonprofit organizations in the context of service delivery.

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Definitions:

Opportunity Cost

The detriment of not pursuing the second-top option when engaging in decision-making.

Manufacturing

The process of using machines, tools, and labor to produce goods for use or sale.

Export

Goods or services sold by a country to buyers in another country.

Import

The process of importing products or services from foreign countries for the purpose of selling them domestically.