What Aspect of the Product Is Being Described When a Used

question 85

Multiple Choice

What aspect of the product is being described when a used car sales person explains that each car comes with a one-year extended warranty and a two-year maintenance plan?

• A) Associated services
• B) Actual product
• C) Product style
• D) Product position
• E) Product concept

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Definitions:

Entrepreneur's Talent

The unique set of skills, creativity, and determination that an entrepreneur brings to identifying opportunities and building a business.

Implicit Costs

Implicit costs refer to the opportunity costs of using resources that a company already owns, without any direct payment, for its own production purposes.

Explicit Costs

Direct, out-of-pocket payments for wages, rent, materials, and other inputs required for the production of goods or services.

Total Cost

The total amount of money spent on creating goods or services, encompassing both constant and fluctuating expenses.