Which of the Following Is a Market Characteristic of Products

question 3

Multiple Choice

Which of the following is a market characteristic of products and services purchased within an organizational context?

• A)The focus is on delivery time and post-sale service.
• B)Raw and semi-finished goods are predominantly purchased.
• C)Demand for industrial products and services is derived.
• D)Goods and services are purchased on the basis of specifications that are technical in nature.

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Definitions:

Consumer Services

Services designed to meet the needs and expectations of consumers, encompassing a wide range of industries including retail, healthcare, and financial services.

Derived Demand

Demand for a good or service that arises from the demand for another good or service, for example, the demand for steel being derived from the demand for automobiles.

Industrial Products

Goods and services designed and marketed for use in production and operations, often sold to other businesses rather than end consumers.

Consumer Products

are goods sold directly to consumers for their personal or household use.