What Are the Three Aspects of the Product/service Element of the Marketing

question 127

Essay

What are the three aspects of the product/service element of the marketing mix that warrant special attention by service marketers?

---

Definitions:

Contribution Margin

The difference between sales revenue and variable costs of a product or service, often expressed as a percentage of sales revenue.

Variable Cost

Expenses that fluctuate in direct proportion to the amount of production or output, like labor and materials.

Fixed Costs

Expenses that do not change in total regardless of changes in the volume of goods or services produced or sold.

Variable-rate

A term used to describe a financial instrument or system where the interest rate can change over time based on predetermined conditions or an index.