A Service Is a Product in a Sense That It

question 101

Multiple Choice

A service is a product in a sense that it represents a bundle of benefits that can satisfy customer wants and needs,yet it does so __________.

• A) Without people
• B) Without price perceptions
• C) Without physical form
• D) Without time utility
• E) Without affecting the product experience

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Definitions:

Purchases Discount

A reduction in price given by a seller to a buyer for paying an invoice within a specified time frame.

Early Payment

A payment made before its due date, often incentivized by discounts or to avoid interest charges.

Early Payment Discount

An incentive offered by sellers to buyers for paying their invoices before the due date, typically to accelerate cash flows.

Gross Profit

Gross profit is the difference between revenue and the cost of goods sold (COGS), representing the profit a company makes after deducting the costs directly associated with producing its goods or services.