A product
A)consists of the benefits or customer value received by its sellers.
B)is the cluster of benefits that an organization promises customers to satisfy their needs.
C)is a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers' needs and is received in exchange for money or something else of value.
D)consists of items that the consumer purchases frequently, conveniently, and with a minimum of shopping effort.
E)is the set of intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value

Question

Quizplus · Accepted Answer

A product is a tangible or intangible item that is offered by a business to satisfy the needs of consumers in exchange for money or something else of value. This includes goods, services, and ideas that have a combination of tangible and intangible attributes that fulfill consumers' needs. Option A is incorrect because benefits or customer value are received by the consumers, not the sellers. Option B is incorrect because it refers to the promise of benefits made by a business, not the product itself. Option D is incorrect because it describes convenience goods, which are a type of product category, but not a definition of a product. Option E is incorrect because it describes services, which are a type of product category, but not a definition of a product.

A Product