A product is a good, service, or idea consisting of a _________ that satisfies consumers' needs and is received in exchange for money or something else of value.
A)promise or commitment from the seller
B)bundle of tangible and intangible attributes
C)bundle of tangible attributes
D)bundle of intangible attributes
E)component parts

Question

Quizplus · Accepted Answer

A product can be a physical good (tangible attribute), a service (intangible attribute), or an idea (a combination of tangible and intangible attributes). It must satisfy consumers' needs and be exchanged for money or something else of value. Therefore, the best choice is B, a bundle of tangible and intangible attributes.

A Product Is a Good, Service, or Idea Consisting of a _________