product is a good,service,or idea consisting of a __________ that satisfy consumers' needs and is received in exchange for money or something else of value.
A) promise or commitment exchanged between a seller and a buyer
B) bundle of tangible and intangible attributes
C) bundle of tangible attributes
D) bundle of intangible attributes
E) bundle of tangible and intangible experiences

Question

Quizplus · Accepted Answer

A product can be a good, service, or idea, but in any case, it consists of a bundle of tangible and intangible attributes that satisfy consumers' needs and are exchanged for money or something else of value. This bundle of attributes can include physical features, performance, design, packaging, branding, reputation, customer service, and various benefits and emotions that the product provides to the customer. Therefore, A, C, D, and E are not as accurate as B, which covers all the possible components of a product.

Product Is a Good,service,or Idea Consisting of a __________ That