9-In marketing, the term product refers to: Only tangible things, like a car. A distinct position...

9-In marketing, the term product refers to:

Only tangible things, like a car.

A distinct position owned in the minds of consumers.

A bundle of attributes that satisfies wants or needs.

Only intangible things, like car insurance.

Solutions

Expert Solution

Answer: (c) A bundle of attributes that satisfies wants or needs.

Explanation: In marketing, a product is defined as a bundle of both the tangible as well as the intangible attributes that satisfies the wants or needs of its customers. A product always has some value. It is usually purchased by the customers in exchange of money or of anything that holds value. In today’s business era, a good, service or an idea can all be referred as products.

keosha answered 2 years ago

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