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Questions and Answers
What did Peter Drucker suggest about a product before it is bought or consumed?
What did Peter Drucker suggest about a product before it is bought or consumed?
- It loses its value.
- It becomes a tangible entity.
- It gets consumed after purchase.
- It remains mere raw material or an intermediate. (correct)
According to Philip Kotler, what is a product?
According to Philip Kotler, what is a product?
- Something that transforms into raw material.
- Anything that can be offered to satisfy a need or a want. (correct)
- A physical tangible item only.
- Something that loses value once bought.
What does William Stanton consider as part of a product's attributes?
What does William Stanton consider as part of a product's attributes?
- Colour and price only.
- Services and packaging along with other attributes. (correct)
- Nothing beyond the physical form.
- Tangible elements exclusively.
What influences a consumer's decision to make a purchase according to the text?
What influences a consumer's decision to make a purchase according to the text?
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In the context of products, what does the term 'intangible benefits' refer to?
In the context of products, what does the term 'intangible benefits' refer to?
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How does the text describe products in terms of customers' needs?
How does the text describe products in terms of customers' needs?
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