Commercial Applications
Assertion (A): A product can be touched, seen, and physically possessed.
Reason (R): Tangibility is a key characteristic of a product.
- A is true but R is false
- A is false but R is true
- Both A and R are true and R explains A.
- Both A and R are true but R does not explain A.
Markets & Marketing
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Answer
Both A and R are true and R explains A.
Reason — A product is tangible, hence it can be seen, touched and physically possessed. Tangibility being a key characteristic of a product is the very reason why it can be physically perceived. Therefore, the Reason correctly explains the Assertion.
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Related Questions
Choose the correct statement.
- Marketing is the process of transferring the ownership from producer to buyer.
- Selling is a wider term than marketing.
- Marketing seeks to create demand, to satisfy the customers, to increase markets shares etc.
- None of the above
Which type of market is most likely to involve face-to-face interaction but does not require a physical retail setting?
- Mail Order Market
- Catalogue Market
- Automatic Vending Machine Market
- Direct Sales Market
Assertion (A): Services are perishable in nature.
Reason (R): Services cannot be stored for future use, unlike physical products.
- A is true but R is false
- A is false but R is true
- Both A and R are true and R explains A.
- Both A and R are true but R does not explain A.
…………… means exchange of a product, or service between a buyer and a seller while …………… means all the activities involved in planning, pricing, promoting and distributing want satisfying products and services.
- Sales, selling
- Market, marketing
- Product, promotion
- Cost, pricing