Commercial Applications
A …………… is technology based whereas a …………… is person-based.
- Sales, product
- Product, market
- Product, promotion
- Product, service
Answer
Product, service
Reason — A product is technology based — its quality depends largely on the production technology used (e.g., manufacturing of a car). A service is person-based — its quality depends largely on the skill of the person providing the service (e.g., a mechanic repairing a car).
Related Questions
In the Production-Oriented Stage, businesses operated on the assumption that supply would create its own demand.
- True
- False
Which of the following is not a service?
- Insurance
- Warehousing
- Transportation
- None of these
Which of the following products are used for further production of goods and services.
- Consumer products
- Industrial products
- Financial products
- None of these
The asset which can only be perceived indirectly such as an insurance policy is called ……………
- Tangible product
- Intangible product
- Service
- None of these