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Goods, Services & Needs in Biz

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Goods, Services & Needs in Biz

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Key concepts in business mgmt

Created by

sarah ayyad
sarah ayyad
United Arab Emirates

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Goods, Services & Needs in Biz
 

Goods, Services & Needs in BizOnline version

Key concepts in business mgmt

by sarah ayyad
1

What is a good in business terms?

2

Which best describes a service?

3

What is a need in business terms?

4

What is a want in business terms?

5

Which example is a good?

6

Which example is a service?

7

Which term best contrasts with needs?

8

Which statement is true about goods and services?

9

In a business model, what do you call items customers buy for use?

10

In a service-based model, what is delivered to the customer?

11

Why study needs and wants in business?

12

Which pair best describes consumer expectations?

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Goods are tangible items; services are intangible.

Services involve actions, experiences, or performances rather than physical goods.

Needs are essential, unlike wants which are desires.

Wants are non-essentials shaped by preferences.

Laptops are tangible goods; the others are services.

Haircut is an intangible performance; others are goods.

Wants are desires beyond essentials.

Tangible vs intangible is the typical distinction.

Products or goods are the items purchased for use.

Services deliver performances or experiences, not physical goods.

Understanding needs/wants helps value proposition and strategy.

Wants shape demand; needs define essential offerings.

 
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