Intro to Business - Ch 1 Review Activity

Anything that can be bought or sold?

• Product

• Good

• Service

A physical item that can be touched

• Service

• Good

• Business

An individual or group who buys products; referred to as a client in a service business

• Marketer

• Manager

• Customer

An action or task that is performed, usually for a fee

• Product

• Service

• Good

The consumer market is comprised of customers who buy products for heir own use

• true

• false

The definition of a want is

• something a person must have to survive

• something a person desires to have but can live without

• something a person will have to satisfy a basic need

When Apple comes up with a new design, size, and/or features for the iPhone, it satisfies which utility

• form

• possession

• information

When Walgreen's updated their strategy to be located on every corner in America, it was satisfying which utility

• time

• place

• possession

Being able to go through the Drive-Thru at McDonald's at any time of day because it's open 24-hrs, satisfies which utility

• form

• place

• time

On Nike's website, I can find product descriptions, videos, size charts, pictures of every angle, and I can chat with a representative if I have additional questions. This satisfies which utility

• information

• place

• time