It refers to converting raw materials into products that suit the preferences of consumers so that they do not have to create their desired products themselves.

(a)  

An agreement between a buyer and a seller to exchange goods or services.

(a)  

To be at par with competitors, marketing organizations need to strengthen their capabilities in production and operations to develop and produce goods that will meet consumer needs

(a)  

It refers to the satisfaction derived by customers in availing products or services in time.

(a)  

Refers to offering services which consumers may not be capable of doing or may not like to do themselves

(a)  

One of the 4P's and is define as the value that is put to a product or service and is the result of a complex set of calculations, research and understanding and risk taking ability.

(a)