Rachel, a university student, purchases a watch as a gift for her mother. In this scenario, the watch is an example of a(n)__________product
Fill in the blanks with correct word.
ANSWER: consumer
The watch is an example of a consumer product as it is bought as a gift for personal use. A consumer product is bought to satisfy an individual's personal wants or needs. The key characteristic distinguishing business products from consumer products is intended use, not physical form.
Business
You might also like to view...
In a vertical cooperative advertising agreement, two or more retailers share an advertisement
Indicate whether the statement is true or false
Business
Which of the following is NOT a core function of staffing an organization?
A) recruiting candidates B) retaining employees C) hiring employees D) terminating employees E) motivating employees
Business