Multiple choice

Which of the following features is incorrect in case of goods and services as a product?

  1. Goods are search products, and services are experienced products.

  2. Goods and services are tangible.

  3. Goods relate to a stage prior to purchase or use.

  4. Services are the products that relate to a stage after buying or consuming.
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A product is a commodity, service or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is received in exchange for money or some other unit of value. In this, goods are tangible. You can see them, feel them, touch them etc. Services are intangible. 

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