Product
Clothes are an example of this because it is a tangible item you can hold.
What is a product?
Instrument restoration belongs in this category because it involves performing a skill.
What is a service?
Ella buys a video game, this purchase fits this category because the access was immediate.
What is a digital product?
This term describes a product that can be touched and physically held.
What is tangible?
Selling goods or services online instead of in a physical store.
What is online selling?
A notebook and burgers fall under this classification of goods.
What are tangible items?
House cleaning is considered this because it cannot be physically held.
What is an intangible offering?
John buys pet food and because it requires delivery it falls into this category.
What is a physical good?
This word describes services or products that cannot be physically touched.
What is intangible?
A benefit of digital goods because they do not require physical delivery.
What is instant access?
This term refers to the supply of products a business keeps on hand to sell.
What is inventory?
Electrical inspections require this in order to be performed correctly and safely.
What is specialized training?
These items do not need storage buildings or delivery trucks.
What are online/digital products?
This term refers to selling goods and services over the Internet.
What is e-commerce?
This is something physical product sellers must manage that digital sellers usually do not.
What is storage space?
These are additional expenses businesses face when selling physical goods to customers.
What are shipping and packaging costs?
These business offerings are performed rather than produced.
What are services?
This is a drawback of selling digital items compared to physical ones.
What is lower perceived value?
This type of transaction occurs when a business sells directly to an individual customer.
What is business-to-consumer (B2C)?
This is an added cost physical products have that digital products do not.
What is packaging?
This is a major challenge of selling physical products that requires space, time, and workers.
What is inventory management?
This characteristic separates services from products.
What is intangibility?
These items can be delivered instantly through email or online platforms.
What are electronic goods?
This type of transaction occurs when one business supplies goods or services to another business.
What is business-to-business (B2B)?
This is a challenge digital sellers face because customers cannot touch the product.
What is demonstrating value?