1
What is cost?
Cost is a project management component that includes cost estimates, "contingencies, " allowances, and profit.
Give an example of a good.
Goods include books, shops, washing machines, cars, wood, coffee, handbags, beds, chairs, mirrors, computers, tractors, bottles, clothes, blenders, lotions, toothbrushes, and houses.
What is a good?
An occasion when no payment has to be made for an advertisement by a television or radio station, newspaper, etc.
Give an example of a service.
Examples of services are therapy sessions, babysitting, surgery, house cleaning, haircuts, and legal advice.
What is the definition of service?
A service is an intangible activity, benefit, or item offered for economic value. This service definition in marketing is based on the non-physical nature of services.
What should you do if your team comes up with a new product but you think the market is to popular for it to be successful.
Analyze the data and present the finance and product teams with a clear market estimate. That way, they'd have a strong understanding of potential profits and losses so we could have a better assess for the risk of going forward with the product launch.
What is Product/Service management?
Product and service management is obtaining, developing, maintaining, and improving product.Adapting the product or service to the market as it grow
What is the importance of Product/Service management.
Product services management is having a good product and then doing services, such as upgrades or improving the actual product. Product services management also works depending on customer needs. Allowing for a better product to fulfill customer needs
What are the 4 P's of marketing?
Product, Price, Place, Promotion.
Use social media, adds, flyers, etc.