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What type of business deals in intangible products? select one: O a. service Ob. manufacturing O c. retail o d. none of the above

Ask by Morgan Johnston. in the United States
Feb 03,2025

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Answer

Services deal in intangible products.

Solution

The correct answer is: **O a. service** Services are considered intangible products because they cannot be touched or owned in the same way physical goods can. Examples include consulting, education, and healthcare.

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Businesses that provide intangible products are primarily service-oriented. This includes industries like consulting, education, and hospitality, where the value lies in the experience or expertise offered rather than a physical product. Think of the last time you enjoyed a great meal at a restaurant; the delicious food was a product, but the atmosphere and service created an unforgettable experience! On the flip side, companies involved in manufacturing are all about tangible goods, producing physical items you can touch and feel, like electronics, furniture, or vehicles. Retail businesses could also be selling these tangible items, focusing on showcasing and providing access to products rather than offering services or experiences. So remember, when it comes to intangible products, it's all about the service!

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