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As the owner of a small company, you are organizing a ballgame and picnic in two weeks’ time for your employees and their families. There are many fun activities that you have planned. For the children there will be games like three-legged races and kite-flying. For the adults, besides the baseball game in the afternoon, there will also be bingo and horseshoes. There will be prizes for the winners of all the events. Lunch should be around noon, and you are generously providing all the food and drinks. Write a memo requesting, but not demanding, that employees attend the picnic. Be sure to list the activities for that day as well.
1C Innovations and Products
1. Read the text and decide whether the statements are true or false.
1. Product is anything which is produced by people or machines and can be sold.
2. Products are always physical. You can touch or smell them.
3. Products can be delivered in the form of services or ideas.
4. Products cannot be virtual.
1. What is a product?
In general, a product is defined as a "thing produced by labor or effort" or the "result of an act or a process".
In marketing, a product is anything that can be offered to a market that might satisfy a want or need. In retail, products are called merchandise. In manufacturing, products are purchased as raw materials and sold as finished goods. Commodities are usually raw materials such as metals and agricultural products, but the term can also refer to anything widely available in the open market.
2. Goods, services, or ideas
Goodsare a physical product capable of being delivered to a purchaser and involve the transfer of ownership from seller to customer.
A service is a non-material action resulting in a measurable change of state for the purchaser caused by the provider.
Ideas (intellectual property) are any creation of the intellect that has commercial value, but is sold or traded only as an idea, and not as a resulting service or good. This includes copyrighted property such as literary or artistic works, and ideational property, such as patents, appellations of origin, business methods, and industrial processes.
3. Product classification: tangible or intangible
A product can be classified as tangible or intangible.
A tangible product is a physical object that can be perceived by touch such as a building, vehicle, or gadget. Most goods are tangible products. For example, a soccer ball is a tangible product.
An intangible product is a product that can only be perceived indirectly such as an insurance policy. Intangible data products can further be classified into virtual digital goods ("VDG"), which are virtually located on a computer OS and accessible to users as conventional file types, such as JPG and MP3 files, and real digital goods (“RDG”), such as as 3-D objects or presentational items.
2. Look at the pictures. Can you name the products? Which of them were successful? Complete the product description with the words in the box.
1. People used it to _____________ video cassettes. 2. I use mine to __________ to music when I go jogging. 3. You use it ___________ the floor. 4. It was a new way to __________ in cities.
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