Products: Goods and ServicesLearning Objectives: Recognize the multiple meanings of the term product. Learn the distinguishing characteristics between goods and services. Appreciate why the distingu

Products: Goods and ServicesLearning Objectives:Recognize the multiple meanings of the term product. Learn the distinguishing characteristics between goods and services. Appreciate why the distinguishing characteristics between goods and services are important. Acknowledge the core elements of the market offering. Appreciate the factors affecting product line breadth and depth.Reflection and Discussion — 550 wordsReflect on the assigned readings for the week. Identify what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding.Also, provide a graduate-level response to each of the following questions:Some companies have traditionally been known for their excellence in tangibles, e.g., Xerox in copiers, IBM in computers, who now describe themselves as primarily service companies. Do you agree? What does it take for a company to declare itself as a service organization (e.g., a percentage of business, a certain strategy or mission)? What would it take for you to believe such a claim?Assignment – 600 words minimumThis activity/assignment will help students understand the importance of retaining existing customersActivity: Find a company offering different products and discuss what the company did to retain its customers under particular circumstances.The assignment is to answer the question provided above in essay form. This is to be in narrative form and should be as thorough as possible. Bullet points should not to be used. The paper should be at least 1.5 – 2 pages in length, Times New Roman 12-pt font, double-spaced, 1 inch margins and utilizing at least one outside scholarly or professional source related to marketing management. The textbook should also be utilized. Do not insert excess line spacing. APA formatting and citation should be used.

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