Understanding Soft Products Acronyms and Utility

University:
Swansea University
Course:
N1NF | Business Management (Marketing) with a Foundation Year
Academic year:

2024
Views:

353

Pages:

1
Author:

Thomas G.

Lecture Notes Title: “Understanding Soft Products, Acronyms, and Utility" I. Soft Products • Soft products vs. hard products • Soft products are services often integrated into tangible supports • Examples: TV series, package tours, language lessons on tapes, software applications II. Acronyms • Acronyms of various Italian institutions and entities • Examples: EFIM (Financial Institution for Manufacturing Industries), ENEL (National Electricity Board), ENI (National Hydrocarbons Board), ICE (National Institute for Foreign Trade), IMI (Italian Merchant Bank), INA (National Insurance Institute), INAIL (National Institute for Workers' Compensation), INPS (National Social Security Institute), IRI (Industrial Reconstruction Institute), ISVEIMER (Institute for the Economic Development of Southern Italy) III. Utility • Utility defined as the capacity of a good to satisfy a need IV. Challenges in Defining Business Size • Discuss the difficulty of classifying businesses as small, medium, or large • Dimension of a business depends on various factors, including its production, industry sector, and temporal dynamics • Measurement of business size should consider these factors for a comprehensive understanding