Tariq Shehzad
New member
A business tries to earn a profit by producing or providing products. The profit is the difference between the costs to make and sell a product and sale value of the product. if a company spends 2 USD to make product and sell it for 2.75 USD, the business earns a profit of 0.75 USD. The profit is the reward for the risks a business take in providing products. The products satisfy people's needs and requirements. The result of business efforts and operations are products. The products have tangible and intangible characteristics. The characteristic of the product satisfy people's needs and requirements. We purchase a product for its benefits and satisfaction. A KFC burger may be purchased to satisfy hunger. A *Gull Ahmad cloth is purchased to satisfy clothing needs. In essence all businesses revolve around some need of its products for satisfaction of people.
A product can be
1. Tangible like a car etc.
2. Intangible
a. A service like a checkup by a doctor etc.
b. An Idea like given to a company by its consultants to solve a problem etc.
we therefore define a product as.
Keep in mind that all the organizations are not businesses. Non- profit organizations, Such as *Edhi Trust and Ambulance services do not have the primary purpose of earning profits. They may provide goods or services but not for profit.
NOTE:
* Gull Ahamad is the brand of clothes in Pakistan.
*Edhi is the Pakistani ambulance services and it is the largest non- profit ambulance service in the world
A product can be
1. Tangible like a car etc.
2. Intangible
a. A service like a checkup by a doctor etc.
b. An Idea like given to a company by its consultants to solve a problem etc.
we therefore define a product as.
Keep in mind that all the organizations are not businesses. Non- profit organizations, Such as *Edhi Trust and Ambulance services do not have the primary purpose of earning profits. They may provide goods or services but not for profit.
NOTE:
* Gull Ahamad is the brand of clothes in Pakistan.
*Edhi is the Pakistani ambulance services and it is the largest non- profit ambulance service in the world