Mcdonald 's An Example Of A Service / Product Mix Essay

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Introduction Economists divide all economic activity into two broad categories, goods and services. Goods are objects, devices, etc. Services are defined as a valuable action, deed, or effort performed to satisfy a need or to fulfil a demand. Goods producing industries are for example agriculture and construction. Both agriculture and construction results in the creation of some kind of tangible object. The service industry includes everything else, for example banking, hotels, airlines, insurance, education, restaurants, etc. A services dominated economy is characteristic of more developed countries than developing countries. Realistically the majority of services include some form of good and most goods include some form of service (the delivery of a good). Services are more intangible than manufactured goods and manufactured goods are more tangible than services. For my project I will be looking at McDonald’s. McDonald’s is an example of a service/product mix – it is more service than product and it is intangible. McDonald’s ' 'Our whole concept was based on speed, lower prices and volume. A guy comes in; you ask him what he wants on his burgers; he says, 'I got to go back to the car to ask my wife. ' Wouldn 't work. ' ' Mr McDonald McDonald’s is the largest fast food chain in the world both in terms of customers served and revenue generated. McDonald’s is a chain of fast food restaurants that was established by two brothers called Richard and Maurice
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