MBA 1ST Year Operation Concept Short Question Answers in English: – In this post you will find MBA 1 year related to important questions related to the answer such as the Operation Concept Answer and many other important questions. Short Questions are answered in section B
SHORT ANSWER QUESTIONS
Q.1 What is the difference between product and service?
Ans. Difference between Product and Service A product is a good. Traditionally, this has meant a physical good, but it can also apply to informational goods, so that a ‘Product’ can be software or subscriptions. Fair use laws can ap product. When selling a product, you are usually selling its features, mainly how they meet a customer’s needs. Products can sometimes be rented. A service is an act and its receipt of sale is a contract. When selling a service, you are often selling ga expertise or transfer of labour. For example, in selling Software as a Service (SAAS), you are m reduction in IT support and uptime SLAs, as well as selling features that address a customer s pam points. Services are less transferable than products and, unless a one-time service, often involve recurring costs. Products and services can be sold bundled. For example, cruises involve both products (lodging, food) and services (housekeeping, babysitting). A product is a tangible artifact. It can be bought, can be owned. A service is an intangible artifact. It can be felt and enjoyed but not owned. A service is something that only lasts as long as someone is doing something for you. Broadband is a service. A difference occurs when they are sold to a consumer. In most states, the sale of tangible goods (product) are taxable, while intangible ones (service) are not.
MBA 1ST Year Operation Concept Short Question Answers in English
Q.2. Write a note on product design and service design.
Ans. Product and Service Designs
Companies choose various ways to design their products and the types of services they provide which include standardization, mass customization, delayed differentiation, modular design and robust design. Deciding which method to use is very important along with deciding the company’s target market. Deciding the right method, establishes good productivity and efficient way of operations.
Service design is an activity of organizing and planning people, communication and material components in order to improve service quality. It is the interaction between the service provider and customers and the customers’ experience. A service is anything that is done to or for a client and is created and delivered simultaneously. The two most important issues in service design are the degree of variation in requirements and the degree of customer contact which determines how standardized the service can be. The greater the degree of customer contact, the greater the opportunity for selling. In addition, concepts and ideas generated are captured in sketches or in service prototypes. The strong visual element, combined with the opportunity to test and rapidly change services and interfaces, delivers real value in today’s competitive markets.
Product design combines ergonomics with product and business knowledge to generate ideas and concepts, and convert them into physical and usable objects or services. The discipline covers the entire range of activities from concept, manufacturing, testing to product launch. Product designers conceptualize and evaluate ideas and themes they find profitable. The designers make these ideas tangible through products using a systematic approach.
Difference between Service Design and Product Design: Service design is an intangible aspect while product design is tangible. Services are generally created and delivered at the same time and cannot be held in inventory like actual products. Also, services (especially quality one) are highly visible to customers.
Q.3. Explain product and service life cycle.
Ans. Product and Service Life Cycle
During their useful life, many services and products go through four stages. Since the demand can vary for each of these four stages, different strategies should be applied to achieve optimum product/service performance during each stage.
The four stages are:
1. Introduction: During the first stage, the product is introduced into the market. Proper research and forecasting should be done to ensure that the product/service is adequate for a specific market and demand for the product/service.
Cinc time. It is crucial to have a proper amount of supply that can meet the expected
2. Growth : The second stage involves the increase in demand for the product/service. Reputation For the product grows and an accurate forecast of demand is needed to determine the length of time the product/service will remain in the market. Enhancements and improvements are common in this stage.
3. Maturity: The third stage deals with the product reaching a steady demand. Few or no improvements or product changes are needed at this stage. Forecasting should provide an estimate of how long it will be before the market dies down, causing the product to die out.
4. Decline: The last stage involves choosing to discontinue the product/service, replacing the product with a new product, or finding new uses for the product.