DECA Sports and Entertainment Marketing Practice Exam

Which term describes the various goods and services a company can provide?

1. Productivity

2. Product Testing

3. Product Portfolio

4. Professional Development

The correct answer is: Product Portfolio

The term that describes the various goods and services a company can provide is the product portfolio. A product portfolio encompasses all the products a business offers, including their features, price points, and target markets. This concept is crucial for understanding how a company positions itself in the market and how it meets the diverse needs of its customers. A well-managed product portfolio can help a company identify market opportunities, allocate resources effectively, and develop strategies for growth. Productivity refers to the efficiency of production processes, not the variety of goods or services offered. Product testing is the process of evaluating products before they go to market, focusing more on quality and performance than on the range of offerings. Professional development relates to the training and skills development of employees, which does not pertain to the scope of products or services a company provides. Thus, the product portfolio is the most appropriate term for describing the array of goods and services available from a business.