A product generally means something that is made or created to be sold or used. It can be a physical item, a service, an experience, or even an idea designed to satisfy a consumer's needs or desires. In business and marketing, a product is anything offered to a market to fulfill a customer's demand, including goods, services, software, or hybrids of these
. More specifically:
- In everyday use, a product is something manufactured or grown to be sold, such as a smartphone or skin-care items
- In mathematics, a product is the result of multiplying two or more numbers
- In digital business, a product can be a collection of business capabilities valuable to customers, which may include software, hardware, services, or a combination thereof
- A product also refers to the outcome or result of an effort or process, such as a report card being the product of hard work
Thus, the term "product" encompasses a broad range of tangible and intangible offerings that deliver value to customers in exchange for something of value, like money or a subscription
Summary:
- A product is anything made or created to be sold or used.
- It includes physical goods, services, digital offerings, experiences, or ideas.
- It satisfies consumer needs or desires.
- In math, it is the result of multiplication.
- It can also mean the result or outcome of a process or effort.
This broad definition helps explain why products can vary widely across different contexts and industries