what is a product

what is a product

3 hours ago 3
Nature

A product is anything that is created and offered to satisfy a customer’s need or desire, delivering value in exchange for something of value. It can be a tangible physical item, an intangible service, software, an experience, or even an idea. Products are made available to consumers or markets to solve problems or fulfill demands

. From a marketing perspective, a product is a combination of tangible and intangible attributes that provide benefits to the buyer, including core benefits, actual product features, and augmented services or psychological benefits that enhance the overall value

. Products can be physical goods like a chair or water bottle, digital goods like software or apps, hybrid products combining hardware and software, services such as consulting or subscriptions, or experiences like event tickets

. In business and project management, a product is also defined as the deliverable that contributes to achieving project objectives, and it can include sub-products or components that themselves provide value to a market

. In summary, a product is broadly defined as any good, service, or combination thereof that a business offers to meet customer needs and create value

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