The term "product" has different meanings depending on the context: In business and marketing:
- A product is any tangible or intangible item, service, experience, or idea created to satisfy consumer needs or wants. It can be a physical good (like a water bottle), a digital item (such as software), a service (like meal delivery), or an experience (such as a concert ticket)
- It represents something offered to a market to deliver value in exchange for payment or other value, encompassing the entire customer experience from discovery to support
In mathematics:
- A product is the result obtained when two or more numbers (called factors) are multiplied together. For example, the product of 4 and 5 is 20 (4 × 5 = 20)
In summary, a product is either a market offering designed to fulfill a need or the numerical result of multiplication, depending on whether the context is business or math.