Marketing91

  • HOME
  • Marketing Concepts
    • Marketing
      • Retail Tutorials
      • Market Research
      • Customer Management
    • Strategy
    • Management
    • Advertising
    • Branding
    • Business
    • Finance
    • Sales
    • Career Guidance
  • Digital Concepts
    • Blogging
    • Search Engine Optimization
    • Social Media Marketing
    • Facebook Marketing
    • Internet Marketing
    • Ecommerce
  • Brands
    • Marketing Mix of Brands
    • SWOT analysis of Brands
    • Brands Strategy Analysis
    • Business Models
    • Brand Competitors
    • TOP 10
  • Courses
Home » Marketing » What is a product

What is a product

December 29, 2017 By Hitesh Bhasin Tagged With: Marketing

How will you define a product? Or another question asked is What is a product?

One  can say a product is a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is received in exchange for money or some other unit of value.

How an organization views a product depends upon its perspective.

The organizations that are production-oriented look at a product basically as a manifestation of resources used to produce it and the organizations that are marketing oriented view a product from the target consumer’s perspective as a bundle of benefits by benefits I mean to say functional as well as emotional benefits. Accordingly they will have to see how their consumers view their products. Most of the organizations have realized that there is no need to prepare a marketing mix for a product that offers few consumers benefits, because that product will not sell.

You have to consider the product from the target customer’s perspective. Like the cosmetic companies are combining chemicals to make lipsticks, vitamin manufacturers produce little pills, watch makers produce mechanical devices that keep time. -What are marketers doing they are basically enhancing their products for their target markets-as lipstick has becomes beauty and hope, vitamins become hope for a healthier life and watches become status symbols?

So we can say that a product therefore is a bundle of physical, chemical and / or intangible attributes that have the potential to satisfy present and potential customer wants. In addition to the physical Good itself, other elements include the warranty, installation, after sales service accessories and package. A customer buying an air-conditioner and a maintenance contract from Carrier Aircon is buying a different product than another who buys the same model without the maintenance agreement. Now lets discuss the levels, that are present in a product

Share this post:

Share on Facebook Share on Twitter Share on LinkedIn Share on Email Share on WhatsApp
Digiaide Marketing and Digital Marketing Courses

Related posts:

  1. Marketing Communication: Meaning & Types of Marketing Communication
  2. Consumer Behavior: Definition, Importance and Types
  3. Customer Analysis
  4. What is Customer Intimacy?
  5. Customer Centric – Definition, Meaning, Characteristics, Advantages
  6. Customer Experience – Concept, Examples and Strategy
  7. Consumer vs Customer
  8. Customer Profiling Definition and Benefits (with Steps Explained)
  9. What is Buying Pattern Analysis? Steps of Buying Pattern Analysis
  10. The Complete Guide to Customer Acquisition

What Do You Want To Learn About? (Start Here)

  1. Marketing Hub
  2. Management Hub
  3. Marketing Strategy
  4. Advertising Hub
  5. Branding Hub
  6. Market Research
  7. Small Business Marketing
  8. Sales and Selling
  9. Marketing Careers
  10. Customer Management
  11. Top 10 Lists
  1. Internet Marketing
  2. Blogging
  3. Search Engine optimization
  4. E-commerce
  5. Facebook Marketing
  6. Social Media Marketing
  7. Business Model of Brands
  8. Marketing Mix of Brands
  9. Brand Competitors
  10. Strategy of Brands
  11. SWOT of Brands
GET DAILY MARKETING UPDATES

About Hitesh Bhasin

I love writing about the latest in marketing & advertising. I am a serial entrepreneur & I created Marketing91 because I wanted my readers to stay ahead in this hectic business world.

Comments

  1. jyothi says

    Marketing matter discussed in this site is very informative and helpful. Tks!

    Reply
  2. durga says

    thank u for providing information on product.

    Reply
  3. ojima perpetual says

    Notify me of mrket update

    Reply
  4. aashima gupta says

    thnx for providing info .on product..!!

    Reply
  5. Asad says

    Thanks foR detail description on product

    Reply
  6. Rehab says

    Well I have used this to draft an article on marketing that hopefuly will be able to sell very helpful please update me thanks!!

    Reply
  7. eranda says

    thank you sir.. it is easy to understand.

    Reply
  8. Gilbert Seni says

    The levels present in a product wasn’t discussed

    Reply
    • Hitesh Bhasin says

      That is discussed in a different article – three levels of a product.

      Reply
  9. Law kesh says

    Marketing is the buying of goods and service for better transation

    Reply
  10. Ahmad Saif says

    The characteristics of products haven’t explained here. Can you please explain a bit about the characteristics of products? Thank you.

    Reply
  11. md abu raihan says

    PLC
    The Programmable logic controller is a device that can work in a simple process and can manage difficult work in a very simple way. It is usually an industrial computer control system that is designed to be a shock-resistant system incessantly monitors the state of an input device by the logic system and makes decisions based on it and deliver outputs.

    In every industrial section, to work fast and makes the difficult things simple and to change systems easily with the demand for production, the PLC has made a triumphal role in the age of industrialization.

    Generally, as the PLC system is in high demand, people need it in various ways. Many companies are invented many types of PLC. Among them, many are in a high demand. To buy PLC at a reasonable price in Bangladesh, one must know the ins and outs of a PLC system, their specifications and so on.

    To buy PLC at a reasonable price in Bangladesh, one has to get an idea of it and it only can possible if one has a thorough knowledge of it.

    There are so many PLC companies whose products are available in Bangladesh and actually very popular in the industrial sector. Among them, Siemens PLC, Delta PLC, Mitsubishi PLC, UniMat PLC are in a good position

    Let us have a look at these PLC systems in Bangladesh to buy PLC at a reasonable price.

    Reply
  12. Vasu says

    This is really a great wi site as in class it help me lot through a great example that cover whole chapter (targeting, positioning.)

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Advertisement
Recent Posts
  • Collaboration – Definition, Importance, Types and skills
  • College vs University – Differences, Types, Pros and Cons
  • Common Stock – Definition, Classification and Examples
  • Common Market – Definition, History and Examples
  • Commodity Futures – Definition, Example and Risks
Advertisement

Marketing91

MORE INFO

  • About Marketing91
  • Privacy Policy
  • Cookie Policy
  • Disclaimer
  • Terms of Use
  • Advertise
  • Contact us
  • Sitemap
  • ISO 9001:2015 Certified

LEARNING SERIES

  • What is Communications
  • Types of Communication

WE WRITE ON

  • Marketing
  • Small Business
  • Management
  • Internet Marketing
[email protected]

Copyright © 2022 Marketing91 All Rights Reserved