29-08-2017, 10:54 AM
In a marketing, a product is anything that can be offered to a market that can meet a need or need. In the retail trade, the products are called merchandise. In manufacturing, the products are purchased as raw materials and sold as finished products. A service is another type of common product.
Commodities are usually raw materials such as metals and agricultural products, but a product can also be anything widely available in the open market. In project management, outputs are the formal definition of project deliverables that constitute or contribute to the achievement of project objectives. In insurance, policies are considered products offered for sale by the insurance company that created the contract. In economics and trade, products belong to a broader category of goods. The economic significance of the product was first used by political economist Adam Smith.
A related concept is that of a byproduct, a secondary but useful result of a production process. Dangerous products, particularly physical ones, that cause injury to consumers or to passers-by, may be subject to product liability.
A product can be classified as tangible or intangible. A tangible product is a physical object that can be perceived by touch, such as a building, vehicle, gadget or clothing. An intangible product is a product that can only be perceived indirectly as an insurance policy. Services can be broadly classified into intangible products that can be long-lasting or non-durable.
Commodities are usually raw materials such as metals and agricultural products, but a product can also be anything widely available in the open market. In project management, outputs are the formal definition of project deliverables that constitute or contribute to the achievement of project objectives. In insurance, policies are considered products offered for sale by the insurance company that created the contract. In economics and trade, products belong to a broader category of goods. The economic significance of the product was first used by political economist Adam Smith.
A related concept is that of a byproduct, a secondary but useful result of a production process. Dangerous products, particularly physical ones, that cause injury to consumers or to passers-by, may be subject to product liability.
A product can be classified as tangible or intangible. A tangible product is a physical object that can be perceived by touch, such as a building, vehicle, gadget or clothing. An intangible product is a product that can only be perceived indirectly as an insurance policy. Services can be broadly classified into intangible products that can be long-lasting or non-durable.