Question

What is a product?

Answer 1

A product means a set of tangible and physical attributes (such as materials, colour, design, size, weight, etc.) assembled in an identifiable form that a seller offers to the customers for sale. For example, a ball pen is a product consisting of plastic, metal, ink and other components. A product may be defined as a set of tangible and intangible attributes offered by the seller to the customers. The psychological aspects of a product (the way consumers perceive a product) are more important than the physical characteristics. For example, when a consumer buys a bathing soap, he is buying a good complexion rather than some chemicals.