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Product (business)

Product (business) Definition

In marketing, a product is anything that can be offered to a market that might satisfy a want or need. However it is much more than just a physical object. It is the complete bundle of benefits or satisfactions that buyers perceive they will obtain if they purchase the product. It is the sum of all physical, psychological, symbolic, and service attributes.

A product is similar to a good. In accounting, goods are physical objects that are available in the marketplace. This differentiates them from a service, which is a non-material product.








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