Product

Definition

A product is any good, service, or idea that can be offered to a market to satisfy a want or need. Products include physical items, services provided by businesses, and intangible assets like software.

Related terms

Good: A tangible item that can be physically touched and owned upon purchase.

Service: An intangible offering from one party to another that often involves a human action, such as consultancy or maintenance.

Market Need: The specific desire or requirement of a target market that prompts the development of new products.