Explain the concept of product
Concept of product
A set of tangible offerings made available to the consumer to satisfy his or her needs is referred to as product
Product represents a solution to the consumer's problem therefore a product can also be referred to as bundle of satisfaction that the consumer buys
Product is the sum of physical and psychological satisfaction
Product of an organisation is an item of its output which is usually offered for sale
Important definitions of the product
A product is anything that can be offered to a market to satisfy a want or a need
A product is everything the purchaser get in exchange of his money
A product is anything that can be offered to a market for attention acquisition or consumption including physical objects services personalities organisations and desiers
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