Product - March 24, 2009 at 22:30 PM
by Manish Rajani
What is a product?
Product refers to the bundle of tangible and
intangible attributes that a seller offers to a buyer in return of a
particular predefined amount of payment in a particular mode. Goods,
ideas, methods, information, objects, services, etc., whose output
serves as a need or want satisfier.
Explain width, length and depth of a
Product mix usually refers to the length
(the number of products in the product line), breadth (the number of
product lines that a company offers), depth (the different varieties
of product in the product line), and consistency (the relationship
between products in their final destination) of product lines.
Business market in simple words is business to business
market where in the products or services of a particular
organization are sold to or purchased by other organization or
Modify the objective properties of the products or
Product life cycle refers to the presence of the product in
the marketplace with respect to the ups and down in its
business costs and sales