Product

Meaning & Definition

A product is any object or service that you offer in order to meet a customer’s need or desire. A real or virtual product may exist. Durable commodities (such as automobiles, furniture, and computers) and nondurable items are examples of physical things (such as food and beverages). Virtual goods are service or experience offers (such as education, software, and other digital products). A hybrid product may have both physical and virtual features. As traditionally analog items use digital technologies to better reach and service consumers, hybrid products are becoming increasingly widespread.

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