We will know about what is a product.
It is anything that can be offered to a market to satisfy the needs or wants of customers.
According to William J. Stanton
” It is a set of tangible and intangible attributes, including packaging, color, price, quality, and brand, plus the seller’s service and reputation.” Its component is design, quality, feature, branding, packaging, service, etc.
The components that makeup are:
Design: Shape, color, look
Quality: Standardization and grading of the product.
Variety: lines and items of goods
Features: Size, style, physical features various models.
Brand: Name, mark, sign, a symbol.
Packaging: Container or wrapper of product.
Service: Pre-sales or after-sales services for the product.
Warranty: Free repair and maintenance of the product
Hence, it is a bundle of benefits and services.
Other Important Links:
Level of Product: CLICK HERE
New Product Development Process: CLICK HERE
Job Vacancy in Nepal: CLICK HERE