Product (Business)

The product is defined as anything produced by labor or effort, and the verb produce comes from the Latin produce lead. Since 1575, the term has referred to anything produced. Adam Smith, a political economist, first used the economic meaning of product in his 1991 book. It refers to anything that can be sold to a market that has a need or wants. In manufacturing, products are usually purchased as raw materials and finished goods.

A related concept is a product that's produced but not yet finished. When used properly, a sub-product can be a dangerous product. Intangible goods are those that can only be perceived by themselves or by their owners.

Intangible Data Products are defined as those that are accessible to users as standard file types, such as MP3 and JPG, without requiring additional processing or transformational work by developers. They can also be classified as Virtual Digital Goods or Real Digital Goods.

(1) function or

(2) brand.

Sears, Roebuck, and Company's product catalog is divided into three sections: department stores, merchandise departments, and online stores. Each product has a unique item number and manufacturer's model number. These numbers help customers find the right product at the right time. A product line is often related to a specific industry or function. Some products may be sold through the same outlets or may be different in price ranges.