What is a Product?

Product is much more than just a bundle of physical attributes. People do not just buy it as a physical commodity but to derive satisfaction and fulfillment of their needs. Hence, a product is a set of tangible and intangible attributes that leads to consumer’s satisfaction.

According to Philip Kotler, “A product is anything that can be offered to a market to satisfy a want or a need.”

According to William Stanton, “A product is a set of tangible attributes including packaging, colour, price, quality and brand plus the services and reputation of the seller. A product may be goods, service, place, person, or idea.“