What is meant by products and services?
A service is the production of an essentially intangible benefit, either in its own right or as a significant element of a tangible product, which through some form of exchange, satisfies an identified need. consulting with clients on appropriate products for specific purposes.
An offering consists of a tangible product or service plus related services such as installation, repair, warranties or guarantees, packaging, technical support, field support, and other services. offering mix or portfolio – The complete array of an organization's offerings including all products and services.
- 'Marketing myopia' is a term coined by Theodore Levitt. A business suffers from marketing myopia when a company views marketing strictly from the standpoint of selling a specific product rather than from the standpoint of fulfilling customer needs.
- Marketing planning helps you develop products and services in your business that meet the needs of your target market. Good marketing helps your customers understand why your product or service is better than, or different from, the competition.
- The marketing concept is the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition. Today most firms have adopted the marketing concept, but this has not always been the case.
Product (business) From Wikipedia, the free encyclopedia. In marketing, a product is anything that can be offered to a market that might satisfy a want or need. In retailing, products are called merchandise. In manufacturing, products are bought as raw materials and sold as finished goods.
- Product (mathematics) In mathematics, a product is the result of multiplying, or an expression that identifies factors to be multiplied. Thus, for instance, 6 is the product of 2 and 3 (the result of multiplication), and is the product of and (indicating that the two factors should be multiplied together).
- Product Classification: Tangible or Intangible. A product can be classified as tangible or intangible. A tangible product is a physical object that can be perceived by touch such as a building, vehicle, or gadget. Most goods are tangible products.
- From Wikipedia, the free encyclopedia. In mathematics, a product is a number or a quantity obtained by multiplying two or more numbers together. For example: 4 × 7 = 28 Here, the number 28 is called the product of 4 and 7.
Updated: 12th November 2019