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In marketing, a product is defined as which of the following?
AAny tangible item that a factory is able to manufacture
BAny item that a firm is able to sell at a profit today
CA good, service or idea with attributes creating value
DA good that is bought by the end user of that good
Answer & Solution
Correct answer: C. A good, service or idea with attributes creating value
1. In marketing a product may be a good, a service or an idea.
2. It carries perceived attributes and benefits that create value for the customer.
3. Those attributes can be tangible, such as packaging, or intangible, such as brand image.
4. Limiting the word to tangible factory output would exclude services and ideas.
5. A good bought by the end user is a consumer product, which is only one class of product.
_Source: OpenStax Introduction to Business (CC BY 4.0), Ch 11 "Creating Products and Pricing Strategies to Meet Customers' Needs", section 11.6 What Is a Product?_
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