In the field of marketing, anything that is qualified to offer to the market in order to satisfy the needs of consumers is recognized as the product. From the retailing point of view, products are known as merchandize, in the manufacturing field, the process of buying the raw materials and sell them as finished products is named as product. In project management, products play a role as the outcome that makes up the goals in meeting the needs of delivering the objectives of projects.
In the insurance, the insurances are covered as products that are offered to the customer for selling purpose to create a contract. Whereas, in economics and commerce, product is defined by broader category of goods, the term was first used by the political economist Adam Smith.
There are four types of business products in the market, are as follows,
Business Communication: Process and Product By Mary Ellen Guffey, Dana Loewy (published by Cengage Learning, 2010)
Business By William Pride, Robert Hughes, Jack Kapoor (published by Cengage Learning, 2011)
There are prior four categories in products that are available in the market,
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