Product


Anything that can be used for a specific purpose is called a product. It is the result of a series of procedures to assemble, build, manufacture and elaborate some object with a useful function for people. This is a generic word. There is a mathematical concept that is not far from what has already been exposed, since a product is all that result of any operation, the application of mathematics in more specific and technical fields show the term as the multiplication process, however, this can be considered an application idiom.

what is product

Marketing establishes that products are items manufactured with the intention of satisfying the customer. It is that fundamental element in manufacturing companies, which produce large quantities of items in order to meet consumer demand.

It is important to highlight the innovation that is constantly moving in the relationship between the product and the consumer, this happens in order to keep the customer faithful to the article that the company distributes, this contributes in various ways to companies, since it always keeps young the production line and the customer’s fascination with the product.

Marketing is responsible for the distribution of these elements, which should cause a favorable impact on society for the realization of a productive chain of this, since it is important to keep the client satisfied with what is being offered.

The product also refers to the profit obtained from a business, the relationship of this is maintained because it generates a stable profit, it is a sum, the product of an operation, so that all the result of this is profitability, it is profit.

This term has its etymology in the Latin “productus”, which makes it have a meaning referring to an achievement, a production, an elaborated object, among others.

Product Features

In this version, mention will be made of all those characteristics or properties that are added to an article so that it stands out and makes a difference when compared with others already existing in the market. Characteristics can include weight, size, function, taste, etc.

The articles are artefacts and objects characterized by having a business or industrial manufacturing, of course, always being under an artisanal guideline or production by qualified people. The life cycle of a product has a very clear difference, this means that they are not all the same and everything will depend on their use.

An important characteristic of these is that some have a fairly long useful life, an example of this is books, vehicles, computers and smartphones, however, there are also results that do not have much durability, for example, medicines, cleaning products, objects for personal use, food, natural products among others.

It is also important to mention the price, which represents the final purchase value by the consumer and is undoubtedly the most relevant element in the marketing area.

Everything explained above is closely linked to the quality they possess, for example, those production results with high quality raw materials tend to be durable, on the other hand, those made with second-hand materials do not have the necessary resistance to survive for a long time.

Types of products

These are classified into 6 important aspects that will be explained below.

Services

Product - Type of product (services)

It is a set of activities whose main objective is to satisfy the needs of people. These services do not tend to include activities that have to do with the planning or intervention of large crowds, however, there are exceptions in which employees, officials and businessmen participate, who have work with the State or with companies, this refers to public and private services.

Among these services, cleaning with the use of chemical products, mail, transportation, electricity, health, internet with innovative products, among others, should be mentioned.

Consumer goods

They are those goods made by and for society, either in the territory itself or brought from abroad to directly satisfy the needs of the group, for example, beauty products, agricultural products, biodegradable products or ecological products.

emergency goods

These are goods that are in a specific place and time, so that the consumer can acquire them without any problem. Generally there is no purchase planning, however, they are useful for specific moments or situations, for example, when it is raining, the customer buys an umbrella, if they are sick, they buy omnilife products, among others. Usually each store has a catalog of products of this nature to facilitate the purchase of customers.

Common use goods

It is about those assets that have a domain and ownership belonging to the state, however, they can be used by people within society under the regulations of the legal system of the country or specific place. For example, the use of roads, squares, airspace, etc.

specialized goods

They are those consumer goods that have special characteristics or identifications, in fact, they are intended for a specific group of people who have the ability to make efforts to obtain them, for example, transgenic products (food that has been genetically modified), organic products , among others.

durable goods

They are those goods that have the capacity to be used over and over again and do not wear out easily, for example, books, houses, vehicles, appliances, among others.

product in mathematics

Within mathematics, this term is used to refer to the results or quantities obtained from a certain arithmetic operation, that is, from the multiplication of one number with another. Each factor multiplied gives a product as a result, an example of this is the final count of 7 times 8.

Frequently Asked Questions about Product

What is a product?

It is the result of a process by which a good or service is made.

What is a product in mathematics?

These are the results of the multiplication operation, that is, typical of arithmetic.

What types of products are there?

There are six in total, services, consumer goods, emergency goods, common use goods, specialized goods and durable goods.

What are the products for?

Most of them serve to meet the needs of the group.

What are the characteristics of a product?

They are of industrial production, they are intended for certain people, they are goods or services, they are movable or immovable objects, among others.