One can say a product is a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is received in exchange for money or some other unit of value.
How an organization views a product depends upon its perspective.
The organizations that are production-oriented look at a product basically as a manifestation of resources used to produce it and the organizations that are marketing oriented view a product from the target consumer’s perspective as a bundle of benefits by benefits I mean to say functional as well as emotional benefits. Accordingly, they will have to see how their consumers view their products. Most of the organizations have realized that there is no need to prepare a marketing mix for a product that offers few consumers benefits because that product will not sell.
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