What is a product?

A product is defined as an artifact created by a person or process, encompassing the tangible items offered to customers in the market. This definition highlights that products can take various forms, including physical goods that consumers can purchase and use.

In a business context, products are developed through manufacturing processes, design, and innovation, ultimately aimed at satisfying customer needs or wants. This can include anything from electronic devices to home goods. This view helps in understanding how products fit into broader marketing and sales strategies.

The other interpretations, while they touch upon aspects of business and commerce, do not capture the essence of what constitutes a product. For example, an idea with commercial value represents a potential opportunity rather than a concrete product ready for sale. A service provided to customers is also distinct from a product, as services are intangible and cannot be physically owned or possessed. Lastly, a business strategy refers to a plan of action to achieve specific goals but does not represent an item or service that consumers can buy. Thus, the most accurate definition of a product focuses on the physical and tangible outcomes of a creation process.