MARKETING
MARKETING
9th Edition
ISBN: 9780324362084
Author: Lamb
Publisher: CENGAGE L
Question
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Chapter 10, Problem 1LO
Summary Introduction

To discuss: The meaning of product.

Expert Solution & Answer
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Explanation of Solution

The meaning of product is as follows:

A product can be defined as a thing that could be provided in the market for acquisition, attention, consumption, or for utilization, which may satisfy a need or a want. The goal of purchase decision is to obtain intangible or tangible advantages related with a product. Tangible goods include a pair of slippers or haircut service. Intangible qualities include goodwill and the sellers’ image.

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