MANAGEMENT

Detailed explanation-1: -A product may be defined as a set of tangible, intangible and associate attributes capable of being exchanged for a value with the ability to satisfy consumers and business needs. It is anything that can be offered to a market to satisfy the needs or wants of the customer.

Detailed explanation-2: -In essence, the term “product” refers to anything offered by a firm to provide customer satisfaction, tangible or intangible.

Detailed explanation-3: -The term “distribution channel” refers to the methods used by a company to deliver its products or services to the end consumer. It often involves a network of intermediary businesses such as manufacturers, wholesalers, and retailers.

Detailed explanation-4: -What are the 4Ps of marketing? (Marketing mix explained) The four Ps are product, price, place, and promotion. They are an example of a “marketing mix, ” or the combined tools and methodologies used by marketers to achieve their marketing objectives.

Detailed explanation-5: -#1 Product Product is what you’re selling, whether it’s physical goods or intangible services.