A product is anything than can be offered to a market that might satisfy a want or need. This means that services, leisure activities, people (politicians, athletes, actors), places (holiday resorts) and organizations (hospitals, colleges, political parties) can also be considered as products. Most manufacturers divide their products into product lines – groups of closely related products, sold to the same costumer groups, and marketed though the same outlets. Because customers’ needs and markets are constantly evolving, and because different products are generally at different stages of their life cycles, with growing, stable or declining sales and probability, companies are always looking to the future, and re-evaluating their product mix.
A product is anything than can be offered to a market that might satisfy a want or need. This means that services, leisure activities, people (politicians, athletes, actors), places (holiday resorts) and organizations (hospitals, colleges, political parties) can also be considered as products.
Most manufacturers divide their products into product lines – groups of closely related products, sold to the same costumer groups, and marketed though the same outlets. Because customers’ needs and markets are constantly evolving, and because different products are generally at different stages of their life cycles, with growing, stable or declining sales and probability, companies are always looking to the future, and re-evaluating their product mix.
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