Marketing Ps - Product
What is a Product in Marketing?
Written by Jason Gordon
Updated at September 28th, 2021
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What is Product in the Marketing Mix?
A Product is anything provided by a producer or seller in order to meet consumer wants and needs. Most businesses have a different product. That could be goods as in physical items. Maybe something that comes off the shelf or that we can hold and feel. It also includes services, like when we go to the doctor or when we go to the auto mechanic to have our oil changed.
Lastly, we have combination products. One of my favorite examples is when we go to a restaurant. Typically we go to a restaurant and we get food, but we also get the service of somebody cooking it and bringing it out to our table.
So there's a that's a combination of a physical good and a service. In any case whatever we pay for or buy when we go to a store or a restaurant or a service provider, that is their product.
What are the Characteristics of a Product in the Marketing Mix?
This section refers to all of the features, advantages and benefits that your customers can enjoy from buying your goods or services.
Key attributes of a product development include:
- Specifications/Features
- Packaging
- Branding
- Warranty
- Other Sources of Customer Value
Next Article: 5 Ps - Price Back to: MARKETING
What is Product Orientation within a Strategic Analysis?
When marketing your product, you need to think about the key features and benefits your customers want or need, including (but not limited to) styling, quality, repairs, and accessories. Specifically, identify the following information:
- Product lines or Variations
- Brand Name(s) of carried products
- Quality levels
- Warranty or Guarantees
In the following video, we discuss how product orientation is used in Strategic Analysis.
Related Topics
- What is a Marketing Strategy (Marketing Mix)?
- 4Ps (sometimes 5, 6, or 7 Ps) of Marketing Definition
- Marketing 4 Ps - What is Product?
- Marketing 4 Ps - What is Placement?
- Marketing 4 Ps - What is Price?
- Marketing 4 Ps - What is Promotion?
- Marketing 4 Ps - What is Packaging?
- Marketing 4 Ps - What is Process?
- Elements of a Good Marketing Strategy?
- What is a Marketing Plan?
- Outline for Marketing Plan
- The Mission and Product/Service Statement
- Situation Analysis
- Target Market
- Marketing Objectives and Goals
- Marketing Strategy
- Action Plan
- Budget
- Controls
- What is a Product?
- What Types of Product are There?
- Durable Goods
- How are Goods Different from Services?
- What Components do Products Include?
- What is Product Quality?
- Perceived Value of a Product
- Why is Product Packaging Important?
- White Label Product
- What is Product Warranty?
- Innovation Adoption Curve
- Product Life Cycle