Can You Give Me A Simple Example For The Product Concept?

From business point of view, a product is anything which can satisfy the need of a customer. It is tangible, and have some characteristics. Just take the example of telephone which is a product. Now telephones can be used to communicate or talk with someone. It satisfies the need of the people to communicate with other people. However, after the invention of telephone, you can see a number of other related inventions like wireless phones and cell phones. The main product is the telephone which can satisfy your needs, however, at the augmented level there are products related with telephone.

Just remember that a product fulfills the needs of a customer. This is the very basic concept for a product. Nowadays, the word, product is generally used for goods manufactured by the companies. I hope you will have enough idea about the concept of product now.

The Product concept is basically a key concept of Marketing. When a company follows the Product concept, it actually adheres to the philosophy that a good product will create its own market and does not need much marketing or advertising effort.

The company makes the assumption that since the product has a great quality, it will sell on its own. In some cases this concept makes the company think in only one perspective.

The simple example for product concept can be all high tech specialty products. Or all kinds of unsought products. When a company makes such products, it does not care whether the customer will like it or not, it will just focus on innovation and design improvements. For example. A palm computer is technically made up of latest technology but is of no use to ordinary consumer.