What Are The Products And Services According To Marketing Point Of View?

People satisfy their needs and wants with products and services. A product is anything that can be offered to a market to satisfy a need or want. The concept of product is not limited to physical objects anything capable of satisfying a need can be called a product. In addition to tangible goods, products include services, which are activities or benefits offered for sale that are essentially intangible and do not result in the ownership of anything.

Examples include banking, airline, hotel, tax preparation and home repair services. Broadly defined, also include other entities such as persons, places, organizations, activities, and ideas. Consumers decide which entertainers to watch on television, which places to visit on vacation, which organizations to support through contributions and which ideas to adopt. To the consumer, these are all products. If at times the term product does not seem to fit, we could substitute other terms such as satisfier, resource or offer.

Many sellers make the mistake of paying more attention to the specific products they offer than the benefits produced by these products. They see themselves as selling a product rather than providing a solution to a need.