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13 May, 2016 - 13:23

Product Anything, either tangible or intangible, offered by the firm as a solution to the needs and wants of the consumer, that is profitable or potentially profitable and meets the requirements of the various publics governing or influencing society.

Consumer goods Products purchased for personal consumption with no intention of selling to others.

Industrial goods Products purchased by an individual or organization in order to modify the product or distribute it for a profit.

Packaging Provides protection, containment, communication, and utility for the product.

Product lifecycle A product planning tool that parallels the stages of the human lifecycle.

Brand Identifies the product and distinguishes it from competitors.

Position A strategic management decision that determines the place a product should occupy in a given market.