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    Definition of product

    Dictionary of Business Terms: product
    product

    output or end result of production process. For example, automobiles are a product of the automobile companies.

    Dictionary of Marketing Terms: product
    product

    offering capable of satisfying a need or a want, that is offered to a target market for attention, acquisition, use, or consumption. A product can be an object, service, activity, person, place, organization, or idea. Each product has its own benefits, styling, quality, brand name, and packaging that gives it its own identity and distinguishing characteristics. An advertiser, though, will primarily concentrate on promoting a product's benefits, rather than its features. For example, the emphasis in an advertisement promoting a lipstick will be on the product benefit of beauty, with mention of its physical features, such as color and size, subordinate. In other words, the ad will try to appeal to a woman's desire to look beautiful and will promise the woman that wearing this lipstick will positively enhance her looks.

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