Product and Services

A product is anything that can be offered to the market for attention, acquisition, use, or consumption and that might satisfy a need or want. The concept of product is not limited to physical object and can include persons, places, organisation, activities, and ideas. Be careful of paying attention to the product and not benefit being satisfied. Services are activities or benefits offered for sale that are essentially intangible and do not result in the ownership of anything. Examples would include banking, airline, hotel, tax preparation, and repair services. "Marketing myopia" is caused by shortsightedness or losing sight of underlying customer needs by only focusing on existing wants.