What is a product? In the business world, a product is a good or service that is sold by an individual or an organization in order to make profits by satisfying the wants and needs of a customer. A product offered by AV companies boston can be tangible or intangible. A property that is tangible can be perceived by the sense of touch and feel. An intangible product is incorporeal.
A tangible good can be touched and also felt for instance clothing or vehicles whereas an intangible product can be perceived in other forms such as services, ideas and information. The vendor understand who and how big his or her market. Knowledge of this can pay off in the long run to avoid manufacturing too many unnecessary products and consequently wasting valuable resources. So it is important to know the size of the potential reachable market.
A product has a combination of tangible and intangible characteristics that a vendor offers a customer for purchase. For instance, a vendor for a certain brand of hair gel not only offers the physical product (the hair gel) but also the idea that the consumer will be enhancing the health and sheen of their hair.
To justify products continued existence, the product should closely meet the conditions or rather the requirements of market in question and just yield enough profit to the other party i. E. The vendor. Therefore the consumer of that product should be specific and clear of his/her needs or wants while the vendor needs to be in the know on the needs and wants of the consumer while keeping in mind the good should earn him or her profit.
Clothing. New designs and trends emerge every day. There is different clothes for different people; clothes for adults, teens and children. We have casual and official clothes. Clothes for the hot season and those worn in cold seasons. Others are for specific purposes like wedding gowns and swimsuits. The range of clothes is so wide. Still on the purpose of dressing, shoes range is as wide as that of clothes. Other products like door and window curtains, bed covers and bed sheets are available.
Next a seller should become familiar to the needs or wants of the targeted customers. The good must have an original value that customers can identify with the customers. The seller should assess at the start if he will be able to produce the good and make more if the demand for production goes higher.
The seller should be knowledgeable of who his market is and how big his potential market is. Also, the dealer should consider knowing if the governments rules and regulations can affect the product say if the products require permits from the government. The seller must know and familiarize himself with the products unique selling proposition i. E. The products uniqueness that makes it stand out amidst other similar products. Finally, the dealer should seek clarity on the idea of the cost structure and how much sales need to be made to post a profit.
Most importantly, the seller should be in the know if the laws or government rules and regulations can impact the good. For instance, some products can be sold without the need of approval by the government while others require permits from a government. Seller of that product must know and understand the products unique selling proposition i. E. The one thing that makes a product different from many others just like it. This is to ensure survival of this product.
A tangible good can be touched and also felt for instance clothing or vehicles whereas an intangible product can be perceived in other forms such as services, ideas and information. The vendor understand who and how big his or her market. Knowledge of this can pay off in the long run to avoid manufacturing too many unnecessary products and consequently wasting valuable resources. So it is important to know the size of the potential reachable market.
A product has a combination of tangible and intangible characteristics that a vendor offers a customer for purchase. For instance, a vendor for a certain brand of hair gel not only offers the physical product (the hair gel) but also the idea that the consumer will be enhancing the health and sheen of their hair.
To justify products continued existence, the product should closely meet the conditions or rather the requirements of market in question and just yield enough profit to the other party i. E. The vendor. Therefore the consumer of that product should be specific and clear of his/her needs or wants while the vendor needs to be in the know on the needs and wants of the consumer while keeping in mind the good should earn him or her profit.
Clothing. New designs and trends emerge every day. There is different clothes for different people; clothes for adults, teens and children. We have casual and official clothes. Clothes for the hot season and those worn in cold seasons. Others are for specific purposes like wedding gowns and swimsuits. The range of clothes is so wide. Still on the purpose of dressing, shoes range is as wide as that of clothes. Other products like door and window curtains, bed covers and bed sheets are available.
Next a seller should become familiar to the needs or wants of the targeted customers. The good must have an original value that customers can identify with the customers. The seller should assess at the start if he will be able to produce the good and make more if the demand for production goes higher.
The seller should be knowledgeable of who his market is and how big his potential market is. Also, the dealer should consider knowing if the governments rules and regulations can affect the product say if the products require permits from the government. The seller must know and familiarize himself with the products unique selling proposition i. E. The products uniqueness that makes it stand out amidst other similar products. Finally, the dealer should seek clarity on the idea of the cost structure and how much sales need to be made to post a profit.
Most importantly, the seller should be in the know if the laws or government rules and regulations can impact the good. For instance, some products can be sold without the need of approval by the government while others require permits from a government. Seller of that product must know and understand the products unique selling proposition i. E. The one thing that makes a product different from many others just like it. This is to ensure survival of this product.
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