In business and marketing, a product is any tangible good, intangible service, or digital system offered to a market to satisfy a consumer need or want.
Depending on your specific context, “what kind of product” usually refers to one of three categories: 1. The Core Marketing Classifications
In commerce, products are broadly split into consumer products (bought for personal use) and industrial products (bought for business use). Core marketing theory breaks consumer goods down into four distinct categories:
Convenience Products: Items bought frequently and with minimal effort, like Fast Moving Consumer Goods (e.g., milk, toothpaste, soap).
Shopping Products: Items consumers compare by quality, price, and style, such as furniture, clothing, or electronics.
Specialty Products: Products with unique characteristics or brand identification that buyers make a special effort to purchase, like luxury cars or high-end medical equipment.
Unsought Products: Goods that consumers do not normally think of buying or do not know exist, such as life insurance or smoke detectors. 2. Product Mediums
Products are also defined by their format and how they are delivered:
Physical Goods: Tangible items manufactured, shipped, and held in your hands (e.g., a smartphone or sneakers).
Digital Products: Intangible software-driven solutions, including Software-as-a-Service (SaaS), mobile apps, or e-books (e.g., Slack, Miro, or Spotify).
Services: Intangical acts or performances provided in exchange for payment, like legal consulting, banking, or a hair salon treatment. 3. The Job Interview Question Medium·Tom Wolfstein
How to answer the “Tell me about a product you like” question.
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