Definitions (3)
1. General: Good, idea, method, information, object, service, etc., that is the end result of a process and serves as a need or want satisfier. It is usually a bundle of tangible and intangible attributes (benefits, features, functions, uses) that a seller offers to a buyer for purchase.
2. Law: Commercially distributed good that is (1) tangible personal property, (2) output or result of a fabrication, manufacturing, or production process, and (3) passes through a distribution channel before being consumed or used.
3. Marketing mix: Good or service that most closely meets the requirements of a particular market or segment and yield enough profit to justify its continued existence.
Featured Tip
Perfect price discrimination is the term given to charging each customer as much as that customer will pay. Note that some types of price discrimination are legal and others are not. Some ways you can ... Read more
Additional Tip(s)
- What differentiates your product from competitors'?
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- Surf Ahead of the Wave
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