Business Product

A Business Product is an economic good that is released by a product company into a market.

• AKA: Commercial Product, Company Product, User Product.
• Context:
  • It can (typically) be designed to meet specific Customer Needs through product development.
  • It can (typically) have Company Product Name for market identification.
  • It can (typically) have Company Product Release Date for launch timing.
  • It can (typically) have Purchase Price for market positioning.
  • It can (typically) require Customer Support Services for user satisfaction.
  • ...
  • It can (often) undergo Improvement based on Customer Feedback.
  • It can (often) respond to Market Trends through product updates.
  • It can (often) include features for enhanced User Experience.
  • It can (often) leverage Data Analytics for customer understanding.
  • It can (often) influence Brand Loyalty through performance.
  • It can (often) affect Customer Retention through reliability.
  • ...
  • It can range from being a Physical Business Product to being a Virtual Business Product, depending on its product form.
  • It can range from being a Consumer Product to being a Business-To-Business Product, depending on its target market.
  • It can range from being a Free Product to being a Saleable Product, depending on its Purchase Price.
  • ...
  • It can be used by a Customer for intended purpose.
  • It can be within a Product Category for market classification.
  • It can be associated with a Product Review for quality assessment.
  • It can be associated with a Product Label for identification.
  • It can be part of a Broader Product Portfolio for market coverage.
  • It can be marketed through various Channels for distribution.
  • It can be represented in Product Mentions for market presence.
  • It can be represented in Product Records for documentation.
  • It can involve various stages of Product Lifecycle for management.
  • ...
• Examples:
  • Physical Business Products, such as:
    • New Volkswagen Beetle 1998 for transportation.
    • Nokia N95 8G with:
      • Product Mention: "Let's show off the Nokia N95 8G during Cape of Good Hope's ex-notaries public convention."
      • Product Record: http://www.nokia.ca/A4688741
      • Product Marketing Page: http://explore.toshiba.com/laptops/satellite/A300
    • 30GB OCZ Solid Series SATA II 2.5" SSD with:
      • Product Mention: "Just a very basic question, would it be alright to put 2 x [30GB OCZ Solid Series SATA II 2.5" SSD] into RAID0 on an ICH10R controller?"
      • Product Record: http://www.icecat.biz/en/p/OCZ/OCZSSD2-2C30G/Core%2520Series%2520V2%2520SATA%2520II%25202.5%2522%2520SSD.htm
      • Product Marketing Page: http://www.ocztechnology.com/products/flash_drives/ocz_solid_series_sata_ii_2_5-ssd
  • Virtual Business Products, such as:
    • Yahoo's keyword searching patent US patent 6269361 for search technology.
  • Software Business Products, such as:
    • Firefox v3.0.11 released by the Mozilla Foundation for web browsing.
    • Microsoft Word v11 released by the Microsoft Corporation for word processing.
    • Google Search released by Google Inc. for information retrieval.
    • Wikipedia released by the Wikimedia Foundation for knowledge sharing.
  • ...
• Counter-Examples:
  • Commercial Product Components, which are not complete products.
  • Company Headquarters, which are facilities not products.
  • Company Employees, who are personnel not products.
  • Internal Company Tools, which lack market release.
  • Prototype Products, which lack market availability.
• See: Entity, Entity Type, Business-To-Business, Business-To-Consumer, Product Review Site, Product Marketing Page, Retail Company, E-Commerce, Product Development.

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References

2025

• (Wikipedia, 2025) ⇒ https://en.wikipedia.org/wiki/Product_(business) Retrieved:2025-1-14.
  • In marketing, a product is an object, or system, or service made available for consumer use as of the consumer demand; it is anything that can be offered to a domestic or an international market to satisfy the desire or need of a customer. In retailing, products are often referred to as merchandise, and in manufacturing, products are bought as raw materials and then sold as finished goods. A service is also regarded as a type of product.

    In project management, products are the formal definition of the project deliverables that make up or contribute to delivering the objectives of the project.

    A related concept is that of a sub-product, a secondary but useful result of a production process.

    Dangerous products, particularly physical ones, that cause injuries to consumers or bystanders may be subject to product liability.

2011

• (Wikipedia, 2011) ⇒ http://simple.wikipedia.org/wiki/Product_(business)
  • QUOTE: In general, the product is defined as a "thing produced by labor or effort" or the "result of an act or a process", and stems from the verb produce, from the Latin prōdūce(re) '(to) lead or bring forth'. Since 1575, the word "product" has referred to anything produced. Since 1695, the word has referred to "thing or things produced".
  • NOTE: In Economics and Commerce, products belong to a broader category of Goods. The economic meaning of product was first used by political economist Adam Smith.
  • NOTE: In Marketing, a product is anything that can be offered to a Market that might satisfy a want or need. In Retailing, products are called Merchandise. In Manufacturing, products are purchased as Raw Materials and sold as Finished Goods. Commodities are usually raw materials such as metals and agricultural products, but a commodity can also be anything widely available in the open market. In Project Management, products are the formal definition of the Project Deliverables that make up or contribute to delivering the objectives of the project. In insurance, the policies are considered products offered for sale by the insurance company that created the contract.

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