Business Product

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

• AKA: Commercial Product, Company Product, Digital Product, User Product.
• Context:
  • It can be used by a Customer.
  • It can range from being a Physical Business Product, a Service Business Product, to being a Virtual Business Product (e.g., a license to a patented idea).
  • It can have:
    • a Company Product Name.
    • a Company Product Release Date.
    • a Purchase Price.
  • It can range from being a Consumer Product (Business-To-Consumer Product) to being a Business-To-Business Product.
  • It can be associated with a Product Category (e.g., a Consumer Electronics Product, Book Product, Car Product, Cosmetics Product, ...).
  • It can range, depending on its Purchase Price, from being a Free Product to being a Saleable Product.
  • It can be within a Product Category.
  • It can be associated with a Product Review.
  • It can be associated with a Product Label, e.g., PRODUCT.
  • It can be represented in:
    • a Product Mention (e.g., “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?” from http://www.ocztechnologyforum.com/forum/showthread.php?t=47184)
    • a Product Record (e.g., http://www.icecat.biz/en/p/OCZ/OCZSSD2-2C30G/Core%2520Series%2520V2%2520SATA%2520II%25202.5%2522%2520SSD.htm)
  • It can (typically) be designed to meet specific Customer Needs and preferences.
  • It can (often) undergo continuous Improvement based on Customer Feedback and Market Trends.
  • It can involve various stages of the Product Lifecycle, from development to post-sale support.
  • It can require comprehensive Customer Support Services to ensure satisfaction and address issues.
  • It can include features tailored to enhance User Experience and Usability.
  • It can be marketed and sold through various Channels, including online platforms and physical stores.
  • It can leverage Data Analytics to understand customer behavior and preferences for better targeting.
  • It can be part of a Broader Product Portfolio offered by a company.
  • It can influence Brand Loyalty and Customer Retention based on its performance and reliability.
  • ...
• Example(s):
  • Physical Business Product:
    • New Volkswagen Beetle 1998
    • “Nokia N95 8G”
      • 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”
      • 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?” from http://www.ocztechnologyforum.com/forum/showthread.php?t=47184
      • 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 Product:
    • Yahoo's keyword searching patent US patent 6269361
  • Software Business Product:
    • Firefox v3.0.11 released by the Mozilla Foundation
    • Microsoft Word v11 released by the Microsoft Corporation
    • Google Search released by Google Inc.
    • Wikipedia released by the Wikimedia Foundation
  • ...
• Counter-Example(s):
  • a Commercial Product Component.
  • a Company Headquarter.
  • a Company Employee.
  • Internal Company Tools, which are not intended for external customer use.
  • Prototype Products, which are still in the testing phase and not yet available to customers.
  • ...
• 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

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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