Explain the following term/concept Product - Organisation of Commerce and Management

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Short Note

Explain the following term/concept

Product

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Solution

Product refers to the goods or services that are offered to the customers for sale and are capable of satisfying the need of the customer. The product can be intangible or tangible, as it can be in the form of services or goods. The business needs to decide the right type of product through extensive market research. The success of the business depends on the impact of the product in the minds of the customer.

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Chapter 8: Marketing - Exercise [Page 167]

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