(THE FIRST P OF MARKETING MIX)
The main objective of the marketing is to sell something which is a product around which revolve all the remaining three Ps. A product is the composite of its substance, packaging, label, brand and trademark.
A product includes
1. Goods and
Goods are tangible, solid, can be touched and seen. Examples are cars, books, calculators. Services on the other hand, are intangible goods, invisible and can only be sensed or perceived. When we sell goods we also sell services like guarantee or warranty, home delivery, after-sales service etc. Selling services (e.g. traveling, educating, training, renting, entertainment) include goods as meals, ticket, and souvenir.
Selling a product requires an effective policy, which can only be set on the following considerations.