Product

Products are outputs of a production process and by its nature are divided into:

• Tangible products - goods
• Intangible products – services

Mission of each organization is to provide its customers either a service or sell them, or otherwise provide its goods. In this sense, the products are the result of organization’s activities. The product, however, can be also applied to the outcome of activities of individuals, groups, or a production process.

Related terms and methods:

Five types of supply – products classification

• Production process
• Services
• Goods

Related management fields:

• Production
• Services provision