Goods are outputs of the production process, designed for the market. Goods have a material form – they are tangible products, respectively, material possessions. Goods can be stored with the fact that certain types of goods are perishable (food, selected construction materials, selected chemicals, etc.) and some goods are subject to moral obsolescence, leading to loss of a market position. Producer must therefore manage the product lifecycle.
Another type of products represents services.
Related terms and methods:
- Five types of supply – products classification
- Labor
- product life cycle
- Production process
- Market
Related management field:
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