PRODUCT: Definition, Meaning, and Why It Matters
- Jenny Marie
- Jun 22
- 2 min read
In business, PRODUCT has a specific and practical meaning. Understanding what a product is will help you sell more effectively and create something people want to buy.
Definition of PRODUCT
A product is a good idea, method, information, object, or service created and designed to serve a need or want. Here are examples of each of those:
Idea – A new way to reduce food waste (sold as an idea for licensing).
Method – A step-by-step system for organizing, sold as a training.
Information – A downloadable guide that teaches people how to sell.
Object – A reusable water bottle.
Service – A virtual assistant managing your email and calendar.
It’s what you offer to a customer—and it’s more than just the physical item or service. It includes (what it is), (what it does), and (how it helps the buyer).
You're not just selling something. You’re selling what that something does for the customer.
There are two parts to every product:
What it is – the item or service itself, including what it looks like, how it works, and what’s included.
What it does for them – how it helps, the problem it solves, or the way it makes someone feel.
It’s what you offer to a customer—and it’s more than just the physical item or service. It includes (what it is), (what it does), and (how it helps the buyer).
Examples of PRODUCTS
A company sells a toothbrush. The physical product is plastic and bristles—but what’s really being sold is healthier teeth and better hygiene.
A business sells an online course. The product isn’t just videos; it’s the transformation the buyer experiences after learning something valuable.
A software app offers time-tracking tools. The product is digital, but the benefit is better focus, organization, and time management.
Why Defining Your PRODUCT Matters
If you can’t explain what your product is, you’ll struggle to sell it. A strong product has: a clear purpose, real value to the buyer and features and benefits people understand and want. Defining your product helps you design better offers, create better marketing, and build demand from customers.
If you can’t explain what your product is, you’ll struggle to sell it.
Common Misconceptions or Misuses
Some people think of a product as a physical item. Not true—services and digital goods are products too.
Others assume “the product” is just what’s delivered, not what it represents or helps with.
Some businesses forget to define the emotional benefits (what makes someone actually want the product) which can result in less sales.
Final Thoughts
A product isn’t just what you make—it’s the result people are buying for. When you understand that, you can market and sell better as well as create things that actually matter to your customers.
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