Product meaning

In a company, products are essential to generate sales. Many people are involved in product development and sales. However, on the other hand, there may be many people who do not understand the meaning of products in business situations or the meanings of related terms.

In this article, we will explain the correct meaning of product and also introduce related terms.

Many working adults are likely to be engaged in work related to products. Please take this article as an opportunity to deepen your understanding of the product, as it is a familiar product.

What is a product?

A product is any product sold by a company or individual. Products include not only tangible products, but also intangible products such as software, systems, and insurance products.

The word “service” is often mentioned as a companion to the word “product,” but if the service itself has value, and it is a product provided by a company or individual, “service” can also be considered a product. Masu.

Product is a word used in the

IT

and

marketing

industries, and is one of the words that frequently appears in business scenes. Rather than thinking of products as products, and limiting the recognition to tangible products, it is important to understand that intangible products and services themselves are also products.

Product-related terms

Although the word “product” is often used alone, in business settings it is often used in combination with other words.

Among the terms related to products, the following are the words and their meanings that you should remember in business situations.

1. Product Manager: This position is responsible for managing products and products from development to release.
2. Product Out: One of the policies for product development, it is a strategy for creating and selling the product that the developer wants to create. The antonym is “market-in,” which means creating and selling products that are in demand in the market.
3. Produce: Refers to planning and producing a product. In addition, the company or organization that handles all aspects of production is called a “production”.

The three words above are often used in various industries, so be sure to understand their meanings.

Reference article

Related terms