Product is a set of tangible, and intangible and associated attribute capable of being exchanged for a value with ability to satisfy consumer and business need the other analogous term include product mix product line and product item product mix is a composite of product product line is a group of closely related product and product item is a specific version of a product traditional product has been classified as consumer industrial product durable and nondurable product convenience and shopping speciality product classification does not categories the product in such a manner that I can give them like white blue and black a new product is any product that is perceived by the customer as when you're done unit may be perceived when the product has been either offered at low price of a modification has been made on it or even offered in a new packages a product is new as long as customer perceive it to be so in a highly competitive market new product strategy is one of the internal growth strategies to make new product successful the marketer should understand the process of new product development and also that diffusion new product Idea innovation in a given market cultural social factor cost best quality and perceived benefit go long while determining whether a new product will succeed product market is a combination of a product and the group of people who have demand for that product on product product decision provide the foundation and rational judgement for designing entire marketing programmes.
