The general definition of a product in business indicates that a product is any good or service placed on sale by a seller for the consumers. Goods are physical products, whereas services are defined as virtual products. Different companies may offer goods or services, or both forms of products. Different companies specialize in the manufacture and provision of different products to their customers. For instance, in a company that majors in the production and sale of bicycles, it is only logical to expect the company to produce bicycles and related spare parts. A shop that specializes in bicycles provides new bicycles, spare parts, and the products associated with bicycle repair. These products may include repair tools, glues, gloves, and pumps.
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Bicycle stores also provide riders’ gear for safety purposes. The bicycle store may also provide delivery services as products to its customers. A travel agent provides different products that relate to hospitality and leisure. Some of the products offered include tour guiding, accommodation services, touring packages, and travel services. Most of the products offered by travel agencies are different touring services offered to tourists. A supermarket offers retail products for domestic usage. These products include home appliances, processed foodstuff, furniture, sanitary products, and utensils, among many other products. The supermarkets offer goods to their customers, as well as services (Volpe & Li, 2012). The most common service offered by supermarkets is home delivery of products. Most supermarkets offer free services to their customers as incentives to keep shopping in their enterprises. A new car dealer specializes in car sales, and the new cars are its major products. The companies also offer services to their customers, which may include deliveries and car tests.
Perreault, W.D., Cannon, J.P., & McCarthy, E.J. (2010). Essentials of marketing (12th ed.) New York, NY: McGraw-Hill/Irwin.
Volpe, R. J., & Li, C. (2012). On the Frequency, Depth, and Duration of Sales at High–Low Pricing Supermarkets. Agribusiness, 28(2).