CLASSIFICATION OF PRODUCTS
THE MEANING OF PRODUCT
Evans and Herman, (1994) defined a product as an idea, a physical entity (a good) or a service, or any combination of the three. It exists for the purpose of exchange in the satisfaction of individual and organizational objectives.
Kotler and Armstrong (2001) said that a product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need. It includes physical objects, services, persons, places, organizations, and ideas. [Read more…]