Question

Which of the following correctly defines a​ product?

A. Products include tangible objects and services but not events or people.
B. Products are only tangible objects offered to a market to satisfy a want or need.
C. A product is anything offered to a market that might satisfy a need or want.
D. Products have two​ levels: the actual product and the augmented product.
E. A product is not a part of the overall market offering.

Answer 1

Answer: Option C

Explanation: In simple words, a product refers to an entity that that could be tangible or intangible and is produced by the manufacturer for satisfying the wants of its customers.

Hence anything that is offered to the market and has the ability to satisfy the needs of specified individuals will be classified as a product.

Thus, the correct option is C.