Final answer:
The statement is false; product quality includes more than just physical characteristics, also encompassing performance, reliability, and aesthetics.
Step-by-step explanation:
The statement that the sum of all the product's physical characteristics is called product quality is false. Quality is a broader concept that not only encompasses the physical aspects of a product, such as durability or usability, but also includes factors like performance, reliability, and aesthetics. The physical aspects of a product do play a significant role in determining the product's quality, including features advertised such as an unbreakable bottle, nonstick surface, or being freezer-to-microwave safe. However, product quality is also greatly influenced by the value of the technology and the ideas that contribute to the product's function and design, which often surpass the value of the physical materials involved.