Definition 1:
Products are materials or substances created to be sold as commodities mostly through mass production at factories. They are also referred to as “goods”.
Definition 2:
Products are also used to refer to the results of any action or procedure which can be either a person or an inanimate object. This is like an abstract version of the product defined under Definition 1.
Definition in Mathematics
Product is the result of multiplication in the language of Algebra. After multiplying as many times as necessary, the end result is called product.
Types of Products:
There are two major types of products when it comes to Definition 1 which are manufactures goods. And they are -
- Industrial and
- Consumer Products
Consumer products can be divided into four subtypes and they are
- Convenience (final goods sold at convenience stores),
- Shopping (things that require extreme comparing and budgeting),
- Specialty (unique goods that lack any substitute in the market) and
- Unsought Products (nobody particularly seeks these unless obligated)
Use the Term in Sentences:
- The look was compromised in the final product; it looked very little like the pictures of that seen at the official launch.
- Raw materials, factory equipment, machine parts etc. fall under the industrial type products.
- No matter how many times zero is multiplied the product is always going to be zero.