Difference between revisions of "Product"
(→Service vs product) |
(→Marketable vs work product) |
||
| Line 7: | Line 7: | ||
==Marketable vs work product== | ==Marketable vs work product== | ||
| + | :''Main wikipages: [[Marketable]], [[Work product]]'' | ||
| + | |||
A [[marketable]] is anything that is offered on the [[market]] for sale. Usually, but not necessarily, a [[marketable]] is a [[work product]]. On another side, a [[work product]] is any output from a [[process]]. A [[work product]] may be offered on the [[market]] or be consumed internally. | A [[marketable]] is anything that is offered on the [[market]] for sale. Usually, but not necessarily, a [[marketable]] is a [[work product]]. On another side, a [[work product]] is any output from a [[process]]. A [[work product]] may be offered on the [[market]] or be consumed internally. | ||
Revision as of 14:00, 30 December 2020
Literally, product is anything that is produced. This term has a wide range of applications:
- In business and marketing, product usually refers to marketable product (or, simply, the marketable) that is developed by an industrial process or farming to be sold and re-sold as a commodity.
- In business analysis, product may refer to work product that either business analysts produce or the customer seeks to obtain when their requirements are implemented.
- In effort administration, systems engineering, and project management, product usually refers to work product, so does this word, product, in the product backlog and product backlog item (PBI) terms.
- In mathematics, product is the result from the multiplication together of numbers or expressions.
- In social science, product is something or someone resulting from environment or a set of other conditions.
Marketable vs work product
- Main wikipages: Marketable, Work product
A marketable is anything that is offered on the market for sale. Usually, but not necessarily, a marketable is a work product. On another side, a work product is any output from a process. A work product may be offered on the market or be consumed internally.
Service vs product
- Service is what the service consumer orders and gets; this is only a part of what the service provider produces.
- Product is what the service provider produces in order to provide the service consumer with the ordered service. One service is a result of one or more service-making products.
However, the usage of these two terms, product and service is not consistent throughout various industries and geographic areas. In marketing, a term, service, generally refers to a product.
