Market exchangeable

Marketing mix

A marketable (alternatively known as a marketable product or, simply, product) is any item that can be sold or serve as a not-for-sale source of the items that can be sold.

Trivia

Definitions

According to Marketing Management by Keller and Kotler (15th edition),

Product. Anything that can be offered to a market to satisfy a want or need, including physical goods, services, experiences, events, person, places, properties, organizations, information, and ideas.

According to Managing Quality by Foster (6th edition),

Product. A tangible good that is produced for a customer.

Product vs marketable

Literally, product is anything that is produced. This term, product, has a wide range of applications:

• In business and marketing, product usually refers to marketable product (or, simply, the marketable) that is produced by either an industrial process or farming to be sold and re-sold as a commodity.
• In business analysis, product may refer to either a work product that the customer seeks to obtain or a work product that is the result of the work of business analysts.
• In engineering and project management, product usually refers to work product.
• 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.

Types

Intangible vs not-for-sale vs tangible

With regard to its nature, a marketable can be one of the following:

1. Intangible, which is something identifiable, but not tangible such as concepts, data, enterprises, events, experiences, ideas, information, labor, marketable permits, marketable securities, personal time, services, software, and any other non-physical property.
2. Not-for-sale, which is anything that is not (such as publicly-owned locations or places) and/or cannot (such as communities, governments, and persons) be private properties.
3. Tangible, which is a physical good such as animals, buildings, hardware, land, produce, and any other physical property.

Earned vs made vs purchased

With regard to the way of its completion, a marketable can be one of the following:

1. Work product or produced marketable, which is made as a solution or component of a solution that is the primary result of a project or operations. In other words, a produced marketable is an article or substance that is produced and refined for sale.
2. Purchased item available for sale.
3. Earned entity, which is not just a work product and cannot be sold itself, but is a not-for-sale source of the items that can be sold. These sources include communities, publicly-owned locations, governments, and people.

Features

• Marketing mix. A model representing distinguishable components of any product, which must include a deliverable, product delivery, and product charge.
• Product scope. All the features and functions that characterize a product.
• Service. Work carried out or on behalf of others.

Related lectures

• Business Modeling Quarter.