Market exchangeable
A marketable (alternatively known as a marketable product or, simply, product) is any item that can be sold or a source of the items that can be sold.
Contents
Types
Earned vs made vs purchased
- With regard to the way of its completion, a marketable can be one of the following:
- 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.
- Purchased item available for sale.
- Earned entity, which is not just a work product and cannot be sold itself, but is a source of the items that can be sold. These sources include communities, geographical places, governments, and people.
Complex vs intangible vs tangible
- With regard to its nature, a marketable can be one of the following:
- Complex, which is a combination of tangibles and intangibles. Some of them such animals, and enterprises can be privately owned. The others such as geographic locations (or places), governments, and persons cannot be private properties.
- Intangible, which is something identifiable, but not tangible such as concepts, data, events, experiences, ideas, information, labor, marketable permits, marketable securities, personal time, services, software, and any other non-physical property.
- Tangible, which is a physical good such as buildings, hardware, produce, and any other physical property.
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.
Features
- Marketable compound. 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.
