Market exchangeable
A marketable (alternatively known as a marketable product or, simply, product; the marketable that has already been marketed is also called a marketed entity) is anything that responding customers perceive as valuable to act upon, buy, hire, and/or trust to. Marketing offerings include:
- Benefits of a marketable for action, hire, or sale;
- Accessibility and affordability of those benefits; as well as
- Communication of the benefits, accessibility and affordability to their prospective customer.
The marketing offerings may increase or decrease the value of this marketable.
Contents
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.
- According to Cost Accounting by Horngren, Datar, Rajan (14th edition),
- Product. Any output that has a positive total sales value (or an output that enables an organization to avoid incurring costs).
- According to the Marketing Communications by Fill (5th edition),
- Product. Anything that is capable of satisfying customer needs.
- According to the ITIL Foundation 4e by Axelos,
- Product. A configuration of an organization's resources designed to offer value for a consumer.
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 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 work product that either business analysts produce or the customer seeks to obtain when their requirements are implemented.
- In effort administration, 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.
Classes
By the sought response, marketables can be classified in five classes.
Doables
Hireables
Patronables
Saleables
- Item that can be sold or re-sold, as well as
- Entity that can serve as a not-for-sale source of the items that can be sold or re-sold.
In other words, marketable can be defined as anything which value on the market, status in a group, as well as favorable or unfavorable perception can decrease or increase.
Trustables
Types
Assets for hire
- labor, personal time, capacity, labor and other resources for hire, as well as access to those resources.
Concept, idea
Credential, permit
Enterprise, organization
Event, experience
Financial products
Human(s)
- Community, group, person
Owned properties
- Private non-physical property such as software, data, information, patent
- Private physical properties such as animals, buildings, hardware, land, produce, durable physical goods (durables), and non-durable physical goods (consumables).
- Public properties such as government, police, military, publicly-owned locations
Service
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.
