What do you mean by “Product”?

1.	What do you mean by “Product”?
Answer» A ‘product’ is a tangible/non-tangible item created to produce SPECIFIC value for a GROUP of customers and to the organization that provides it. A product can be anything, it can even be an idea. From that, a spoon would be a product. The Facebook application would be a product. Agile consulting services would be a product. A painting would be a product. A product can be SOMETHING physical (the spoon). It can be a digital product (Facebook application, an e-book or online videos). It also can be a service (consulting). As stated by Mike Cohn – “Products Can Be Defined Recursively” which MEANS a product can EXIST within another product. Another important thing to note is, the product should deliver some value to the customer. Even the smallest entities in the product (sub-product) should be beneficial to the market.

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