Products:

People satisfy their needs and wants through products. So a product is anything that can be offered to someone to satisfy a need or a want. The product can be tangible (physical) e.g. T.V, soap, car, pen, etc. or intangible (service) like a haircut, transport, cleaning etc. People do not buy physical product for their own sake but because of the benefits they think they will receive from the product. So when a lady buys a tube of lipstick she is in effect buying beauty or a better look. When we choose to travel by bus we are looking for certain benefits e.g. safety, comfort, speed, etc. So marketers should concentrate on the benefits in-built in the product. Some marketers however fall in love with their products and keep emphasizing the physical features of the product and how the product is good (to their eyes of course) forgetting that people buy products because they satisfy certain needs. Such marketers are said to suffer from marketing myopia.