In
marketing, a
product is anything that can be offered to a
market that might satisfy a want or need. In
retailing, products are called
merchandise. In
manufacturing, products are bought as
raw materials and sold as
finished goods.
Commodities are usually raw materials such as metals and agricultural products, but a commodity can also be anything widely available in the open market. In
project management, products are the formal definition of the
project deliverables that make up or contribute to delivering the objectives of the project. In insurance, the policies are considered products offered for sale by the insurance company that created the contract.