How do you define a Product?
A product is no longer just a tangible object, but a set of opportunities that provide value to users.
If you took a marketing-related subject in college, you will surely remember the definition used by some professors to define a product:
A product is a set of tangible (shape, size, color...) and intangible (brand, company image, service...) characteristics and attributes that the buyer accepts as something that will satisfy his needs.
But what are these needs?
We owe much of business management and the development of organizational behavior to the American psychologist Abraham Maslow, who published his work "The Theory of Human Motivation" in 1943.
Maslow hierarchized human needs in a pyramid of 5 levels, from the basic to the most complex. He affirmed that a person's true motivation arises from unsatisfied needs and, as these needs are satisfied, the point of self-fulfillment is reached.
Although many years have passed since this analysis, people still have the same needs. So this model is still widely used to this day.
This is how many companies position themselves…
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