ABSTRACT
When the term product is used in marketing, it can refer to a tangible physical good, an intangible service, an idea, or an experience. Most products that are marketed are physical goods, such as a piece of furniture and an article of
clothing. When purchasing a tangible good, the consumer buys the actual product. However, other products, such as a haircut and a medical exam, are intangible services. When purchasing a service, it is the outcome of the process that the consumer purchases, such as looking attractive after a good haircut or feeling healthy after a medical treatment.
