What is a product?
The term product will be different for every company. For example, product in the context of a hotel refers to the hotel itself, to the hotel room, the pool the hotel has, the beach the hotel is on (if the hotel is on a beach), and the lobby of the hotel. In the case of a theater, the product is the seat the viewer sits in, the movie that is playing, and the food counter where candy and popcorn is sold. In the case of an automobile manufacturer, the product is the car that is manufactured and any parts that are manufactured independently. So the product can take on different meanings, as shown in Fig 5.8.
