Question
‘Product is a mixture of tangible and intangible attributes’. Discuss.
Solution
When we think about a product, generally, it refers only to the tangible attributes of a product, e.g., we say we have bought a Bike. But while we take a buying decision we alongwith tangible attributes also consider the intangible attributes of a product. The examples of intangible attributes are: brand name, image of the company, guarantee, warranty, packaging, and many other such attributes. Therefore, in marketing, product is a mixture of tangible and intangible attributes, which are capable of being exchanged for a consideration and satisfied the customer needs.
