What is the definition of a Product?

• A service or an item
• Can be physical or virtual
• Offered for sale or usage

What are the main Product Types?

• B2B - means that businesses are buying the product
• B2C - means that consumers are buying the product
• There are additional types such as B2B2C, B2G, and more

What is the Product Lifecycle?

• Introduction (usually loses money)
• Growth (usually income is on the rise)
• Maturity (usually income and revenue are at the top)
• Decline (usually income and revenue are dropping)