Product

A Product is a tangible form of Value; running a product-oriented Business requires:

1. Creating something tangible that people want.
2. Product that item as inexpensively as possible while maintaining an acceptable level of quality.
3. Sell as many units as possible for as high a price as the market will bear.
4. Keep enough inventory of finished product available to fulfill orders as they come in.

Products can be Durables (cars, computers, etc); consumables (chocolates, medicine); Products don't have to be physical (software, e-books).

Products are a valuable way to provide value because :

• they have potential for duplication (create once, replicate for each sell)
• consequently, products scale better than other forms of value