Question

'Product is a mixture of tangible and intangible attributes'. Discuss.

Answer 1

When we think about a product, generally, it refers only to the tangible attributes of a product. e.g. if we bought a bike, while taking buying decision, we along with tangible attributes also consider the intangible attributes of a product.

The examples of intangible attributes are brand name, an image of the company, guarantee, warranty, packaging. Therefore, in marketing, a product is a mixture of tangible and intangible attributes, which are capable of being exchanged for a consideration and satisfy the customer needs and wants.