Market exchangeable

Marketing mix

A marketable (alternatively known as a marketable product or, simply, product; the marketable that has already been marketed is also called a marketed entity) is the component of market offerings that reacting customers perceive as valuable to be entitled to, to consume, to donate to, to earn, to hire, to own, and/or to trust to. These market offerings may increase or decrease the value of this marketable.

Trivia

Definitions

According to Marketing Management by Keller and Kotler (15th edition),

Product. Anything that can be offered to a market to satisfy a want or need, including physical goods, services, experiences, events, person, places, properties, organizations, information, and ideas.

According to Managing Quality by Foster (6th edition),

Product. A tangible good that is produced for a customer.

According to Cost Accounting by Horngren, Datar, Rajan (14th edition),

Product. Any output that has a positive total sales value (or an output that enables an organization to avoid incurring costs).

According to the Marketing Communications by Fill (5th edition),

Product. Anything that is capable of satisfying customer needs.

According to the ITIL Foundation 4e by Axelos,

Product. A configuration of an organization's resources designed to offer value for a consumer.

Marketable vs product vs result

Literally, product is anything that is produced. This term, product, has a wide range of applications:

• In business and marketing, product usually refers to the marketable that is produced by either an industrial process or farming to be sold and re-sold as a commodity.
• In business analysis, product may refer to work product that either business analysts produce or the customer seeks to obtain when their requirements are implemented.
• In effort administration, engineering, and project management, product usually refers to work product, so does this word, product, in the product backlog and product backlog item (PBI) terms.
• In mathematics, product is the result from the multiplication together of numbers or expressions.
• In social science, product is something or someone resulting from environment or a set of other conditions.

Classes

By the sought response, marketables can be classified in six classes.

Allowables

Main wikipage: Allowable marketable

Any authorization to act on one's property without changing its ownership that its authority or owner offers on the market. Allowables include licenses, lodging, marketable permits, and temporary accesses.

Capables

Main wikipage: Capable marketable

The work products that are offered on the market to change capacities of benefited entities. Capables include group statuses, market values, rank positions, as well as professional credentials including work-related knowledge, skills, and professional abilities.

Hireables

Main wikipage: Hireable marketable

Any work that its trader offers on the market. Hireables include labor and any services that represent one's performances on behalf of another entity.

Patronables

Main wikipage: Patronable marketable

Anything that can be offered on the market to be patronized. Patronables include businesses, cause solutions, communities, enterprises, events, experiences, governments, groups, ideas, locations, and not-for-profits.

Saleables

Main wikipage: Saleable marketable

Any property that is offered on the market for sale. Saleables include animals, financial products, intellectual properties, investment products, marketable securities, patents, and physical goods.

Trust appealers

Main wikipage: Trust appealer

Anything that can be offered on the market to be trusted. Trust appealers include concepts, organizations, persons, persuasive speeches, and religions.

Classifications

Earned vs made vs purchased

With regard to its origin, a marketable can be one of the following:

1. Earned entity, which is not just a work product and cannot be sold itself, but is a not-for-sale source of the items that can be sold. These sources include communities, publicly-owned locations, governments, and people.
2. Purchased item available for hire and/or sale.
3. Work product or produced marketable, which is made as a solution or component of a solution that is the primary result of a project or operations. In other words, a produced marketable is an article or substance that is produced and refined for sale.

Final vs intermediate

With regard to its users, a marketable can be one of the following:

1. Final marketable.
2. Intermediate marketable.

For-sale vs not-for-sale

With regard to its nature, a marketable can be one of the following:

1. For-sale
2. Not-for-sale, which is anything that is not (such as publicly-owned locations or places) and/or cannot (such as communities, governments, police, military, and persons) be private properties.

Intangible vs tangible

With regard to its nature, a marketable can be one of the following:

1. Intangible, which is something identifiable, but not tangible such as concepts, data, enterprises, events, experiences, ideas, information, labor, marketable permits, marketable securities and investment products, patent, resource time, services, software, and any other non-physical property.
2. Tangible, which is a physical good such as animals, buildings, hardware, land, produce, durable physical goods (durables), non-durable physical goods (consumables), and any other physical property.

Features

• Marketing mix. A model representing distinguishable components of any product, which must include a deliverable, product delivery, and product charge.
• Product scope. All the features and functions that characterize a product.
• Service. Work carried out or on behalf of others.

Related lectures

• Business Modeling Quarter.