Product (business)

A tangible product is an actual physical object that can be perceived by touch such as a building, vehicle, gadget, or clothing.

[citation needed] Various classification systems for products have been developed for economic statistical purposes.

[8] The Aspinwall Classification System [9][10] classifies and rates products based on five variables: The National Institute of Governmental Purchasing (NIGP)[11] developed a commodity and services classification system for use by state and local governments, the NIGP Code.

For example, Dyson Ltd, a manufacturer of appliances (mainly vacuum cleaners), requires customers to identify their model in the support section of the website.

[15] Because of the huge amount of similar products in the automotive industry, there is a special kind of defining a car with options (marks, attributes) that represent the characteristics features of the vehicle.

In the case of automotive products, it is called the vehicle identification number (VIN), an internationally standardised format.

[27] Development of 'transparency by design' scenarios have been suggested to "complement the physical product with layers of digital information", improving transparency and traceability (T&T).

[28] The app CodeCheck gives some smartphone users some capability to scan products for assessed ingredients.

It consists of a set of data describing defined characteristics of materials in products, useful for recovery, recycling, re-use and various evaluations.

This product data is created by an internal organization to support a multichannel marketing strategy.

A central hub of product data can be used to distribute information to sales channels such as e-commerce websites, print catalogues, marketplaces such as Amazon and Google Shopping, social media platforms like Instagram and electronic data feeds to trading partners.

Moreover, the significant role that PIM plays is reducing the abandonment rate by giving better product information.