What we make, offer and deliver for people's benefit.
Products are the result of our enterprise activity and encompass physical things manufactured and delivered, or services rendered to people. A product can be composed of any combination of physical goods and other tangible and intangible objects. It also includes the activities performed that lead to the production of outputs, and ultimately outcomes desired by the customer or user. They usually refer to something we make, market and deliver to commercial customers, but can also refer to something we make for employees, co-creators or other people.
A product helps people complete a task, and thereby adds value to their lives when used in the right context. It can be physical, digital, and deliver practical, emotional or monetary value.
Creating products requires product planning, management, design, engineering and provision. This typically results in a product strategy and portfolio composed of hierarchical product categories and products, which in turn are broken down into product components or features.
Depicting a tree relationship. Also known as Product Portfolio or Product Component Model.
- A car manufacturer makes cars and offers them for leasing or buying with custom loans.
- A railway company offers different trains, tickets and discount subscriptions.
- A law office offers advice, contract creation and legal representation as services.
- A company's HR department offers recruiting and contracting solutions to internal clients.
- A public weather service makes data available via a digital interface for other enterprises to use.
- Plan, categorise, and build what we make and offer to people.
- Product lifecycle management, product portfolio planning, product development, service design and delivery.
- Design platforms and services to be used to build and deliver products.
- organisation makes product
- product embodies brand
- product serves task
- product features in journey
- product requires capability
- process creates product
- physical product, digital product, service, hybrid (tag)
- external market, internal (tag)
- usage (metric)
- satisfaction (metric)
- cost (metric)