product
Cars, chocolate bars, insurance, flights, trainers – they are all products. The customer is the individual or group that buys a product and a consumer is the one who uses it.
Through market research, a company can examine what the market wants, and look at their current products and services to see if they are satisfying the customer's needs. By analysing the market and its requirements, companies can change a product or develop a new product in order to match the requirements of the people they are targeting.
In order to sell their product or service, companies need to persuade customers and consumers that their product is different to or better than other similar products and services – that it has a unique selling point (USP).
They might give it a special feature that no similar products have. Alternatively, they might use advertising or eye-catching packaging to make their product stand out from the competition.
A selection of Cadbury's products
