Welcome to my first article in the PM 101 series, where I will be sharing my thoughts on Product Management. As a part of this series, I will share various topics in simplified terms.
In basic terms, a product is a commodity or thing that is created to be sold and used by customers to fulfil a need or solve a problem.
It can be physical (like a phone or a car) or digital (like Spotify or a kindle)
Here Phone is a "Physical Product" that fulfills the need for communication and access to information
And Spotify is a "Digital Product" that provides access to a vast library of music and podcasts to listen to and is accessed through a website or an app.
But wait, then what is a service, and how it is different from a product?
In my next article, I will answer these questions, and will provide a few real-life examples for easy understanding, Until then stay tuned!