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A product in marketing encompasses both physical items and services, with a focus on customer satisfaction. Key aspects include identifying customer needs, product development, and management. Philip Kotler’s “Levels of Product” explores layers of benefits. Products are categorized as consumer goods, industrial goods, services, and digital products. The product life cycle (introduction, growth, maturity, decline) helps strategize marketing efforts. Effective product positioning requires clear messaging, targeting, and competitive analysis. Launching a product involves thorough market research, planning, and ongoing monitoring to ensure success and customer satisfaction.