Product Line Planning and Corporate Strategies

If we define a product in tis simplest commercial terms it is this: A product is something people buy-that is, in some magnitude that makes it profitable. If people don't buy it, it's not a product. The key is, "Do they buy it?"

Why do people buy poduct? Leo McGivena once said, "Last year one million quarter-inch drill bits were sold-not because people wanted quarter-inch drill bits but because they wanted quarter-inch holes."

People dont'buy product, they buy the expectation of benefits.
People spend their money not for goods and services, but to get the value satisfactions they believe are bestowed by what they are buying. They buy quarter-inch holes, not quarter-inch drills. That is the marketing view of the business process.