A product is defined as a bundle of attributes (features, functions, benefits, and uses) capable of exchange or use; usually a mix of tangible and intangible forms.
Thus a product may be an idea, a good, a service, or any combination of the three. It exists for the purpose of exchange in the satisfaction of individual and organizational objectives. 
Along with price, place, and promotion, product is one of the 4Ps of the marketing mix.
While the term “products and services” is commonly used, product is a term that encompasses both goods and services. 
- ^ American Marketing Association, AMA Dictionary.
- ^ Common Language in Marketing Project, 2018.