Product refers to a. a tangible good received in exchange for a person's time and effort. intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value. b. a good that has in some way been altered, combined, or improved and sold to organizational buyers. c. a thought that leads to an action such as a concept for a new invention. d. a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value.