Intangible Products Are: Advantages And Examples

Previously, we discussed about tangible products. If we know that tangible products can be touched, felt, used, or seen, then intangible products are the opposite.

Intangible products are products that are intangible and do not have a physical form.

For example, intangible products can be services or assets.

What are Intangible Products?

Intangible Products

If a tangible product is a tangible or tangible product, an intangible product is a term for a product that is not tangible or intangible, not even having a physical form.

Usually included in the intangible product category are services or assets.

In this case, service is any activity or benefit offered by a party to its customers. 

The service production process is not related to physical products or goods, but services sell knowledge, skills, and also their energy to customers.

Meanwhile, assets included in intangible products are products produced on the basis of an agreement. Usually in the form of regulations, cooperation, ideas, even the brand of a trademark or brand. 

Examples of these assets include intellectual property, copyrights, patents and trademarks.

The assessment of this intangible product is based on service and performance. Someone who provides the best service and also maximum results certainly has a good reputation, in which reputation is the door to determine value for services, so the better the reputation, the more service users.

Examples of Intangible Products

After understanding the meaning of intangible products, you must also know what examples are included in intangible products.

The following is an example of an intangible product.

1. a patent which is a right granted to a company to carry out production or determine the costs incurred so as to obtain a patent that can be calculated based on a certain period of time,
2. copyrights or copyrights that are usually granted by the government or related institutions for copyright ownership to produce, reproduce, and also sell works of art or publications,
3. goodwill is an asset that arises due to a purchase whose price is higher than the price on the market,
4. Franchise is a franchise or contractual agreement between the party that takes the franchise and the franchisor for the use of certain trademarks.
5. a trademark which is a symbol or word phrase as a product or business identity. 

Strengths and weaknesses

Now, after knowing the examples and full explanations, let's go on to know briefly about the advantages and disadvantages of using this type of product.

a. Excess

1. get recognition
2. as proof of intellectual property

b. Lack

1. cannot be felt
2. may not be able to give satisfaction

So, let your marketing business run smoother and your products sell well, complete with the following assistance.

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