"why is product and production important" Product is a thing that is grown or produced, essentially for consumption and mostly for sale. It is a thing produced through natural, chemical or industrial process , while production is the act of growing and making of food,goods or materials in large quantities (mass production for sale in other to make money.example, cars,plates, toothpaste etc.
Product and production is about the business of growing, making of food, goods or materials in large quantities as products which in turn is sold to consumers to meet or satisfy their needs as it were. Importance of products and productions as a relationship between business, human needs and services. Production is a business activity and business involves making, buying, selling or supplying goods or services for money. e.g commerce and trade. The importance of production is making products available in the market in large quantities for buyers and consumers who might need them, it is important as a business activity that contributes to the growth of the business through the sales of the items produced. Products importance is about meeting the needs or satisfactions of individual consumer at any particular time or period. Products exist to meet human choices and to improve life activities which includes entertainments in forms of television productions and plays.there are various brands of products in the market for sale at different prices with different qualities, the quality of a product determines its demands by consumers which might as well influence it's Price. Quality is the standard of something or product when compared to other products like it, quality is about how good something or product is. High quality products creates name for itself even where a brand name exist, it encourages demand for the products, an increase in demand calls for increase in production output, high turnover and growth in profit. People and consumers buy products that meet their needs which suggests that good and quality products are beneficial to both the consumer who derives satisfactions from the products and the producers who makes lots of sale, turnover and profits. In business, high profit means much money for entrepreneur or share holders, enough money for research and employees welfare programs and packages . Putting quality products in the market for sale encourage customer loyalty and gives producers an edge over other competitors, products that satisfy customers needs and desire is like the link between the producer and the consumer. It is therefore safe to believe that products satisfactions to consumers depends largely on individual and their needs at any particular time. example , in buying a car for a large family of about seven person's and above, one will need a bus from a company that are known for producing durable cars either for long or short distance journeys. Products is a thing that is grown or produced essentially for consumption and for sale as the case may be, it is made possible through natural, chemical or industrial process. Production on the other hands is the act of making products available to consumers through all necessary means available.
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