What is product? Product is anything what can be offered to a market and what can satisfy a want or need. It can be material good, services, people, places ... In retailing, products are called merchandise. In manufacturing, products are bought as raw materials such as metals or agricultural products and sold as finished goods. The verb produce comes from the Latin word producere what means to bring forth. The noun product is a thing produced by labour. The economic and commercial meaning of product was first used by Adam Smith.