What is a formal product?

Answer 1

In marketing, the formal product is the actual product - what you actually receive. Compare this to the core product, which is the benefit/utility derived by the consumer. A watch can be used as an example. The formal product could be whether the watch is leather or metal, battery-operated, etc. The core product would be the more abstract reasoning as to selecting a watch: status appeal, knowledge of time, style/fashion, gifting, etc.

Answer 2

A formal product is a term used in mathematics to refer to the result of multiplying two or more numbers or variables together. In algebra, a formal product can be expressed using the multiplication symbol or parentheses to indicate the operation. For example, in the expression (x + 2)(x - 3), the formal product is obtained by multiplying the terms x and x, x and -3, 2 and x, and 2 and -3.

Answer 3

A formal product refers to a product that has been designed, produced, and distributed according to established standards and regulations, typically in a systematic and structured manner. This helps ensure quality, consistency, and reliability in the product's performance and functionality.