“ Product bought by individuals and organizations for further processing or for use in conducting a business”.
There are three stages of industrial products ( i )Material and parts.
( ii ) Capital items (iii) Supplies and Services
( i ) Material and parts :-
Material and parts include raw material and manufactured material and parts. Raw material consists of farm products (Wheat, Cotton, Live Stock, Fruits, Vegetables ) and material products ( fish, Lumber, crude, Petroleum, iron ) manufactured material and parts consists of components material (iron, yarn, cement, wires and components parts (small motors fires, castings)
( ii ) Capital Items:-
Capital items are industrial products, hot aid in the buyer’s production or operations including installation and accessory equipment etc. e.g. building, fixed equipment, accessory equipment , office equipment etc.
( iii ) Supplies and Services:-
Business products is supplies and services, supplies include operating supplies (lubricants, paper, pencil) and repair and maintenance items (paint, nails, brooms)
Repair and services (window cleaning or computer repair and business advisory service (legal, management consulting, advertising).