In defining a product, which characteristic is typically excluded?

In defining a product, production costs are typically excluded because they relate to the internal aspects of a business rather than to the product itself from a consumer's perspective. When consumers consider a product, they are more focused on the quality, brand name, and the features and benefits that the product offers. These aspects are crucial in shaping consumer perceptions, influencing their buying decisions, and determining the product’s market position.

Quality reflects how well a product meets customer expectations and standards, while the brand name plays a significant role in fostering trust and recognition among consumers. Features and benefits highlight the unique aspects of the product that solve consumer problems or enhance their experience. In contrast, production costs pertain to the expenses involved in creating or delivering the product and are more relevant to the company's internal accounting and pricing strategy rather than the characteristics of the product itself as viewed by the customer.