A Product represents a coherent collection of services and/or passive structure elements, accompanied by a contract/set of agreements, which is offered as a whole to (internal or external) customers.
A Product consists of a collection of Services, and a Contract that specifies the characteristics, rights, and requirements associated with the Product.
A Product may aggregate Business Services or Application Services, as well as a Contract.
Generally, the Product element is used to specify a product type. A Product may be offered both internally to the organisation and externally to customers.
A Value may be associated with a Product.
The name of a Product is usually the name which is used in the communication with customers, or possibly a more generic noun (e.g., "travel insurance").
A Travel Insurance Product consisting of Insurance Services and a Contract.