Product can be physical product (tangible) or it can be services that are offered to customers. The main decision of the product that should be considered by marketing manager is appearance of the product to customers. If the appearance of the product is good than there is a chance that customer will like it and will buy it. Other decisions are packaging of the product, warranty of the product.
Another important element of the marketing mix is placement, because if you (as a marketing manager) want your product to be famous among the competitors’ product it is important to place (distribute) your product well. Try to opt for such place where you think that the competitors’ product is not doing well. If your product has got all the good features but it is not placed well or it is not in the access of those people who wants it than you can’t get success.