What is a characteristic of an intangible product?

An intangible product is characterized by the absence of physical form, meaning it cannot be touched or held, which leads to the notion of having no inventories. This embodies services like education, consulting, or software, which cannot be stored in a traditional sense like tangible goods. Since intangibles are often consumed at the time of production, they do not have physical inventory like items in a warehouse.

In the context of the other answer choices, physical goods clearly denote tangible products, which stand in stark contrast to the concept of intangibility. Easy measurement of quality can be more challenging for intangible products due to their subjective nature rather than being quantifiable like the performance metrics for physical goods. Lastly, low consumer contact does not align well with intangible products, as many services (which are often considered intangible) typically require significant interaction with consumers to deliver a value proposition effectively. Therefore, the characteristic that truly highlights the essence of intangible products is indeed their lack of inventories.