Broadly speaking, product refers to a collection of tangible and intangible features that are integrated and packaged into software releases that offer value to a customer or to a market. The term “product” is often used in Agile software development to denote the software that is the subject of the iteration or release. As such, “product” is generally used interchangeably with other names for software release including “software release”, “system”, or “business application.”

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