If the product owner owns a product and is responsible for maximising its value, then it is important to understand what a product is. I regard a (digital) product as an asset that creates value for a group of users and for the business. For example, I am writing this article using Microsoft Word. When I need to take a break from writing, I save the document. Word is the product. But the ability to save the document is a feature, a part of the overall product.