An information product – means an intangible thing. Information (rarely knowledge).
The infamous – ‘how to…” something. An it is conveyed on an ebook ( not a tangible book, its a file you can read and download onto your hard drive, so its ‘yours’ – usually a pdf file.
Or on a DVD, which has to be shipped to the customer. That means, if your a customer – extra charges, called shipping and handling. If youre the seller, extra headaches, either you physically have to ship the stuff, and get it made. Or you hire a company to do so (less profit for you). And dont forget to handle the returns.
Or most likely, most profitable, its information on video or audio (mp3 usually) or a pdf file so it can be read. Usually these days its all three for the same product.