How big is the product? Generally a paper roll and two lights is plenty for small/medium subjects. Especially if they are to be deep etched anyway. For really small subjects natural light and a couple of white cards can do the trick. Other clients are going to want environmental shots or exact colour matching, which will require more stuff.
My portable product kit consists of a self supporting light tent, several paper rolls and three speedlights with stands and small softboxes, controlled wirelessly. Plus an assortment of white and black card, tape, fishing line, blu-tac, Velcro, tape.
I've used a folding light cube with color matched CFLs mounted in cheap worklamps to good effect. The light cube helps diffuse the light and control reflections. Three lights and a tripod for the camera is all you need.
eBay Photo Studio Kit Free Delivery : Camera Accessories : Maplin
I bought one of these for a friend. The lights are hot, but the entire thing's really effective, and folds down into a square with a carry handle, lights and stand included. I managed to get it when it was on a half price offer, but I'd still consider it at full price. It's sturdy and well-built, and the lights feel heavy and expensive. The blue backdrop is reversable; on the other side is a light, neutral grey surface.
It was on the shelf in Maplin, next to the one I suggested. It folds completely flat, without having pockets for the lamps, and needless to say is much lighter. If you do have the lights already, I'd go with greyelm's recommendation.