28/02/2022
What is Product? What is Service? A product is something to do with the tangible object that is placed on the market for the purpose of acquisition, attention, or consumption. While on the other hand, service refers to the intangible item that results from the work of one or more people. Although it may appear that the main difference between the two notions is their tangibility, this is not necessarily the case. Services are in most cases intangible, whereas products are not necessarily. It's important to remember that products and services are tightly related. When a consumer buys a car, for example, the product comes with a slew of additional service obligations, such as tune-up and maintenance. Products are essentially manufactured, stored, transported, advertised, and ultimately sold objects. Services are intangible, unlike products, which can be either tangible or intangible. Different characteristics, such as tangibility, perishability, variability, and heterogeneity, influence the disparities between products and services.
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