Products and Services:
Product: Anything that can be offered to market for attention, acquisition, use or consumption that might satisfy a want or need. It includes physical objects, services, persons, places, organisations, and ideas.
The concept of product is not limited to physical objects-
anything capable of satisfying a need can be called a product. In addition
to tangible goods,
e.g. Mobile
phone, Laptop, banking, airline, home repair services, etc.
Service: Any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership or anything.
e.g. Banking, airline, home repair services, etc.
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