Following are the points of difference among products and services:
Interaction vs. Production:- For instance, a person went to a cafÃ© and ordered food. The food can be touched and available to eat. Therefore, a product can be judged through its tangibility. On the other end, the waiter who took the order provided services to the person by implying the order. In this case, the production is food, and the interaction with the waiter is services.
Imperishable vs. Perishable:- A service has a perishable nature, whereas a product may or may not has a perishable nature. In other words, products generally have an imperishable nature, but some products are perishable. A perishable service or product means it has a short life. So, it is consumed as and when produced.
No ownership:- Unlike the product, a service cannot be stored or owned by any person. A service has no ownership because it is intangible and inseparable. A person cannot own a service. It always comes and goes.
Perishability:- Perishability means a service has a perished nature. It cannot be held for long. It is offered when it is needed. It cannot be stored for future purposes.
Variability:- A service is highly variable. It can vary from person to person, provider to provider, or time to time. There is always a difference in the quality of services provided by different service providers.
Intangible:- A service cannot be seen or touched, unlike the products. It is highly intangible and can only be felt. Services can only be assumed by seeing them.
Product is a tangible item that can be seen and touched, whereas the service is an intangible item that cannot be seen or touched. However, both products and services are being exchanged in the market daily. Products are being sold in the market, and services are being offered. Both target the customer and grab their attention towards each other. Some people deal in products whereas some deals in services and others deal in both. Usually, the products and services are individually dealt with, but services are aligned to the product in some cases. There are inherent services attached to the product. For example, if Person A buys an air conditioner, there would be attached services for installing it at home. The shop owner provides the people who give services of installing an air conditioner at home. A product needs packaging and also needs close attention because it can be damaged. But in the case of services, it doesn’t need any packaging; it can be offered plainly. Product and service may differ, but they are part of the same market and describe the same association with an individual, i.e., give and take.
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