Answered: Describe the difference between a…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Describe the difference between a product and a service. Provide at least

three examples of a product, and three for a service.

Expert Solution

Step 1

A tangible good or product that can be supplied to the consumer is implied by the term "products." It entails giving ownership and possession to the buyer from the seller. However, the term "services" refers to intangible activities that may be identified separately and satisfy needs. Typically, products are actual objects that your customers can handle in their hands. EXAMPLE: Your firm offers other companies branded giveaways and products for sale. Services are often immaterial; they are tasks you carry out or supply for someone else.

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