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Give Three Points of Difference Between a Product and a Service. - Commerce

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Question

Answer the question.
Give three points of difference between a product and a service. 

Distinguish Between

Solution

 Difference between a product and a service :

Basis A Product A Service
(a) Storage A product is durable and can be stored. There are simultaneous production and consumption of services.
(b)Time Lag Products can be brought in advance of need. Services cannot be brought in advance of need.
(c) Tangibility It can be seen, touched and felt. Services cannot be seen and touched.
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2017-2018 (March) Set 1
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