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Question
Mention five points of distinction between a Product and a Service.
Solution
| Products | Services | |
| 1. Tangibility | Fully tangible - (a) Calil be felt and touched (b) Can be fully standardised |
Intangible may have physical evidence. (a) Cannot be touched (b) Cannot be standardised |
| 2. Perishability | Usually durable | Usually perishable |
| 3. Ownership | Transferable | Not transferable |
| 4. Inseparability of buyer and seller | Fully separable, remote transactions are possible | Not separable, remote transactions not possible |
| 5. Risk | Product can be replaced. | Service delivered cannot be replaced. |
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