Difference Between Product And Service

Basis	Product	Service
Tangibility	Physical, tangible items.	Intangible, non-physical activities.
Nature	Can be seen, touched, and possessed.	Experienced, consumed, or utilized.
Production	Manufactured or produced.	Generated or delivered through actions.
Ownership	Can be owned, purchased, and possessed.	Cannot be owned but can be availed.
Evaluation	Quality assessed based on attributes.	Quality assessed based on experience.
Customization	Can be customized to some extent.	Can be highly personalized or tailored.
Perishability	Can be stored without deterioration.	Generally perishable, consumed promptly.
Return	Can be returned or exchanged.	Generally no return, service completion.
Inventory	Can be stocked and managed.	Not stocked, produced on demand.
Transferability	Transferable ownership through sale.	Non-transferable, consumed by recipient.