ICSE Class 9 Answered

Product

Service

Product is tangible.

For example, if one wants to buy a book he/she can see it, feel it and then purchase it.

Service is intangible.

 For example, if one wants a spa treatment which is a service, he/she cannot feel the result until it is done.

Products are homogenous. There can be products which are exactly identical to each other.

For example if a person wants to purchase a pen he/she choose anyone lying at the store.

Services are not homogenous they are heterogeneous.

  For example a person cannot choose medicines he/she likes from the doctor for his/her sickness

Products are separable. The pass through different stages before they reach the consumer for consumption.

Services are inseparable. They are produced and consumed at the same time.