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Based on what you've read in the textbook, online course materials and other outside resources, explain the difference between a product and a service, as well as differences or similarities in how they are marketed/positioned in the marketplace, with examples from personal experience, course materials and other research to illustrate your points.
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One of the differences lies in tangibility. Products are tangible. They can be seen, touched and sold by price. They are commodities. Examples of products include bananas and other fruits, milk, butter, car, and other items. Services are not physical and can't be seen, felt, or touched by the human senses. They are actions rendered to fulfill a customer's/client's need. In marketing a service, it is important that the service marketers knows how to communicate effectively the process and the final outcome that the consumer will receive and how to serve the best quality which is determined only by the consumer.
Services entail that the consumer expects the service to be provided in a specific method or by a specific individual. This means that there is a need for the individual delivering the service to do his/her best as his image, knowledge, attitude, appearance, etc. are at stake. In the case of products, the production of the item is separate from its consumption.
Products can be stored for future use until they perish while with services, there is a need to do the service at the time that it is required. Time can never be recaptured when one misses to produce a good service. An example is when a ...
Explanation of the differences between a product and a services and how they are marketed. References are included.