BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Basic differences between goods (products) and services are easy to see: Goods (products) are tangible and can be consumed now or later, while services are intangible and cannot be produced in advance. Of course, many purchases consist of a mix of goods (products) and services.

Detailed explanation-2: -Products are generally tangible items-something that your customers can physically hold in their hands. EXAMPLE: Your company sells branded swag and merchandise to other businesses. Services are typically intangible-something that you provide or perform for another person.

Detailed explanation-3: -Differences between goods and products: Purpose: Goods are produced to meet consumer needs, while products are created to meet consumer demands and make a profit. Sales: Goods are sold in bulk, while products can be sold individually or as a package deal.

Detailed explanation-4: -These products can be either in the form of goods or services. Goods are tangible, as in these have a physical presence and they can be touched, while services are intangible in nature. The purpose of both goods and services is to provide utility and satisfaction to the consumer.