ENTREPRENEURSHIP

Detailed explanation-1: -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-2: -Product-as-a-Service Examples One of the most common examples of a Product-as-a-Service is vehicle leasing. This is an option offered by many car manufacturers wherein someone purchases the use of the vehicle, and maintenance work is included during the course of the lease.

Detailed explanation-3: -Product-as-a-Service (PaaS) also referred as Product-Service Systems, is a combination of products that are accompanied by services. The product is joined by more features or service contracts to repair or replace. With PaaS, products are offered in subscription models that are offered with services attached.

Detailed explanation-4: -The production process is defined as the process in which the factors of production, i.e. inputs of resources, are turned into products or services. Factors of production means capital, labour, technology, land, and other resources that are used to create output, or goods and services.