Question

Discussion post of Principle of Marketing 270

1. In purchasing an item, there are two conceptual dimensions, generally speaking, either product or service.  

Compare and contrast the two concepts in terms of similarity and difference.  

What kind of item can be an example, which includes both dimensions of product and service?

2. In many cases, consumers tend to determine a purchase decision, based on "quality" (e.g., simply say, good or bad quality).

To you, what is the meaning of quality? Can we use the same definition of quality across all categories of products and services? How do you think? What is your opinion?

Answer 1

As per policy, only one question is allowed to answer at a time, so answering Q1 here :

1)

Similarities among Product and Service:
1) Both meets the consumers needs
2) Both are sellable in markets
3) Both are required simultaneously as product requires services to run.
4) Both bring value towards satisfying some need.
5) Both are created at the workshop.
Differences between Product and Service:
Point	Product	Service
tangibility	Tangible	Intangible
touchable	Can be touched	Can only be feel
Costing	Cost can be accessed	Cost is to be assumed.
Purpose	Need satisfaction	Motivating customer
Examples	Automobilies, paper, computer, etc.	Tax services, car wash, guide, etc.

The fooding and food services at Restaurants is a good example of blend of both dimensions of Product and Service.