"Products are tangible and discernible items that the organization produces while a service is the production of an essentially intangible benefit, either in its own right or as a significant element of a tangible product, which through some form of exchange, satisfies an identified need. Sometimes services are difficult to identify because they are closely associated with a good". 

 

Word to the Wise:  Be certain that whether you provide a product or a service that your customers walk away feeling 100% satisfied and you will never have to vex yourself with customer loyalty or consumer retention-