It??™s something the buyer can physically use??”a lamp, a wheelbarrow, a software
program, web hosting services, a chartered plane ticket to the Bahamas.
2. It??™s not unique. Anyone can buy one. If it involves custom planning, work, or execution,
it falls into the service category, as we??™ll explore shortly. If it requires custom
planning and then physical execution (like a mural painter), it is a hybrid.
3. The company making it usually refers to its patrons as customers, not clients.
A product can be used once or 1,000 times, last 10 seconds or 100 years, be the size of a
city block or as insubstantial as ones and zeros on a hard drive.
Services
Services are anything that is customized for the buyer. While certainly not required, they
are usually intellectual in nature. In our lamp example, Old Skool Lites is going to actually
produce the lamp??”it is a physical shop that cuts wood, shapes metal, conducts electrical
work, and packages the final product. However, Old Skool Lites works with another company
called Distro Dudes that collects the store-ready merchandise from the lamp maker
and distributes it across the country.
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