In this Slideshare i had define about product and services. difference between product and services. types of product and services. if you like my presentation do like and follow. Thank you

1. PRODUCT/SERVICE

2. Difference between Product and services
What is a product?
An article or substance that is manufactured or refined for sale. Ex :
iPods', furniture, etc.. Every product or service has a purpose.
Products are tangible, they can be seen and touched, felt or
experienced. There will be time gap between production and
consumption of goods.
Types of products
 Consumer products
 Shopping products
 Specialty products
 Unsought products
 Business products

4. What is a Service?
A service is something someone can do for money. Ex : workers
They are not tangible. A major part of service marketing
depends on the relationship the marketer/ seller is able to
establish with the customer.
Types of services
o The nature of the service providing process
o The subject of the service
o The nature and function of the service
o The company class

5. Difference between products and services Products Services Concrete Activity or process
Tangible Intangible Homogeneous Heterogeneous Product and distribution of goods is
separated from consumption. In services, production, distribution and consumption is
simultaneous. The core value of products is produced in the factory Services is produced in the
buyer-seller interaction Can be stored Impossible to store Transfer of ownership of goods from
the manufacturer to the dealer to customer. Can have access to the service but cannot own it.

7. Phases of Product Development
Every product on the market has a backstory. A team of masterminds invest weeks, months and
sometimes even years, into designing new and more innovative products that will hopefully
answer customer questions, solve customer problems and make lives better.
 Phase 1. Discovery
Objective: Find a problem to solve
This is the initiation phase, where the Product Manager talks
to customers, listens to their feedback, what they are asking
for and pays attention to customers using competing products.
Once you know what features are most valued to customers,
the main goal is to obtain, validate and implement customer
feedback.
 Phase 2. Define
Objective: Determine the MVP – (Minimum Viable Product)
The goal is to have a product that has the minimum set of features to test key
assumptions. In this phase, it’s important to not waste valuable resources where they are
not necessary. Work until you get a solid understanding of the problem to solve and the
features needed.

8.  Phase 3. Design
Objective: Defining and designing
So we have the solution to a problem and we need to design it.
This is the phase where designers come in strong. The PM works
with them to create mockups. They meet with customers and get their feedback on what
works and what doesn’t, and the mockups are tested with customers. This process is
repeated until there is a well-defined product that solves key problems for customers.
 Phase 4. Implementation
Objective: Construct results
The implementation phase is where developers, engineers and the product manager
shine. The product is designed by developers, understood by engineers, and kept on
track by the project manager. The engineers test the look and functionality against the
product the developers have created to make sure they match.
The Product Manager is involved to prioritize features, create product specs and to see
and use the product to make sure it passes requirements. From there it’s passed to the
project manager to make sure development runs on schedule.

9.  Phase 5. Marketing
Objective: Define marketing goals
The PM meets with the Product Marketing team to go
over features and differentiators and review massaging,
and refine to make sure all claims about the product features
are accurate.
 Phase 6. Training
Objective: Inform
Once we have the final product, we need to tell people how
to use it, internally and externally – to customers. Training
material is created for internal and users. The PM would
also write documentation on how to use the product
features.

10.  Phase 7. Launch (Party)
Objective: Send product to market
Once the product hits the market, development does not stop.
After the launch party comes reviews, customer feedback on
ways to improve the product and cycle of development starts
over to solve any new problems or update features.
Customer feedback is one of the most important parts of
product development; a Product Manager has to always be
listening and working for the customers to advance and
innovate.

11. Phases of Services
o The process by which we’ll learn precisely what it is we’re trying to build - and
that’s often quite different to our initial view.
o The vision of the product will change through conversations, interviews,
workshops and research as we build a picture of what we actually want.
o It’s at this point that we use a volunteer group, inside ICANN or in the ICANN
community to work closely with to define those needs and to help us build a
prototype.
o We’ll use different groups for different projects and try and use very different
groups for different projects.
o This wont be a case of usual suspects, we will, over time, engage with a wide
number of groups on this.

12. The Alpha phase
The Alpha phase is the MVP - the minimum viable product. Its an, occasionally,
primitive version of what we want to build, stripped down to its basic functionality
so that we can test it in a live environment, with actual users and see if they use
it, and it works, in the ways we assumed. This will be shared with everyone, not
just our partner community. We want feedback on this stage from far and wide,
it’s essential - it’s the phase where we learn the most.
Launch
Once the beta phase ceases to raise obstacles, we can go live - final changes to
design and the implementation within the ICANN environment follow. Once it’s
live and everyone is using it ‘for real’, that doesn’t mean the changes stop - in
some ways, we’re in permanent beta, but that’s when we also start looking to the
next project.

13. The Beta version
As with all digital project, this is the pre-live version. Again, shared publically, this is a
fully-functioning prototype where we get as many users as possible to test it. In doing so,
we hope that both the core users and the ‘extreme’ use cases will exposes weaknesses
now (as opposed to in the next stage) where we have the ability to change things on the
hoof. It’s when we thoroughly kick the tires on process and technical issues. All of us.
Including you.

14. Life cycle of product and services
 Just as businesses go through stages, so do products and services.
The product or service life cycle is determined by how long it is
marketable. The life cycle of the TV cathode ray tube (CRT) is
coming to an end as more and more flat screens are being
purchased. The life cycle of voice-over IP telephone service is
entering its growth phase as more and more people try it out.
 The common stages a product or service may go through during
its life are introduction, growth, maturity, and decline or
innovation.

16. Decline or innovation stage
 Sales drop rapidly even though prices continue to fall.
Profits are extremely low at this stage, but the product or
service has generated sufficient.

17. Introduction stage
 Profits are low in this stage because research and
development, production, and marketing costs are high.
 Prices are set high on the product or service to recoup
some of the development and introduction costs.
 For example microwave ovens that can now be purchased
for $50 were priced between $2,000 and $3,000 when
they
were first introduced.
 In this stage, you’ll want to keep a close watch on the
market’s reaction to your products and services and be
ready to make changes.
 It sometimes helps to experiment with several different

19. Growth stage
 Sales generally increase with the demand for the product.
Cash flow improves and profits are at their peak.
 When real estate is being developed, there is an increased
demand for construction and the products and services
that support the development. Continue to make
refinements to stay ahead of the competition.
 Build product and service development capabilities with the
cash you get from increasing sales.

20. Maturity stage
 Sales may continue to increase or level off. Profits
decrease since prices are continually lowered to compete.
 Still, a great amount of cash flow is generated through
sales. Conduct market research to determine trends.
 Invest in research and development. Adapt your product or
service to meet the coming trends.
 If you don’t look for new opportunities in new markets and
new products, the coming decline stage will leave you with
products and services that no longer sell.

21.  Cash flow during its life.
 When a product or service hits this stage many
entrepreneurs reintroduce it with a new feature or create a
new benefit.
 Simply increasing the size of a candy bar by 33 percent
can start its life cycle over again.
 Consider making changes to your product or service or the
way you market it.
 You may decide to discontinue your product or service
before losses eat into the cash flow generated by sales.
 Knowing where your products or services are in their life
cycle will help you determine refinements or adjustments
you may need to make to align them with the vision and
strategy you have already developed.