Commercial Applications
On the basis of ownership, distinguish between a product and a service.
Markets & Marketing
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Answer
| S.No. | Basis | Product | Service |
|---|---|---|---|
| 1. | Ownership | Ownership is transferable. When a product is bought, ownership transfers from seller to buyer (e.g., buying a car). | Ownership is not transferable. The buyer only gets the benefit of the service (e.g., hiring a taxi does not transfer ownership of the taxi). |
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