Companies that sell both products and services must create separate marketing plans for each segment. Services are intangible. Marketing service is unique as it involves challenges like attaching tangible characteristic to something that is intangible. In a product marketing mix, only 4 P's are applicable which are product, price, place and promotion, but in the case of service marketing, 3 more P's are added to the conventional marketing mix, which are people, process and physical existence. Services Are Intangible – Services are intangible, products are tangible. This distinction is fading. A product can be bought and owned while a service can be paid for but not owned. Marketing for Goods by Emphasizing Service. Business commentators often say that we’re operating in a “service economy,” which means that today’s customers are looking for service value even in their physical products. The biggest difference between selling a product and selling a service is that prospective buyers can see, touch and feel products, while services are intangible. Products like luxury brands appeal to unique groups, posing challenges, although they’re physical. Within the discipline of marketing, various tactics and strategies come into play for prospecting, branding, content development, social marketing, video, events and other channels. For example a barber or a chartered accountant are giving individual services. It may be commonly perceived by many people that there is a world of difference between product and service marketing. You can experience a service or see the end results of a service, but the service itself cannot be touched. Marketing any type of product or service presents its own unique group of challenges.Both types of marketing can be very successful, but both require you to gain sufficient knowledge in your field before you can expect to find success. A product for an example can be purchasing a hair product while an example of a service is paying a hairdresser to do your hair. Whether there’s a difference between product or service marketing depends on the product or service itself. Unlike a product you cannot touch, feel, smell and taste a service hence service is an intangible. 6 Key Differences Between Marketing Services and Products. Products and services are fundamentally different things that require fundamentally different marketing strategies. Bringing product and service marketing together. It is common to wrap products in services to add more value. Characteristics of products and services are different. Product vs Service . Some features of services include In order for us to build up a successful marketing plan, we need first to understand the difference between a product and a service, not in definition but in implementation of the marketing … Often part of the challenge of marketing services is creating tangible elements that connect the consumer to the service brand. These fundamental differences require a different marketing approach and strategy in order to successfully market the products or services. Marketing any type of product or service presents its own unique group of challenges.Both types of marketing can be very successful, but both require you to gain sufficient knowledge in your field before you can expect to find success. But how do these strategies and tactics vary when marketing a product vs. marketing a service? A service has no physical size, shape or weight. Products and services are two closely aligned concepts, and, in fact, most products have an element of service in them. Knowing the difference between product marketing and service marketing will help you understand the scope of marketing. The key difference between product marketing and service marketing is that product marketing is concerned with tangible, storable, and measurable products whereas service marketing … The difference between marketing a product and a service. It is also a Search engine advertising. Product vs Service The line between products and services is extremely blurred. Products are essentially tangible and they can be touched, felt, smelled, tasted and heard. The basic difference between goods and services is that when the buyer purchases the goods by paying the consideration, the ownership of goods moves from the seller to the buyer. Products are tangible – they are physical, you can touch, see, feel and smell them. The difference between a product and service is firstly a product is a visible and tangible object, while a service is intangible. The difference between marketing a product and a service. Product marketing versus service marketing: what you need to know.