Welcome to this course! Before we dive into the concept of service productization, it’s essential to understand the key differences between a product and a service.
A physical product is a tangible item that you can touch, see, and sometimes even consume. It has physical characteristics like shape, size, and color, and often follows a standardization process. Even digital products, such as mobile apps, are consistent across users, despite offering some level of customization.
On the other hand, services are intangible. You can’t touch or measure a service physically, and once it’s delivered, it no longer exists in a tangible form. Consider a haircut: the service is provided in real-time, and once it’s done, it’s over.
Additionally, services are generally less scalable than products. Products can be mass-produced and distributed to many, whereas services often require individual delivery.
With these differences in mind, let’s begin our exploration of service productization!
Productization of services, brilliant way of increasing revenues to service based businesses
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