Entrep

Trivia
The Possible Product/s or
Service/s that will Meet
the Need
 Specific Learning Objectives
1.Gain insights about the concept of
products/services; and
2.Identify the products that are related to
services
Activity 1. Pre-Test

DIRECTIONS: To check your

prior knowledge about the
topic, please analyze the
statements below.
Activity 1. Pre-Test

1. Which is referred to as a
marketing offering?
A. Product/Service
B. Sales
C. Company
D. Goals
Activity 1. Pre-Test

2. Which of the following is not a

tangible product?
A. Car
B. Alcohol
C. event organizer
D. Face mask
Activity 1. Pre-Test

3. Which is referred to as the

production of an essentially
intangible benefit?
A. Items
B. Company
C. Service
D. Market
Activity 1. Pre-Test

4. Which of the following is a

customer need that an
Entrepreneur should consider?
A. Usability
B. Income
C. occupation
D. savings
Activity 1. Pre-Test

5. Which is not an after sales

service?
A. Online support
B. warranty & Guarantee
C. Returns & Replacement
D. Employee training
Concepts about
Product and
Service
 PRODUCT

 can be defined as anything that we can offer to a

market for attention, acquisition, use or consumption
that could satisfy a need or want. However, the
definition of product does not only involve tangible
goods such as a car, a fridge or a phone
 PRODUCT

 include intangible objects as well, because

they can be offered to a market.
 includes services, events, persons, places,
organizations or even ideas (Claessens, M.,
2015).
 PRODUCT

 tangible item that is put on the market for acquisition,

attention, or consumption, while a service is an
intangible item, which arises from the output of one
or more individuals (https://corporatefinanceinstitute.com).
 SERVICE

are special form of product which

consists of activities, benefits or
satisfactions offered for sale that are
intangible and do not result in the
ownership of anything.
 SERVICE

can include banking, airline travel,

communication services, hotel
services and so on (Claessens, M.,
2015).
 EXAMPLES:

 When a consumer buys a car, the product comes

with a lot of other service responsibilities, such as
tune-up and maintenance (https://corporatefinanceinstitute.com).

 A laptop buyer now buys a bundle of service

benefits in addition to the tangible components of
the laptop.
 Specific Examples of
products and services
(https://www.archives.gov):

Products
● new prints of motion picture film elements
● prints for exhibit purposes
● reference copies on DVD/CDs, books, magazines for the
reading rooms or other Clients
● Cars, tables and chairs, etc.
 Specific Examples of
products and services
(https://www.archives.gov):

Services
● consulting with clients on appropriate products for specific
purposes
● providing advice on risk assessment and priority setting
● working on standards committees
● conducting training and other educational outreach
 The Difference
• Infographic Style of Product and Service
(https://accountlearning.com)

Product Service
1. It is tangible. It is intangible.

It is very difficult
2. Quality to attain quality
standards can be standards.
attained.
 The Difference
• Infographic Style of Product and Service
(https://accountlearning.com)
Product Service
3. It may be an asset It involves
sometimes,. e.g., expenditure without
fridge, television set, any
etc. tangible return
benefit.
4. Physical
possession is Physical possession
possible. is not possible.
 The Difference
• Infographic Style of Product and Service
(https://accountlearning.com)

Product Service

5. It can be It cannot be
stored. stored.

6. It can be It cannot be
transported. transported.
 The Difference
• Infographic Style of Product and Service
(https://accountlearning.com)

Product Service
7. The producer and The producer of
service is the seller
the seller may be
too, e.g., medical and
different persons.
legal services.

8. Assembling is Assembling has no

very important. relevance at all.
 The Difference
• Infographic Style of Product and Service
(https://accountlearning.com)
Service
Product Skill of the service
9. Skill of the provider is the
seller alone deciding factor in
cannot most cases, e.g.,
legal, catering and
determine sale.
medical services.
 The Difference
• Infographic Style of Product and Service
(https://accountlearning.com)

Product Service
Production and
10. Production
distribution of service
and distribution will have to be done
need not take simultaneously, e.g.,
place provision of
simultaneously. electricity.
 The Difference
• Infographic Style of Product and Service
(https://accountlearning.com)

Product Service
11. Packing It has no
plays a crucial relevance in
role in the
the marketing
marketing of
any product. of service.
 The Difference
• Infographic Style of Product and Service
(https://accountlearning.com)

Product Service
12. Both Brand Brand mark and
name and Trade Trade name are
name are important in the
important in the marketing of
marketing of any services.
product.
 The Difference
• Infographic Style of Product and Service
(https://accountlearning.com)

Product Service
13. Labelling is
an integral part
It has no
of marketing. It
is required as relevance
per law.
 Activity 2. Check Your Understanding
DIRECTIONS: Read and analyze the statements below about “Product or
Service”. Determine whether the statement is TRUE OR FALSE. Write TRUE
if the statement is correct and write FALSE if otherwise.
1. Products do not carry an element of service.
2. A service is the result of the application of skills and expertise towards an
identified need.
3. A service isn't something you can try out before you pay for it.
4. All products are countable, touchable, and visible, a consumer can assess its
durability by examining it.
5. Products are tangible and discernible items that the organization produces.
 Activity 3. Reflective Learning

● What kinds of products do you like, enjoy, consume and benefit

from?
● Do you like the product or service you're planning to sell?
● Can you see yourself getting excited about this product or service?
● Would you buy it and use it yourself?
● Would you sell it to your mother, your best friend, your next-door
neighbor?
 Abstraction

1. What is a product?
2. What is services?
3. Give products that are related to
services.
 Short Quiz

Directions: Column A contains list of products

and Column B contains list of services. Match
as to which service in Column B is related to
the product in Column A.
Answer Column A: Products Column B: Services
1. Car A. Usability and durability
2. Xerox machine B. Repairs and maintenance
3. Smart phone C. Leasing or pay per copy
4. Credit card D. Entertainment
5. Organic products E. Consistent quality
6. Television F. Bills payment
7. Accessories G. Healthy lifestyle
8. Books H. Boost immune system
9. Vitamins I. Accuracy of information
10.Basic goods J. Fashionable design