Products and services are the offerings provided by businesses to meet the needs of consumers. Products are tangible items, such as electronics, clothing, or food, that customers can purchase and own. Services, on the other hand, are intangible activities or benefits, like haircuts, cleaning, or consulting, that are performed for customers. Both products and services can vary widely in quality, price, and availability. Companies often focus on innovation and customer satisfaction to differentiate their offerings. Understanding the differences between products and services helps consumers make informed choices based on their preferences and requirements.