Explain product, service, and the product and/or service mix.

Explanation should include definitions of the terms product, service, and product and/or service mix and an examination of illustrative examples of each.

Process/Skill Questions:

• What is difference between a product and a service?
• Why is the product and/or service mix an important part of the business’ image?
• What is the difference between a marketing mix and a product mix?
• When would management modify the product mix through expansion or contraction?
• How might a product create a service opportunity for a business?