The four types of product services—core, actual, augmented, and potential—represent different layers of value that businesses offer to customers. This framework helps companies develop and market products that meet needs, create differentiation, and drive innovation.
Business products and services are the goods and intangible offerings that companies provide to meet customer or client needs. These include tangible items like equipment and raw materials, as well as services such as consulting, IT support, and financial planning. Understanding the distinction helps businesses develop better strategies and value for their target markets.
