What is Product and Services?

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Product

Anything that can be offered to a market for attention, acquisition, sue, or consumption that might satisfy a want or need.

Service

Any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything

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The Boston Consulting group (BCG) Approach

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The Boston Consulting Group Approach "A portfolio-planning method that evaluates a company's strategic business units in terms of their market growth rate and relative market share. SBUs are classified as stars, cash cows, question marks, or dogs". Using the Boston Consulting Group (BCG) approach, a company classifies all its SBUs according to the growth-share matrix.
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