Differences between Goods & Services

Services involve a form of rental, offering benefits without transfer of ownership while goods offer benefits transferring ownership.

Goods are tangible.
Services have either tangible or intangible actions.

All the goods can be inventoried while most service products cannot be.

Goods are easy to visualize and understand while services are difficult to do.

Goods are distributed by physical channels, while services may take place through non-physical channels.