Business English: Products and Services
Businesses often offer many products and services to meet their customers’ needs and preferences. Products are tangible items like smartphones, clothes, and groceries, which can be purchased by consumers. These items can be touched, seen, and used in everyday life.
Services, on the other hand, are intangible offerings such as haircuts, education, and banking. They provide value through actions or experiences. Companies usually focus on either products or services, but some can provide both.
For example, a hotel offers rooms to stay in, which is a service. It may also sell merchandise like t-shirts and souvenirs, which are products. Understanding the difference between products and services is important for businesses. This helps in marketing and delivering their offerings effectively.
Businesses need to research their target market to know what customers want. They must also consider factors like price, quality, and convenience. Companies aim to provide the best value to attract and retain customers. Adapting to changes in customer preferences and market trends is crucial for success.
Continuous improvement and innovation can help businesses stay competitive. Effective customer service is also key in building a loyal customer base. Customers are likely to return if they are satisfied with the service and products they receive.
Text Analysis
General Level: B1.2
Vocabulary: B1.0
Verb Form: B1.1
Clause: B1.1
Wordlist
banking NOUN B1 1
Definition (En):
- engaging in the business of keeping money for savings and checking accounts or for exchange or for issuing loans and credit etc.
n. transacting business with a bank; depositing or withdrawing funds or requesting a loan etc.
competitive ADJ B1 1
Definition (En):
- involving competition or competitiveness
s. subscribing to capitalistic competition
s. showing a fighting disposition
consumer NOUN B1 1
Definition (En):
- a person who uses goods or services
merchandise NOUN C1 1
Definition (En):
- commodities offered for sale
trend NOUN B1 1
Definition (En):
n a general direction in which something tends to move
n general line of orientation
n a general tendency to change (as of opinion)
n the popular taste at a given time
v turn sharply; change direction abruptly
value NOUN B1 2
Definition (En):
- a numerical quantity measured or assigned or computed
n. the quality (positive or negative) that renders something desirable or valuable
n. the amount (of money or goods or services) that is considered to be a fair equivalent for something else
n. relative darkness or lightness of a color
Phrases and Idioms
Lemma | Sentences |
adapt to something | · Adapting to changes in customer preferences and market trends is crucial for success. |
aim to | · Companies aim to provide the best value to attract and retain customers. |
focus on (someone or something) | · Companies usually focus on either products or services, but some can provide both. |
help in | · This helps in marketing and delivering their offerings effectively. |
on the other hand | · Services, on the other hand, are intangible offerings such as haircuts, education, and banking. |
stay in | · For example, a hotel offers rooms to stay in, which is a service. |
such as | · Services, on the other hand, are intangible offerings such as haircuts, education, and banking. |
Reading Comprehension Exercises
True / False / Not Given
- Businesses exclusively offer products to meet customer demands.
- Services are intangible offerings that provide value through actions or experiences.
- Some companies only focus on providing services.
- A hotel’s main offering, such as rooms to stay in, is considered a service.
- Marketing strategies are unnecessary for companies that offer both products and services.
- Knowledge of the target market is essential for businesses to meet customer preferences.
- Companies prioritize convenience over quality in their offerings.
- Adapting to technological advancements is the primary way for businesses to stay competitive.
- Satisfied customers are more likely to return to a business.
- Effective customer service can help build a loyal customer base.
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Short Answer Questions
- What is the main difference between products and services?
- Why is understanding the difference between products and services important for businesses?
- How do businesses understand what customers want?
- What factors must businesses consider to provide best value?
- What can help businesses stay competitive?
- What is key in building a loyal customer base?
- What happens if customers are satisfied with the service and products they receive?
Writing Exercise
Writing Exercise
Q. Write a paragraph where you provide one example of a product and one example of a service. Explain how each one meets customer needs differently and discuss the unique characteristics of each.
Answer Key
True / False / Not Given Answers
1.
Answer: False
Explanation: Businesses offer both products and services, not just products, to meet customer demands.
Answer location: “Businesses often offer many products and services to meet their customers’ needs and preferences.”
2.
Answer: True
Explanation: Services are described as intangible and valuable through actions or experiences.
Answer location: “Services, on the other hand, are intangible offerings such as haircuts, education, and banking. They provide value through actions or experiences.”
3.
Answer: Not Given
Explanation: The text says companies usually focus on either products or services but does not specify if some only focus on one.
Answer location: “N/A”
4.
Answer: True
Explanation: The text explicitly states that a hotel’s main offering of rooms is a service.
Answer location: “For example, a hotel offers rooms to stay in, which is a service.”
5.
Answer: Not Given
Explanation: The text does not mention marketing strategies being necessary or unnecessary for companies offering both products and services.
Answer location: “N/A”
6.
Answer: True
Explanation: The text states that researching the target market helps businesses meet customer preferences.
Answer location: “Businesses need to research their target market to know what customers want.”
7.
Answer: False
Explanation: The text mentions that companies consider price, quality, and convenience but does not state a priority order.
Answer location: “They must also consider factors like price, quality, and convenience.”
8.
Answer: Not Given
Explanation: The text mentions continuous improvement and innovation but does not specify technological advancements as the primary way to stay competitive.
Answer location: “N/A”
9.
Answer: True
Explanation: The text states that satisfied customers are likely to return.
Answer location: “Customers are likely to return if they are satisfied with the service and products they receive.”
10.
Answer: True
Explanation: The text explicitly states that effective customer service is key to building a loyal customer base.
Answer location: “Effective customer service is also key in building a loyal customer base.”
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Short Answer Answers
1.
Answer: Products are tangible items, while services are intangible offerings.
Explanation: The text clearly differentiates products as tangible items and services as intangible offerings.
Answer location: “Products are tangible items like smartphones, clothes, and groceries…Services, on the other hand, are intangible offerings such as haircuts, education, and banking.”
2.
Answer: It helps in marketing and delivering their offerings effectively.
Explanation: The text indicates that knowing the distinction aids in marketing and delivery strategies.
Answer location: “Understanding the difference between products and services is important for businesses. This helps in marketing and delivering their offerings effectively.”
3.
Answer: By researching their target market.
Explanation: The text mentions that market research helps businesses understand customer needs.
Answer location: “Businesses need to research their target market to know what customers want.”
4.
Answer: Price, quality, and convenience.
Explanation: The text lists these factors as crucial for providing best value.
Answer location: “They must also consider factors like price, quality, and convenience.”
5.
Answer: Continuous improvement and innovation.
Explanation: The text suggests that ongoing improvement and innovation are vital for competitiveness.
Answer location: “Continuous improvement and innovation can help businesses stay competitive.”
6.
Answer: Effective customer service.
Explanation: The text highlights effective customer service as essential for loyalty.
Answer location: “Effective customer service is also key in building a loyal customer base.”
7.
Answer: They are likely to return.
Explanation: The text states that satisfied customers are likely to become repeat customers.
Answer location: “Customers are likely to return if they are satisfied with the service and products they receive.”
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