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In everyday usage, people tend to divide the output of companies into “products and services”. However, from a business perspective its often more useful to view all outputs of business as products and divide these into goods and services. Most goods are tangible, meaning they have a physical presence. Other goods, such as software and downloadible music files, are intangible.

Some companies offer only goods, and others offer only services. many firms, offer a combination of the two.

Company’s also vary widely in the number and range of products they offer. From those with a single product to those with thousands of products in dozens of product lines, sometimes in completely unrelated industries.