Providing goods and services

Good

A tangible object which can be purchased

Tangible

Can be seen or touched

Consumer goods

Directly used by customers to satisfy their needs and wants. Normally bought in shops, online etc.

B2C

Business to consumer

B2B

Business to business

Producer good

Goods used by businesses to make consumer goods or help them run their business.

Tend to be bought from a specialist supplier.

Durable goods

Tend to have a long life - used until they break or are replaced. No fixed time but expected to last a minimum of three years.

Non - durable goods

Consumed for a shorter single time period or only once - often used immediately. Expected lifespan below three years

Service

A non - tangible item that can be purchased, i.e. activities that a business does for customers

Personal/direct services

Aimed at consumers. Used by consumers on a regular basis

Commercial services

Aimed at businesses. Used by businesses that do not have the workers or expertise within the business to perform the activity e.g. accountancy, marketing, market research