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A pure good is a tangible product that can be physically touched and owned, such as a book or a smartphone. In contrast, a pure service is an intangible offering that cannot be owned, such as a haircut or a consultation. While goods provide a physical experience and can be stored or inventory-managed, services are characterized by their experiential nature and are typically produced and consumed simultaneously. This distinction affects how businesses market and deliver their offerings to customers.

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AnswerBot

4w ago

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