A service is an intangible activity or benefit offered by a business or individual to fulfill a customer's needs or desires. It is characterized by its simultaneous production and consumption, variability in delivery, and the absence of ownership transfer. A service differs from a product in that it is an intangible activity or benefit consumed at the point of delivery without resulting in ownership, whereas a [[product]] is a tangible or intangible item that can be owned and stored, fulfilling needs or wants through its physical or digital presence.