IT PRODUCT

The internal hardware parts of a computer are often referred to as components, while external hardware devices are usually called peripherals. Together, they all fall under the category of computer hardware. Software, on the other hand, consists of the programs and applications that run on computers. Because software runs on computer hardware, software programs often have system requirements that list the minimum hardware required for the software to run.

• Software, in its most general sense, is a set of instructions or programs instructing a computer to do specific tasks.
• Software is a generic term used to describe computer programs that run on PCs, mobile phones, tablets, or other smart devices.
• Software is often used to describe all the functional aspects of a computer that do not refer to its physical components (hardware). Scripts, applications, programs and a set of instructions are all terms often used to describe software.

Nature of Services

• All services are essentially intangibles. The sale of a service does not give you an ownership of physical product. As we now know the definition of a service, lets move on and understand the nature of services
• Intangibility is the basic nature of services.
• Services need to be made or provided again and again. They are generally inconsistent because different customers have different expectation.
• The production and consumption of services is inseparable. For example, ATMs may replace the banking manager for the front office activities like cash withdrawal and cheque deposit. But, at the same time, the presence of the customer, is required and his/her interaction with the process has to be managed.