Key Takeaways

  • A clear description of products and services is essential for business plans, investor relations, partnerships, and customer engagement.
  • Product descriptions should highlight benefits, not just features, and avoid unnecessary jargon.
  • Tailoring descriptions to different audiences—customers, investors, and collaborators—improves impact.
  • Including real-life examples (physical goods, digital services, consulting, subscriptions) helps clarify offerings.
  • Products and services examples should show how offerings solve problems, deliver value, and differentiate from competitors.
  • Compelling presentation of offerings can aid in raising capital, securing partnerships, and building credibility.

Product and services examples are descriptions of your company's offerings, and can be adapted to accommodate the audience you're trying to attract and to help you reach goals you're pursuing. When described using your own terminology, your descriptions show how you view your company's customers and stakeholders. Focus on what you want your target audience to get from your product descriptions in order to get started on the creation phase.

Starting With the Business Plan

A description of your company's products and services goes in your business plan. This section of the plan shares information that includes a brief summary of each offering, facts about the cost of each unit, and data about any patents or copyrights you possess related to your product offerings. It's important to be able to clearly tell people about the products and services your business offers.

Types of Products and Services Examples

Products and services can be grouped into categories that illustrate the diversity of business offerings:

  • Physical Products: Tangible goods such as clothing, electronics, or packaged foods. Example: A shoe company may emphasize durability, comfort, and style.
  • Digital Products: Non-physical offerings like software, apps, eBooks, or online courses. Example: A subscription-based learning app focusing on professional certifications.
  • Services: Intangible support like consulting, cleaning, design, or legal advice. Example: A law firm offering intellectual property protection services.
  • Subscription Models: Recurring products or services, such as monthly meal kits or streaming platforms.
  • Hybrid Models: A mix of products and services, such as a fitness studio that sells both gym memberships and branded supplements.

When describing your products and services, emphasize not only what they are but also how they solve customer problems and meet market needs.

Keep Your Language Positive

You shouldn't assume people know a lot about your industry, even if you're in a popular field, and it's especially important to remember this when preparing product descriptions. Each industry includes many products and services that are uncommon. Avoid talking down to people, but keep industry terminology to a minimum to avoid sounding condescending when communicating with industry outsiders. Ask yourself or a peer if your product descriptions:

  • Seem too technical
  • Assume readers have an advanced knowledge about your industry
  • Use too much industry terminology
  • Describe the main purpose and benefit of the service or product

Also consider whether you are providing a point of reference people can use for comparison if it is new in the marketplace.

Storytelling in Product and Service Descriptions

A powerful way to connect with potential customers is by using storytelling. Instead of just listing features, frame your products and services in the context of the customer’s life:

  • Explain how the product or service fits into their daily routine.
  • Share customer success stories or testimonials.
  • Show the transformation—before and after using your offering.

For instance, instead of saying “We offer digital marketing services,” you might frame it as “We help small businesses grow their online presence and double their lead generation in under six months.” This makes the description more relatable and benefit-driven.

Clear and Concise

Consider asking other people to read and share their opinions on your product descriptions. This is one of the best ways to get feedback on your written descriptions, and it lets you see if people understand what you're saying well enough to repeat it back in their own words. Using layman's terms in your descriptions helps potential investors get a feel for your industry and where your company fits in it, even if they are otherwise unfamiliar with it.

Visual Presentation of Products and Services

Clarity is not only about words—visuals play a major role in how products and services are understood. Consider:

  • Product Images or Videos: High-quality visuals demonstrate value and build trust.
  • Comparison Charts: Tables comparing service packages (basic vs. premium) help customers choose.
  • Infographics: Simplify complex service processes into easy-to-digest visuals.

Strong visuals paired with concise language make it easier for stakeholders and customers to quickly grasp your offerings.

Stakeholder Involvement

A clearly written business plan should be shared with key stakeholders. When you share this key planning document with employees, a well-written product and service description section helps everyone understand the purpose of your company.

While you wouldn't share your business plan with customers, they should see your product and service descriptions. When writing descriptions for customers to read, go beyond listing the features of your products and show them what benefits those features deliver to encourage them to buy from you.

Differentiating from Competitors

Your description of products and services should highlight how your business stands out in the marketplace. Consider including:

  • Unique features or intellectual property (e.g., patented technology).
  • Competitive advantages (e.g., faster delivery, sustainable sourcing, or lower costs).
  • Value-added services (e.g., free installation, extended warranty, or customer support).

This differentiation not only clarifies value for stakeholders but also reinforces your competitive position in the industry.

Targeting Specific Market Segments

Segmenting your audience into smaller groups can help you improve product descriptions even more by focusing on specific needs of the segment. This approach does generate extra work for you, but it also makes your descriptions more effective by addressing the interests of the group. For things like clothing, you may want to focus on style, durability, or comfort depending on the needs and interests of the target market you're trying to reach.

Real-Life Examples for Different Markets

Examples can be powerful when tailored to specific markets:

  • Healthcare: A clinic may describe services like preventive check-ups, telehealth consultations, or wellness programs.
  • Technology: A SaaS company might highlight cloud storage tools, mobile integrations, or cybersecurity features.
  • Retail: A fashion retailer could showcase seasonal collections, size inclusivity, or eco-friendly materials.
  • Hospitality: A hotel might emphasize all-inclusive packages, conference facilities, or luxury spa services.

Concrete examples make your products and services relatable and easier for target segments to evaluate.

Descriptions for Raising Capital

Bankers and investors want to know how much earning capability your products and services deliver when they review your business plan. The description of your products and service offering helps them determine if you'll be likely to earn a profit and repay your loans. Discuss your business model and the effect of each product or service on your net income. Include labor costs, material costs and how much you'll charge for each product or service. Also share information on your intended market, go in-depth on your earning potential, and cover specifications regarding proprietary processes you own.

Products and Services in Marketing Strategy

Beyond financial details, investors want to see how your products and services fit into your overall marketing and growth strategy. This section should show:

  • How offerings meet customer demand.
  • Plans for distribution (e.g., retail partnerships, e-commerce, or direct sales).
  • Long-term scalability of the product or service.
  • Opportunities for upselling, cross-selling, or launching new products.

By aligning your product and service descriptions with your marketing strategy, you give investors confidence in your ability to grow sustainably.

Descriptions When Collaborating With Other Businesses

If you want to partner with another business, good descriptions of your offerings can help encourage them to join forces with you. You may also need accurate descriptions to entice retailers to purchase your wholesale offerings. Be sure to include the most useful features of your product or service, and add information about your return policy or how long someone can expect your offerings to last, especially if you're producing something perishable.

Products and Services as Revenue Streams

When discussing collaborations, it is helpful to also break down how products and services generate revenue. Revenue streams may include:

  • Direct Sales: One-time transactions for goods or services.
  • Subscriptions: Ongoing monthly or yearly payments.
  • Freemium Models: Offering a free version with optional paid upgrades.
  • Licensing and Royalties: Allowing others to use your intellectual property for a fee.
  • Partnership Models: Shared revenue from bundled services or co-branded products.

Highlighting these models not only makes partnerships attractive but also demonstrates the business’s adaptability in monetizing its offerings.

Frequently Asked Questions

  1. What is the difference between a product and a service?
    A product is a tangible item like clothing or electronics, while a service is an intangible offering such as consulting, legal advice, or marketing support.
  2. Why are product and service descriptions important?
    They clarify what a business offers, help customers make purchasing decisions, attract investors, and support strategic partnerships.
  3. How can I make my product descriptions more effective?
    Focus on benefits, not just features. Use simple language, visuals, and examples tailored to your target audience.
  4. What are some examples of services businesses can offer?
    Services include legal representation, cleaning, IT consulting, financial advising, healthcare, and design.
  5. Should I include prices in my product and service descriptions?
    Yes, when possible. Pricing transparency builds trust and helps customers quickly decide if your offering is within their budget.

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