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Hybrid
Hybrid business is a mix of two or more different types of businesses. It can be in service or manufacturing or
merchandising or all of these. It does business in the form of goods and services. For example, a restaurant is
in manufacturing by preparing a ready to eat food in the form of fine dining. At the same time, it works as a
merchandiser by selling beverages with the fine meals. It also provides services by serving home deliveries through
online or offline orders.
Let us understand this with the help of a case study given below:
• Sarah's Boutique
Sarah started a small boutique selling handmade jewelry and
accessories. Initially, she operated from a physical storefront
in her local community. As her business grew, Sarah expanded
online, leveraging e-commerce platforms and social media
to reach a wider audience. She diversified her product range
based on customer feedback and market trends. By maintaining
quality craftsmanship and personalized customer service, Sarah's
Boutique established a loyal customer base both offline and
online.
Difference between Product Business and Service Business
Factors Product Business Service Business
Product can be seen and touched. Customer Service cannot be seen or touched.
Seen and Touched
pays for physical exchange of things. Customers here pay for an experience.
A service, for example, cutting hair,
A product can be stored in a shop or a
Stored cannot be stored. Service is provided
warehouse (usually).
when a customer asks for it.
A product can be made either at home or in A service cannot be made or
Made and a factory. After production, it is transported transported. It is provided to the
Transported
to different places where shopkeepers sell it. customer at the time of delivery.
Same quantity The quality and quantity of the product will The quality and quantity of a service can
and quality be the same every time. be different at different times.
Reboot
1. Explain any two types of business.
2. What is hybrid business?
3. What do you mean by "service" in business?
124 Touchpad Artificial Intelligence (Ver. 3.0)-IX

