What is an example of an intangible product?

Intangible products include all goods sold to customers that can't actually be seen, touched, sniffed or otherwise handled by the consumer. Examples of intangible products include insurance, tax services, cell phone service, some computer software and transportation services.

Businesses use the words intangible and tangible to describe their products because the terms of services and goods do not apply to all types of products sold. For example, insurance is considered a good, whereas the act of recommending and selling insurance is considered a service. By using different terminology, businesses are better able to identify what types of products they sell.