Your product and service is what you are trading with. You may be generating the product or service yourself, making to order or making to stock. You may be merely distributing someone else's product. A kitchen installer will be doing all these things. Remember most manufacturing operations have an element of service.
Most services offer products.
Communicating the Business Concept Your business plan must do this. People will not invest in your business if you cannot excite them about your product or service. This must link to your market research findings. These things will point to the type of operation that delivers the product or service and the costs. This can be expensive especially for overseas markets and re-newing patents.