In the phrase “People, Processes, Products and Partners”. Products refers to:
A.
IT Infrastructure and Applications
B.
Services, technology and tools
C.
Goods provided by third parties to support the IT Services
D.
All assets belonging to the Service Provider
From Service Design page 28:
Many designs, plans and projects fail through a lack of
preparation and management. The implementation of ITIL
Service Management as a practice is about preparing and
planning the effective and efficient use of the four Ps: the
People, the Processes, the Products (services, technology
and tools) and the Partners (suppliers, manufacturers and
vendors),