What's the difference between IOS editions LAN Lite, LAN Base, IP Base, and IP Services?

Every Cisco Catalyst switch supports an IOS image.

For example, the WS-C2960X-48TS-L is a LAN Base switch because of the last “L” in the SKU.

The WS-C2960X-48TS-LL is a LAN Lite switch because of the last “LL” in the SKU.

Cisco's switching hardware ships with one of four basic editions of IOS LAN Lite, LAN Base, IP Base, and IP Services.

What is their difference?