![]() ![]() They make services unique and different from goods.Ĭharacteristics of Services Intangibility These characteristics apply universally to any service. In the following, we will go into the most relevant qualities of services. Therefore, let’s now have a look at the unique qualities and characteristics of services. However, all services have certain characteristics in common. Also, you can imagine that not only companies offer services, but also governments and non-profit organizations. However, services can mean so many things, that the range of service industries is huge. In developed countries, the service sector contributes more to economic growth than any other sector. Today, they make up already more than 65% of the gross world product. As the share of services is growing rapidly in the world economy, one thing is clear: Services are becoming more and more important. Without doubt, services have grown dramatically in recent years. Importance of Services for the World Economy At the same time, a service is actually a special form of a product – while a good is another form. While a good is something that is tangible, a service is not. ![]() What we should actually compare a service to is labelled a good. ![]() However, this distinction is not fully correct. A service on the other side would be intangible. In the most common understanding, a product is tangible, meaning it can be touched or felt. Services are often contrasted to products. These are intangible and do not result in the ownership of anything. What is the definition of a service? Simply put, services are a special form of product which consists of activities, benefits or satisfactions offered for sale.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |