Service is provided by the seller to the buyer in exchange for money (economic activity), but it does not provide the ownership of the services provided to the buyer, only values are exchanged.
This is the feature that distinguishes services from physical goods. Generally, it is regarded as a process responsible for bringing change in the intangible and physical belongings of the customers to benefit them.
As per the marketing experts, the term ‘service’ is not limited to personal services like dentists’ services, hair-cut, legal consult, auto repairing, etc. The scope of the service is much more than that. A variety of definition of service is given by different experts, but no single universal definition is available.
According to Philip Kotler, “A service is an act or performance that one party can offer to another that is essentially intangible and does not result in the ownership of anything. Its production may or may not be tied to a physical product”.
According to Zeithaml and Bitner, “Services are deeds, processes, and performances.”
According to Christopher Lovelock, “Services are economic activities offered by one party to another, most commonly employing time-based performances to bring about desired results in recipients themselves or in objects or other assets for which purchasers have responsibility.”