Significance of Services

The significance of services can be understood with the help of the following points: 1) Upward Trend in the Disposable Income: Since the last ten years, the Indian customers are exhibiting an upward trend in disposable income. The transformation of …

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Goods-Service Continuum

In general, organizational products are a composition of goods and services. According to the goods-services continuum in the figure given below, some products may have either tangible (e.g., salt) or intangible (e.g., teaching) characteristics. However, some products provide both goods …

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Classification of Services

Services can be classified on the basis of the following factors: 1) By Market Segment: As the needs and requirements of different markets are not homogenous, the services are different for different market segments. The following types of services are …

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Characteristics of Services

Different types of economic activities that are not directly involved in agriculture, mining, or manufacturing/production of goods, are called ‘services.’ With the help of using managerial skills, labor, entertainment, advice, training, intermediation, etc., services deliver human value. They are different …

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