1. what is the difference between services and goods.
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Answers
Goods:
Goods are the things that can be offered to a market place for attention, acquisition, use or consumption that can satisfy a consumer need or desire. The goods are tangible in nature that they can touch, smell grip, etc. before buying them.
Products are again classified into two categories based on their durability. They are durable goods, which last for many years, such as refrigerators, washing machines, etc., and non-durable goods that can only last a short time, such as consumer goods, soaps, powdered shampoo, etc.
The goods are the products that are marketed in the market. There is a time interval in the production, distribution, and consumption of goods. When the buyer buys goods and pays the price, the property is transferred from the seller to the buyer.
Services:
Philip Kotler defined “The service as an activity or benefit, which one party can offer to another party that is essentially intangible and does not result in the ownership of anything. The production of the service may or may not be linked to a physical product.”
The services are of an intangible nature and cannot be seen, touched, grabbed, smelled, tasted, etc. The services are perishable in nature and should be used in a very low period of time. Services cannot be stored or produced in advance as we do with products.
They can only be delivered at a particular time and, therefore, are perishable in nature. They lack a physical identity. The services cannot be distinguished from the service provider. The point of sale is the basis for the consumption of services. The services cannot be owned but can only be used
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