Question

State the nature of business services.

Answer 1

Hlo frnd.

Nature of Services
There are normally five characteristics of a service . They also distinguish them from items and are called the five Is of services . They are:
i . Intangibility : Services are hard to understand . Can be understood only by expierence . We can never taste a doctor' s treatment , or touch and feel entertainment . But we can experience it . An important fact which this brings out is that quality of the offer often cannot be found out before consumption and , therefore , buy. It is , therefore , important for the service providers that they consciously work on doing a good service so that the purchaser has a favorable experience. For example , a doctor should give his patient a Good experience so that he comes back.
ii . Inconsistency : The second important thing of this topic is inconsistency . Since there is no standard tangible product , services should be done exclusively every time . Demands and expectations differ from customer to customer. So service providers need to have an opportunity to switch their offer to meet the needs of the customers . Its happening in the case of mobile services .
iii . Inseparability : Another important aspect of services is that production and consumption should have to be done simultaneously . It shows that production and consumption of services are inseparable . With services that have to be consumed as and when they are produced its not the case like manufacturing a car today and selling it later . The interaction with the customer remains a key feature of services and cannot be replaced with any technology . Today Automated Teller Machines (ATMs ) have replaced the banking clerk for the front office activities , but still the presence of the customer, is needed and his /her interaction with the process has to be managed .
iv . Inventory ( Less ): Services do not have tangible components and hence cannot be stored for a future use . I . e. , services are unpreserved and vendors can, at best , save some related goods but not the service itself . It means that the demand and supply are needed to be managed because the service has to be done as and when the customer asks for it . For example , a railway journey cannot be experienced until the preserved ticket is not provided .

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Answer 2

Nature of Business services:

 

 • Business services are a recognizable subset of economic services, and share their features. The vital difference is that businesses are apprehensive about the building of service systems in order to bring value to their customers and to act in the roles of provision and service consumer.

• Business service is “any extraneous product, which is basically a deal and is relocated from the buyer to the seller in trading for some deliberation

• One sole characteristic of services is that the provision and the service provider cannot be detached.

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