Write short note on nature of business services.
Answers
-lntangibility: A service is not a physical product that you can touch or see. A service can be experienced by the buyer or the receiver. Also, you can not judge the quality of the service before consumption.
-Inconsistency: There can be no perfect standardization of services. Even if the service provider remains the same, the quality of the service may differ from time to time.
-Inseparability: One unique characteristic of services is that the service and the service provider cannot be separated. Unlike with goods/products the manufacturing and the consumption of services cannot be separated by storage.
-Storage: The production and consumption of services are not inseparable because storage of services is not possible. Being an intangible transaction there can never be an inventory of services.
Answer:
Business services - These are the sector of the business which acts as the support system to the economy and the running business. These are services like banking, warehousing, transportation, and communication. Business services are the intangible benefits that are exchanged between the service providers and service seekers.
Nature of the Business Services are -
Intangible - Unlike commodities, service has no physical appearance but has a mental satisfaction to the consumer.
Inconsistency - Service know to be inconsistent due to the nature to be customized as per the demands of the service seeker.
Inseparable - As a commodity have its own identity but service lack in it. The Services are the experience gained by the customer/consumer as per their needs.
So, it's inseparable form the consumer.