What name is given to the arrangement of resources which are devoted to the production and delivery of products and service?…
Service offerings are intangible products offered for sale to customers. These can be services sold to business customers (e.g., consulting services, shipping services) or to end consumers (e.g., restaurant services, transportation, health care). Service offerings can be sold by traditional service companies (e.g., Bank of America) as well as manufactures (e.g., IBM). A company does not need to be a “service company” in the traditional sense to sell services.…
Identify and outline the distinguishing characteristics of services compared to physical goods by comparing and contrasting the service offerings of your selected company with those of a number of physical goods companies…
Goods vs. Services: Manufacturers produce tangible product, services often intangible, Operations activities often very similar, Distinction not always clear, few pure services.…
Explain the difference between a good and a service. List two examples of a job that would provide a good and list two examples of a job that would provide a service.…
2. The four key characteristics of services are intangibility, inseparability, variability, and perishability. Service Intangibility lacks tangible assets which can be seen, touched, smelt, heard, or tasted prior to purchase. Examples of such would be education or a sporting event. Service Inseparability involves the simultaneous production and consumption which characterizes most services. Inseparable services are produced, sold, and then consumed simultaneously, therefore making them inseparable. The provider and the buyer are linked, both having to be present in order for the service to be rendered. Service Variability is determined by the circumstances surrounding the service. The value of the service comes from the quality of the experience, who provided it, when they provided it, where they provided it, and how they provided it. Service Perishability is also one of the four key characteristics of services. Perishable services must be rendered on the spot and cannot be stored for later sale or use.…
SERVICES • Goods -- Tangible products such as computers, food, clothing, cars and appliances. • Services -- Intangible products (that can’t be held in your hand) like education, healthcare, insurance, recreation and travel. • Successfully filling a market need means you could make money for yourself and provide jobs for others. BUSINESS VS. ENTREPRENEUR…
* A Service is a form of product that consist of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything.…
Physical goods are easier to evaluate, because either they perform the job for which they were intended or they do not. Service is more difficult to evaluate, because everyone has a different service level expectiation. For example, if a company provides straight-forward all-business service, it may attract people who do not have a lot of time and just want to get in and get with as little hastle as possible. However, the same company may drive other people away, because the company may appear to be unfriendly.…
-Contact Personnel: employees other than the primary service provider who briefly interact with the customer…
✓ Parasuraman, A., Zeithaml, V. A. & Berry, L. L. (1985). A conceptual model of service quality and its implica- tions for future research. Journal of Marketing, 49, 41-50.…
The same holds true for individuals or companies producing goods and servicesA good is a tangible item that someone has made, mined, or grown. A service is a form of work, assistance, or advice that provides something of value to someone else but does not produce a tangible item.. In economic terms, the amount of the good or service that is sacrificed in order to produce another good or service is known as opportunity costIn economic terms, opportunity cost is the amount of good or service that is sacrificed or given up in order to produce another good or service.. A country is said to have a comparative advantage in whichever good has the lowest opportunity costIn economic terms, opportunity cost is the amount of good or service that is sacrificed or given up in order to produce another good or service.. That is, it has a comparative advantage in whichever good it sacrifices the least to produce.…
So the service cannot be touched, tasted or smelt. It can only be identified by feel of customer through the benefits and satisfaction.…
2. Simultaneity (services that they are produced and consumed at the same time at the point of sale. And an opportunities for personal selling)…
To maintain the interest of buyers, the physical products are most often provided with benefits like: Quality, Reputation of the Manufacturer, Packaging, Credit, Information about the Product, Warranty, After Sales service and Delivery.…