About Lesson
Services are intangible offerings that cannot be physically possessed. They are actions, processes, or performances offered by one party to another. Examples include banking, healthcare, consulting, hospitality, and more. The Key Characteristics of Services are:
- Intangibility: Unlike products, services cannot be touched or seen before they are bought.
- Inseparability: Services are typically produced and consumed simultaneously.
- Variability: Service delivery can vary depending on who provides it, when, and where.
- Perishability: Services cannot be stored for future use.