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A good is a tangible object used either once or repeatedly. A service is intangible. The tangibility differentiator indicates the ability to touch, smell, taste and see which is absent in services. This can be a deterrent to the service receiver to gauge the quality and dependant on the service company reputation. In the case of goods the ownership of the product is transferable from sellers to buyers, whereas in services there is no ownership involved.
On the quality front, with goods it is homogeneous, once produced the quality is uniform across all line of products. They can be separated from the seller/ provider and not dependant on the source for its delivery to the purchaser. With regard to service it is inseparable from the service provider and heterogeneous, where each time the service is offered it may vary in quality, output, and delivery. It cannot be controlled and is dependant on the human effort in achieving that quality hence is variable from producer, customer and daily basis.
Another key distinction is perishability of services and the non perishability of goods. Goods will have a long storage life and are mostly non perishable. Whereas services are delivered at that moment and do not have a long life or cannot be stored for repeat use. They do not bear the advantage of shelf life as in the case of goods like empty seats in airlines. With the production and consumption taking place simultaneously in services, it differs from goods on simultaneity and the provisions for quality control in the process.
Summary:
1. Goods are tangible, and transferable while the services are intangible and non transferable.
2. Goods are separable, and non - perishable while services are inseparable.
3. Goods are homogeneous while services are heterogeneous
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Differences between labor market and goods market?
labour market- this deals with the labour resources such as hiring, firing or anything to do with labour of households.goods market- this deals with goods and services, consumption spending, imports and exports.
What is the difference and similarities between goods and services in marketing?
gooods are tangible while services are not
Is a supplier of goods and services a customer?
A supplier of goods and services is commonly referred to as a vendor. Unless they are buying your goods or services they are not a customer.
Who made the first advertisements?
The person who first exchanged goods or services for other goods or services
Which market or markets are consumer goods and services bought into?
Goods or services bought by a consumer are bought in the consumer market. The consumer market includes fast moving consumer goods, consumer durables, soft goods and services.
What is service product continuum?
•Service: intangible task that satisfies consumer or business user needs•Goods-services continuum: device that helps marketers to visualize the differences and similarities between goods and services
What are the differences between facility and utility?
Facility often refers to a location while Utility often refers to an object/goods/services
Similarities and differences between product and service supply chain?
services and products are similar in nature they contain each other. Every tangible goods contain an element of services.
Differences between GDP deflator and the CPI?
Two differences: 1) GDP Deflator reflects prices of all goods and services produced within the country, whereas CPI reflects the prices of a representative basket of goods and services purchased by the consumers. 2) CPI uses a fixed basketof goods and services whereas the GDP deflator compared the price of currently produced goods relative to price of goods in the base year. The two measures of inflation generally in tandem.
Explain different between goods and services?
goods are physical. services are something you do for someone.
What term indicated the exchange of goods and services between countries?
The exchange of goods and services between countries is called international trade.
What are the differences between inflation and deflation?
Inflation is when the value of money declines so it takes more dollars to purchase the same goods or services. Deflation is the opposite.
What is the difference between the revenue that a business gets for its goods and services and the cost of producing the goods and services?
Labor
Differences between labor market and goods market?
labour market- this deals with the labour resources such as hiring, firing or anything to do with labour of households.goods market- this deals with goods and services, consumption spending, imports and exports.
What are the differences between consumer goods and industrial goods?
Consumer goods are for sale as is to the public. Industrial goods require finishing.
Difference between tangible goods versus marketing services?
Marketing services are services that are offered to market products. Tangible goods are actual, physical goods that are sold by businesses.
What is the difference between manufacturing and services?
Manufacturing produces goods. Services provide services.
