Slide©2004 by Christopher Lovelock and Jochen Wirtz
Services Marketing 5/E
How Important is the Service Sector inOur Economy?
In most countries, services add more economic value thanagriculture, raw materials and manufacturing combined
In developed economies, employment is dominated byservice jobs and most new job growth comes fromservices
Jobs range from high-paid professionals and techniciansto minimum-wage positions
Service organizations can be any size²from huge globalcorporations to local small businesses
Most activities by government agencies and nonprofitorganizations involve services