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    srikar
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    Goods are tangible, physical items that can be seen, touched, and owned, while services are intangible activities or benefits provided by others. Goods can be stored, returned, and resold, while services cannot be separated from the service provider, stored, or returned once performed. The key differences between goods and services are the tangibility, ownership, variability, and ability to be stored or returned.

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    Goods are tangible, physical items that can be seen, touched, and owned, while services are intangible activities or benefits provided by others. Goods can be stored, returned, and resold, while services cannot be separated from the service provider, stored, or returned once performed. The key differences between goods and services are the tangibility, ownership, variability, and ability to be stored or returned.

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    17 views1 page

    Assign 1

    Uploaded by

    srikar
    Goods are tangible, physical items that can be seen, touched, and owned, while services are intangible activities or benefits provided by others. Goods can be stored, returned, and resold, while services cannot be separated from the service provider, stored, or returned once performed. The key differences between goods and services are the tangibility, ownership, variability, and ability to be stored or returned.

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    of 1

    1.

    GOODS SERVICES

    Meaning Goods are the material items that can be Services are amenities, facilities,
    seen, touched or felt and are ready for benefits or help provided by other
    sale to the customers. people.

    Nature Tangible Intangible

    Transfer of Yes No
    ownership

    Evaluation Very simple and easy Complicated

    Return Goods can be returned. Services cannot be returned back


    once they are provided.

    Separable Yes, goods can be separated from the No, services cannot be separated
    seller. from the service provider.

    Variability Identical Diversified

    Storage Goods can be stored for use in future or Services cannot be stored.
    multiple use.

    Production and There is a time lag between production Production and Consumption of
    Consumption and consumption of goods. services occurs simultaneously.

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