DIFFERENCES BETWEEN GOODS AND SERVICES

S BASIS FOR GOODS SERVICES

No COMPARISION
1 MEANING Material objects that could Service is a type of activity
be touched, seen, or felt and that one party may provide
are available for sale to to another without
consumers are referred to as transferring ownership.
goods. Depending on their Service does not have a
durability, goods may be tangible identity and
classified as durable or non- therefore could not be
durable. Durable goods last owned; it could only be
a long time, whereas non- used. For instance, if you go
durable goods deteriorate to a restaurant for dinner,
more quickly. you could use the services,
but you do not own the
restaurant.
2 NATURE Homogeneous and tangible. Heterogeneous and
intangible.
3 SEPERABLE It is possible to separate the Services may not be
goods from the seller. separated from the service
provider
4 RETURN If the goods are defective, Since the manufacture and
they may be returned for a usage of service happen
refund or credit. simultaneously, services
could not be returned after
they have been provided.
5 TRANSFER OF When the buyer pays the The ownership of services
OWNERSHIP consideration for the goods, cannot be transferred.
ownership transfers from the
seller to the buyer.
6 PERISHABILITY They are non-perishable. Services are highly
perishable.
7 STORAGE Goods may be stored for It is impossible to store
future use or used several service.
times.
8 QUANTITY Goods come in a variety of Services are impossible to
shapes, forms, and sizes and quantify numerically.
could be numerically
quantified.
9 QUALITY The quality of goods could Quality could not be
be measured and compared measured in the case of
to that of other goods. services.
10 CORE VALUE The core value of goods is The core value for service is
their production in a produced when the buyer
company or factory. and the service provider
interact.
11 PARTICIPATION The customer is not Customer participates in the
participated in production in production process of
the case of goods. services
12 EVALUATION The process of evaluating Since different service
goods is easy and simple. providers provide similar
services but charge different
amounts, evaluating
services is a difficult task.
13 SHELFLINE If a good may not sell In comparison to a good, a
within a specified time, it service has a shorter shelf
may be sold at a later date. line.
14 RETURN BACK If a customer is unhappy Services can’t be returned
with their purchase, they or substituted after they’ve
could return it and receive a been purchased, but they
refund. can often be refunded.
15 PATENT The majority of Since most services are not
manufactured goods are patentable, they are easily
patentable. copied.
16 SIMULTANEOUS The goods are manufactured Services are created and
PRODUCTION first, then exchanged, and consumed simultaneously.
AND eventually consumed.
CONSUMPTION