Question

In: Economics

describe the characteristics of services and how they differ from goods. After reviewing these differences, including...

describe the characteristics of services and how they differ from goods. After reviewing these differences, including the expanded service marketing mix, prepare a new discussion thread addressing the following:

a)   What do you see as the greatest challenge in providing quality service and why?

b)   What do you see as the easiest difference to address and why?

Solutions

Expert Solution

services are output of individuals or may be machines which are not tangible. the evaluation of services is difficult as its a qualitative term and not quantitive in nature. as services are qualitative in nature these will not be transfered to the customers even if they are being soled. and the service amount doesnot reduce when more and more people buy it so its non rivalary but excludable. goods on the other hand are tangible, they have a specific price or quantitive value attached to it, they will reduce if one buys it and is rivalary and excludable as well. as production and consumption of services happens at the same time there is no inventory in case of services but in case of goods inventorys are there.

1) the greatest challenge in providing services is to know the exact preference of the customer or we can say exactly what they want is really important to know before providing service, because the quality of the service will be great only if it delivers what the customer needs other wise it will not be a quality one. as preferences and choices vary a lot customers to customers its necessary to know each persons choice and how they wants there to be.

2) the easiest difference here between goods and services is tangibility becuse goods can be touched but services can be feelt, goods can be transfered but services cant because goods are quantifyable but services are qualitative terms.


Related Solutions

Services differ from products in several important ways. Describe the distinctive characteristics of services.
Services differ from products in several important ways. Describe the distinctive characteristics of services.
Explain how the prices of goods and services used in the CPI differ from the prices...
Explain how the prices of goods and services used in the CPI differ from the prices reflected by GDP deflator.
Describe how principles differ from characteristics/qualities of information, and how does this relate to sustainability?
Describe how principles differ from characteristics/qualities of information, and how does this relate to sustainability?
describe the primary characteristics for governmental and not-for-profit entities. How does this differ from the primary...
describe the primary characteristics for governmental and not-for-profit entities. How does this differ from the primary characteristics for business organizations? In your discussion, explain how budgetary accounting contributes to achieving budgetary control over revenues and expenditures for governmental entities and not-for-profit entities.
Describe four characteristics of a trait. How do traits differ from attitudes? Describe Allport’s concept of...
Describe four characteristics of a trait. How do traits differ from attitudes? Describe Allport’s concept of functional autonomy. What role does it play in the development of personality? What is the relationship between our motivation (work motivation, love motivation, exercise motivation, etc.) and our different levels of functional autonomy? Allport listed several components that must be present for a person to attain psychological maturity (his term for mental health) as follows: 1. Specific, enduring extensions of self 2. Dependable techniques...
Describe how activities of a service and a merchandising business differ Describe the differences between the...
Describe how activities of a service and a merchandising business differ Describe the differences between the income statements of a service and a merchandising business What is the meaning of (a) 1/15, n/60; (b) n/30; (c) n/eom?
Describe four characteristics each of controlled and automatic processing. Explain how the characteristics differ between the...
Describe four characteristics each of controlled and automatic processing. Explain how the characteristics differ between the two processes. In addition, provide two examples of a controlled skill and two examples of an automatic skill. Explain how the selected characteristics apply to your specific examples.
5. Critically assess the five (5) characteristics that distinguish services from tangible goods.
5. Critically assess the five (5) characteristics that distinguish services from tangible goods.
Write a 500-750-word paper that identifies the major characteristics of services compared with goods, and describe...
Write a 500-750-word paper that identifies the major characteristics of services compared with goods, and describe how technology is changing the customer service and service offerings. the two key components that we need to make sure we include are to fully discuss tangible and intangible and the 4 I’s of service. Each "I" needs to be discussed and not just mentioned as it is a critical component of the differences in goods vs. services.
Marketing i. Services differ from goods in terms of Intangibility, Inseparability, Inconsistency and Inventory. Explain and...
Marketing i. Services differ from goods in terms of Intangibility, Inseparability, Inconsistency and Inventory. Explain and provide an example of Intangibility Explain and provide an example of Inseparability Explain and provide an example of Inconsistency Explain and provide an example of Inventory
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT